Staying calm amid the storm
06/08/2008
Wealth managers have protected their clients from the unpleasant market turmoil this year, according to the latest Private Client Indices (PCI) produced by Asset Risk Consultants (ARC).
Estimated figures for the year to June 30 show that "Cautious" portfolios run by discretionary managers were down only 1.3 per cent, while funds in the Investment Management Association (IMA) Cautious Managed sector fell 6.5 per cent and the FTSE 100 dropped nearly 13 per cent.
ARC's estimates for other portfolio styles also suggest that discretionary managers are outperforming the benchmark indices for UK investors, created by FTSE and the Association of Private Client Investment Managers and Stockbrokers (APCIMS).
For example, the PCI figures reveal that "Steady Growth" discretionary managers lost only 0.6 per cent in the second quarter of 2008, finishing 6.8 per cent down for the year to end-June.
