Less yield and profit than its big brother CDM, despite the...

Less yield and profit than its big brother CDM, despite the promise of more active management and gains thru the more active shorting ! Well that didn’t work !

Karl Siegling added, “With inflation remaining elevated and interest rates substantially higher than they were a year ago, the investment environment continues to look significantly different to that of recent years. This tougher economic outlook we believe will lead to a greater dispersion of returns across stocks and sectors and will favour an active stock-picking approach that combines both fundamental and technical research such as the Cadence process.”

”The “Active Stock Picking Approach” strategy would seem to have been poor ! I have to ask where the gain is to be made over and above the investment in CDM ?