Stewart Investors Asia Pacific management team resigns

Prism

Still mostly active for me, and still outperforming 'just' over the long run, since I began measuring in 2015. I have not got back into an active Asia or EM fund since FEET though.

aroominyork

Prism said:

Still mostly active for me, and still outperforming 'just' over the long run, since I began measuring in 2015. I have not got back into an active Asia or EM fund since FEET though.

You've been quiet, my friend. Still committed to Fundsmith?

Prism

aroominyork said:

Prism said:

Still mostly active for me, and still outperforming 'just' over the long run, since I began measuring in 2015. I have not got back into an active Asia or EM fund since FEET though.

You've been quiet, my friend. Still committed to Fundsmith?

Yes for my sins  

Although as it was doing well until 2020 I was rebalancing out of it from time to time into other funds and since the 2022 drop I have been adding back in with all of my workplace pension contributions. So I reckon overall I have outperformed actual Fundsmith.

Just checked and in my SIPP and workplace pension combined I am 44% Fundsmith at the moment. 

I have had active funds that have done much worse over the last 5 years - Free spirit and Chrysalis mainly

masonic

aroominyork said:

I was being lazy, masonic, and since index funds generally outperform the sector data (demonstrating that active funds underperform the index) I guess I was providing flawed data. I only came across the resignations after I had already decided to sell the fund next week. Like the other active funds I've sold this year (Fundsmith Sustainable and Liontrust Micro Cap) I'm selling low, but since I've been reducing my stake over the last few years as I moved from active to passive I might have got out of them slightly ahead. For anyone reading this who is new to investing and figures they can beat the market, save yourself a few years and just go passive. I was about 8% ahead of the index a few years ago and thought this game was so easy, but the inevitable caught up with me.  (Drinks are on Bostonerimus!)

I remember back in the 2000s and 2010s it seemed a lot easier to pick active funds that would go on to beat passive, but it seems to have been a case of conditions being right for a subset of funds over a prolonged period. I started out fully passive (albeit with 1% AMC) and from there transitioned to mostly active post-GFC. At that time it seemed like any investment strategy would work and for a good period after outperformance could be achieved by simply dialling up risk. I caught some lucky breaks, but also had a few disappointments. I started culling my active equity funds about 7 or 8 years ago, but it took until a couple of months ago for me to ditch the last one. It is not a game I would play today.

aroominyork

Luckily for Prism, me and maybe you masonic, we made some hay before coming down to earth. I'm 0.5% ahead of the benchmark (the way I calculate it) so it's been a lot of work but it hasn't cost me, and I do enjoy this stuff.

mebu60

mebu60 said:

Asia hasn't been great generally over recent times but I'm slightly up on this fund in the past year and 116% up overall (a good few years). It's still showing as a Fidelity Select 50 recommendation for what that's worth. 

Is part of a decent sized portfolio in a longstanding S&S ISA so no plans to change at this time. Appreciate the info, thanks for sharing.

And four days later now up 119%!