Market and economic variables shift over time meaning that different market regimes require different approaches. Long periods have shown both under- and out-performance on the part of both active and passive approaches.
The key to enduring outperformance is flexibility – being dynamic, recognising that different regimes require different tactics.
However, we believe that responsible management is one that seeks to control volatility - whatever the weather. Moreover, we also subscribe to an approach known as Evidence Based Investing.