We have chosen managers for the Researched Range for the medium to long term and do not anticipate changing them frequently. However, we would consider making a change if we believed this would be in the best interests of investors. Reasons for potential replacement would include:
- organisational change or change in investment personnel
- change in investment philosophy or process
- drift from our expectations regarding behaviour, portfolio positioning or performance
- identification of a better opportunity.
If we were to conclude that a manager change is necessary, we would give all investors adequate notice.