UK - Fund managers are backing Hewitt Bacon & Woodrow's claims that "blindfolded monkeys" would give schemes a better measure of return than peer group benchmarks and indices. Baring Asset Management's head of UK institutional business Jenny Segal said Hewitt had "hit the nail on the head".
She explained: “Market cap-weighted strategies often mean you’re investing in yesterday’s story. “A benchmark approach may have produced good returns during the bull market but over the past three...
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