Active management can work if a fund is small and focused. Adam Rackley has big plans, he tells Merryn Somerset Webb.
When Adam Rackley was setting up his fledgling value fund last October, he focused on what he sees as the industry’s biggest problems: size and fees. He will “soft close” the fund at £100m (no new clients will be able to invest) and “hard close” it at £200m (existing clients won’t be able to top up). That £200m will be invested in a very concentrated portfolio of equities – the top ten holdings currently make up more than [...]