Money managers under the microscope
News and views on the asset management industry from Reuters and elsewhere
The exact nature of the so-called ‘unforgiveable sin’ in Mark 3:29 has been a subject of debate for centuries, but maybe one fund executive has put his finger on it.
Speaking at this week’s Hedge 2009 conference in London, Fred Fruitman, managing director of family office Loeb Partners Corporation, referred to an FT article this week showing the Church of England’s pension scheme had a “huge great hole” after putting all its investments into stocks towards the end of the ’90s bull market. Financial blasphemy?