By Gail Moss2021-05-24T15:01:00+01:00
UK fiduciary managers with more than average equity exposure or risk performed the best over calendar 2020, but with greater volatility, according to research from XPS Pensions Group.
Furthermore, those managers who enjoyed the strongest performance in 2019 – when the best performer returned 20% – were often the hardest hit in Q1 2020, the study found.
The Fiduciary Manager Review 2021 – the consultancy’s third such review – covered 22 “best ideas” growth portfolios from 18 fiduciary managers, capturing 99% of UK fiduciary clients.
It found that while portfolios had suffered from huge market falls in the first quarter of the year, the subsequent rapid recovery and positive returns for the rest of 2020 resulted in returns ranging from 2% to 16.8%, net of fees.