Beyond the Collateral Archives: January 2008
January 23, 2008
When it comes to mutual funds, you certainly wouldn’t think so. That’s especially true given the dearth of support and ‘case-building’ coming from asset managers in recent years.
Maybe the end of Bill Miller’s stupendous 10+ year market beating run signals that even those of us in the know don’t believe that PMs can legitimately add value. Maybe we believe that the great money managers have left mutual funds behind in favor of hedge funds and managed money. Or maybe professional management seems like an old story—one more comfortable in the late 80s and early 90s when the mutual fund business was a growth story rather than a mature one.
That said, it seems to me that the risk and volatility in the markets today represents a perfect opportunity for active managers to demonstrate their ability to add alpha. And for marketers to once again remind investors of the benefits of professional management
Who’s with me? Let’s dust off the active management sales support…otherwise much of what we sell and the rich margins that come with it will go POOF!
