Speculation is different from investing. The first is an outright gamble by a punter with nothing but a tip from a stockbroker or newspaper pundit by way of intellectual underpin. The second is not without risk but it is underpinned by sound research carried out by experienced people with a proven record of success, elements that increase significantly the chance of success.

On behalf of our clients, we seek out opportunities for investing. We do not speculate.

Expert fund management is the engine of capital growth. If the managers of the fund you are invested in pick the right companies, you make good progress. Fund managers are not all equally expert. Some are very good, some very bad. The most important decision made by an investor is his choice of fund manager.

Keeping abreast of the fund management world is not easy. Many of the good managers are not household names. An added difficulty is the volatility of the fund management employment market. In 2000, there were 190 major fund manager changes. Fund management companies themselves changed hands. Length of experience varies wildly. Fewer than 8% of fund managers have a 10 year track record running their fund. Fewer than half even have a 3 year track record.

We prefer managers with stable, experienced, well-qualified teams. We prefer investment methods that are thorough, skillful and consistently applied through time. We prefer fund managers regularly present in the top quarter of their particular fund performance league tables.

Not all investors have the time, the resources, the inclination or the expertise to go researching fund managers in this way.

Our clients leave this to us. It is how we make our living.

Contact us for further information.