Many fund managers dismissed the historical German election results as “insignificant for markets”. But they fail to take into account the fact that these elections have upended the status quo, possibly triggering a reversal of recent political trends.
Benchmarks are a vital part of the asset management sector. Funds are measured against them, bonuses worked out in relation to them and entire sectors of the industry predicated upon them. But, if recent trends are extrapolated outwards, the days of the benchmark in its current form should be numbered.
Omar Gadsby takes a less-is-more approach in his role as head of fixed income fund selection at Credit Suisse. By Will Jackson
Continental European asset managers risk losing market share to US and UK rivals, according to a report from The Boston Consulting Group