Terry Smith tells investors not to expect returns every year
Stockpicker’s flagship fund failed to beat cash returns in 2025
Stockpicker’s flagship fund failed to beat cash returns in 2025

Active managers such as Nick Train and Terry Smith have struggled amid the rise of passive funds and US tech stocks

Performance has lagged at Paul Singer’s hedge fund amid concerns that large size is barrier to strong returns

Portfolio management should be based more on themes such as innovation

The three lessons I learned as a professional money manager

Portfolios holding precious metals performed well in last year’s rollercoaster market

As investors seek to retrieve their money, the $22tn industry rejects comparisons with 2008. Regulators aren’t so sure