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SarahBell

Scottish Widows Axing Investment Fund Managers

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"It comes after the house decided to use quantitative investment strategies, where computer programmes are used to determine investments, for many of the portfolios in its £54 billion equities business."

Well computers don't need bonuses

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' One fund management industry source said: "The people who are going are probably the best people in SWIP." '

Doesn't say a lot about the best people then does it?

Nevermind the distinctly average or plain cr@p.

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Its a pretty strange time in asset management industry at the moment, because blue chips, mining, raw materials stocks are all performing well so there isn't a whole lot of scope for value picking 'star' fund managers. Lots of people will be happy to just use a low cost ETF/Tracker and ride out the index.

However computers don't always get it right (after all they are all programmed by people.....and in this case probably people taking advice from former SWIP portfolio managers) so there is still place for decent fund managers.

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"It comes after the house decided to use quantitative investment strategies, where computer programmes are used to determine investments, for many of the portfolios in its £54 billion equities business."

Well computers don't need bonuses

Between commissions and bonuses, computers could make a few percent less profit and still work out better off than humans.

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