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New Barn

Manor Farm Courtyard

Southam Lane




GL52 3PB

Phone: +44 (0)1242 514563

© 2018 by HDA Chartered Financial Planners

The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren't able to resolve themselves. To contact the Financial Ombudsman Service please visit www.financial-ombudsman.org.uk.

HDA is the trading name of Hugh Davies Associates Limited which is authorised and regulated by the Financial Conduct Authority (Firm no. 125569). Registered in England No. 1998413.   Registered Office New Barn, Manor Farm Courtyard, Southam Lane, Southam, Cheltenham, GL52 3PB.  Telephone: 01242 514563

  • Robin Etherington

Active or Passive - Missing the Point!

Many articles have been written about active versus passive management. Active management aims to outperform a benchmark (such as the FTSE-World Index) by careful sector and stock selection. Passive management simply replicates the index and tracks it up and down. An actively managed investment fund will typically cost c. 0.75% per annum. Passive funds are available for 0.10% per annum or less.

The fact is that these arguments miss the point. There is a place for both management styles in a diversified portfolio. The most important ingredient is active risk management (ARM).

Who is putting their ARM around your investment or pension portfolio?

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