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Replacing managers

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.