What your fund manager isn’t telling you

For years, fund managers have grown fat on their clients' money, while giving little back. Tom Bulford explains what you should do if you're fed up with lousy returns.

Back in 1992, I went to one of London's finest restaurants to listen to a director of one of the City's biggest fund-management houses giving his view on Midland Bank. The bank was facing a takeover bid from HSBC at the time. "There is", he opined, "a lot of fat in that company".

I chuckled to myself as he sat scoffing down an exquisite meal that he was charging on expenses the irony of the situation was lost on him.

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MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.