Vanguard Target retirement funds for SIPP

jamesd

When looking at persistence or not of performance it's important to look at the methodology because one of two systematic failures is almost always present for active funds:

1. Completely ignoring changes if manager
2. Saying they control for change of manager but meaning fund management company and still ignoring the changes of human manager

The ancient look at the global growth sector in discussions here shows why: leaving the top ten was caused by change of human manager and otherwise persisted. Ignore that change and the study will incorrectly report lack of persistence.