Discretionary Fund Manager (DFM) performance – the emperor or the elephant?
We monitor financial markets on an ongoing basis, and one of the tasks we undertake regularly is to compare the performance of our client's portfolios against a variety of benchmarks. We have been doing this for more than eight years, and over that time, one theme has emerged with surprising consistency - the woeful performance of discretionary fund managers (DFMs). DFMs are companies that manage client portfolios...
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