ASX-listed fund manager Pendal Group’s shares lost 16 per cent in Friday’s trading, as mandate redemptions from its British institutional clients dragged down its funds under management.
VGI faces into the fund managerâs dilemma
Managing director Rob Luciano needs to better balance stock picking with investor relations, as he battles an activist campaign. He believes a new CEO can help.
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Rob Luciano is trying to solve the conundrum he says plagues all modern fund managers.
On one hand, the executive chairman of ASX-listed hedge fund VGI Partners says thereâs never been a more important time for a fundie to be actively managing their portfolio.
âItâs a treacherous environment,â Luciano says. âI think youâve got to be highly selective and youâve got to have more factors in play than you did even 12 months ago.â