Nick Train apologises again for poor fund performance
Star fund manager says he is ‘acutely disappointed’ and feels ‘the opposite of pride’ about returns for investors
Star fund manager says he is ‘acutely disappointed’ and feels ‘the opposite of pride’ about returns for investors

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

Stockpicker’s flagship fund failed to beat cash returns in 2025

Sportswear group says latest earnings numbers reflect financial effects from corporate turnaround programme

Publicly traded vehicles are trading at steep discounts in gloomy sign for broader industry

Investors pull net $1.7bn out of vehicle over first quarter as industry strains intensify

Rally in heavily shorted stocks comes as AI hype and hopes of lower rates push S&P 500 to record highs