If you think private fund managers (as in people running PMS services for private clients, not employed in Financial services companies, but stand on their own feet) are all greedy, you may be wrong.
Here are 2 fund managers with a fantastic reputation. One was in a top job before he started his PMS services and the other guy was a Senior level executive (his designation was so unique it would be a give away!) in a big brand.
Both of them raised money in 2003-4 and managed it well till 2007 (not sure about the dates). Suddenly in 2007 they felt they did not like the market – so one of them sold off. The other guy called up all the clients and returned their money – in the form of shares / cash. In fact he said since I did not meet your requirements (of growing the money over the next 10 years) I will return your money AND NOT CHARGE you a fee. He bore the cost of the operation from his own capital.
Well both are now happy and doing well for themselves. Even such a story without names is likely to reach them. Well sorry guys. One of them I have met personally – and have some fantastic quotes from him. The other guy’s uncle is a person with whom I have dealt quite a few number of times and that too was long ago.
Any further on this article will be detrimental to my relationship with them, so I have to stop. This is just a story to say that there are good guys around too…not all of them are as stupid and greedy …..as we think!
Post Footer automatically generated by Add Post Footer Plugin for wordpress.