Some people aren't suited for investing in active managers.
I am guilty. I find it very hard, considering the fees, to stick with a manager if they are falling behind the benchmark.
I remember how bitter I was when LSF went belly up after the float. Now it's one of the best performing funds in the country.
Personally, I have moved a lot of money (not that there is much) into passive products - where there is no one to blame - just the market.
However, there are a select few managers I am happy to ride out the bumpy waves - being L1, Regal, Greencape and Ophir (noting I was p... off with Ophir how the last DRP was handled).
At the end of the day, Ophir has grown and so have the personnel. I think every investor would prefer their undivided attention - but it's not practical.
Ann: Investment Update and NAV Report April 2024, page-17
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