(19 January 2017, AFR, p16, by Jonathan Shapiro)
‘Any good fund manager knows from experience that stock picking is a humbling pursuit. The winners one year tend to find themselves among the losers the following year – as the market rewards, and then punishes, them for the stocks they own and the strategies they deploy. It is this longer-term perspective in which Mercer’s annual fund manager league tables should be assessed.’
Also see the Top fund managers league table in the printed edition of the AFR.