Investors picking where to entrust their money are seeking a safe pair of hands, with fund managers who are among the best in the business and able to deliver stellar long-term returns.
In December 2011 we highlighted a number of rising stars, including Stuart Rhodes of M&G, Alex Wright of Fidelity, Paul Marriage of Cazenove, Leonard Charlton of Melchior, and Jason Pidcock of Newton. But while most continue to climb steadily through the ranks, some have fallen by the wayside, demonstrating the perils of chasing star fund managers in pursuit of profit.
One whose star sank was Leonard Charlton, manager of the Melchior European Absolute Return Fund, which fell by 5.18 per cent over 2012, compared with a rise of 12.3 per cent for the FTSE All-Share Index.