Why I wouldn't take 20% of your profits

Overpaid fund managers have left many investors feeling duped with their inflated performance fees. Tom Bulford exposes the hidden numbers and pitfalls every investor should be aware of when investing in funds.

A few weeks ago I was contacted by a man who, disillusioned with the performance of hisfund manager, had decided toinvest his money directly.

That's brilliant. It's exactly the way every investor should be thinking, in my view. The whole City machine is a racket and the sooner private investors sack their overpaid money managers, the better.

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Tom worked as a fund manager in the City of London and in Hong Kong for over 20 years. As a director with Schroder Investment Management International he was responsible for £2 billion of foreign clients' money, and launched what became Argentina's largest mutual fund. Now working from his home in Oxfordshire, Tom Bulford helps private investors with his premium tipping newsletter, Red Hot Biotech Alert.