But whatever fund classification the industry develops will not be a short cut to understanding what is under the bonnet. A client will (and should) expect that the fund they invest in has been properly researched. It will never be good enough to say it was fifth in its peer group, or that it has won awards for the research house. A more fundamental assessment needs to be carried out on each fund selected to ensure it meets the client’s risk requirements. There have been enough examples in previous years for us to have learned this lesson well enough.
Lawrence Cook, director of business development and marketing, Thesis
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