There is a rather tired debate in the investment world about the merits of paying a fund manager to look after your money instead of investing in a low-cost index. This is not a column about that — I believe in the merits of fund managers and indexed investments.
However, I have changed my view on paying fund managers to buy shares on the JSE. Good SA active managers can add value in balanced funds, cautious funds and offshore portfolios, but I have serious concerns about equity-only active funds in SA.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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