Funds Hub

Money managers under the microscope

The unforgivable sin?


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.

rtr21iqqSpeaking at this week’s Hedge 2009 conference in London, Fred Fruitman, managing director of family office Loeb Partners Corporation, referred to anĀ 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?