Why so many funds?

purch

darkpool wrote: »

Remind me, why do you post so much on a website meant for consumers?

I always thought it was to help people (consumers) and offer assistance.

Of course, I could be wrong but I very much doubt it.

dunstonh

Here we go again. Darkpool taking another thread off topic by turning it anti-IFA.

purch

bigfreddiel wrote: »

my question is why don't fund managers just close the really bad funds that consistently fail to perform, whats in it for them to keep on failing year upon year?

Because if they did, they would be unemployed.

How many people do you know who would voluntarily resign due to their own poor performance at their job ?

darkpool

purch wrote: »

I always thought it was to help people (consumers) and offer assistance.

Of course, I could be wrong but I very much doubt it.

ohh sorry, i thought it was a sort of advertising for his profession.

rpc

darkpool wrote: »

ohh sorry, i thought it was a sort of advertising for his profession.

I don't see anything advertising - the sigs of IFAs are only really there to keep to site rules about regulated advice. Although I have never used one, I for one enjoy reading the posts from IFAs. Aside from anything else, they often have specialist knowledge consumers like me lack. There is more to financial planning than your choice of OEIC/IT/ETF/etc.

And to answer the OP (and aside from the points about sector/styles/objectives), you can buy terrible cars, terrible computers, terrible anything. If there is money to be made for the person that sells the product (be it a car or an OEIC) then why shouldn't they sell it? Caveat emptor - it is for the purchaser to make sure that what they are buying suits their needs. If people did not buy these bad funds then they would die off. You either do the necessary research for yourself or pay someone to do it for you.

darkpool

rpc wrote: »

I don't see anything advertising - the sigs of IFAs are only really there to keep to site rules about regulated advice. Although I have never used one, I for one enjoy reading the posts from IFAs. Aside from anything else, they often have specialist knowledge consumers like me lack. There is more to financial planning than your choice of OEIC/IT/ETF/etc.

but these days advertising is quite subtle. you rarely get adverts saying "buy me now".

though surely this is advertising?

I am an Independent Financial Adviser.

Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.

dunstonh

though surely this is advertising?

The reason is it there is based on the advice of compliance to cover any legal issues. You will also frequently see in media articles that they use something similar by saying you should see an IFA.

If you dont like it then post it on the site feed back section and say so. Dont derail other people's threads with your prejudice.
http://forums.moneysavingexpert.com/forumdisplay.php?f=50

You may also like to observe the following comment from Martin:

The site will err on the side of the code following advisers. As advisers obeying the code are under much more stringent rules than normal posters if brokers are following rules 1 to 6 of the code of conduct this site will (resources permitting) be supportive. If posters are trying to stop the flow of information and disrupt it (which includes simply linking to site articles without reason/reasoning) as opposed to simply disagreeing on info or advice the site abuse team will err on the side of brokers.

darkpool

dunstonh wrote: »

The reason is it there is based on the advice of compliance to cover any legal issues. You will also frequently see in media articles that they use something similar by saying you should see an IFA.

If you dont like it then post it on the site feed back section and say so. Dont derail other people's threads with your prejudice.
.

there is a legal reason you have to tell people to visit an IFA? it seems like adverising to me.......

i think the OP is anti IFA already....

darkpool

I guess telling people to go to an IFA isn't advertising.....

"MoneySavingExpert.com is a free site - you cannot pay to buy space - one of the reasons why so many people use it! Equally you are not allowed to advertise any goods, services and/or companies anywhere on the forum, or through private messages (PMs), no matter how honourable the intention."

rpc

darkpool wrote: »

there is a legal reason you have to tell people to visit an IFA? it seems like adverising to me.......

i think the OP is anti IFA already....

Oh knock it off. When I get my pension statement, it always says "you should seek independent advice", when I ask about AVCs they say "you should seek independent advice". Are the pension company advertising IFAs? Or are they just banned from giving anything that resembles 'advice', banned from assuming I am omniscient and therefore required to point me to an independent professional? If I ask anyone regulated, but not authorised in a given area, about anything they say "you should seek independent advice". They have to.

Methinks you misunderstand the burden of being regulated. Should we all just buy blue-chips/gold/silver or whatever? Shirley that's best!

Active vs passive is a worthwhile debate (when conducted well), but this idea that nobody should ever seek any advice from a professional is nursery-grade nonsense.

I also notice that your sig doesn't point out which quintile (of 5) is top performing. It focusses on two. It may be factual, but is misleading.