RFP: Diary of an institutional salesman, part 32

I’ve never quite understood the ‘star manager’ approach. It seems so dangerous for a fund company to put all its eggs in one basket. Or in one basket-case, as often seems to happen. No, it’s far easier to tick the boxes of repeatable process, a team-based approach and a stable staff list. The worst-case scenario unfolded for Swiss Heritage a few years ago. They spent years pumping up their global-equities manager into a real superstar, selling his image around the world and even o…