15th May 2015
So what’s the best model I have seen so far? Now it may come from Andrew McNally and George Cooper, the founders of a new fund management firm called Equitile. There’s nothing here for you to invest in yet (when there is I am certain that the firm’s focus on corporate resilience will make it worth investing in and I will tell you all about it). But when Mr McNally and I met recently we talked about a system whereby a low ad valorem fee would be charged on enough of the assets under management to cover the costs and basic pay of the business (remember you have to pay good managers just enough to stop them leaving to work for more aggressively rapacious businesses) and a performance fee on the rest.