Generally speaking, any fund is going to get its best performance in its early years. There's less money, the fund is more nimble, the manager is more hungry. |
If you're doing a total paradigm shift and completely changing the investment mandate of the fund, then at least in theory, the positions are not going to make sense. |
It's one of those things that make you proud. Seeing all these people come out and contributing, whether they were directly affected or not, is really heartwarming. |