Shaming 基金s that fail 投資家s

By Fiona Walsh
Updated: 00:00 BST, 9 August 2002

?

IN the cosy, 料金-driven world of 基金 管理／経営, Jonathan Compton is not a popular man. The former Samuel Montagu and 明らかにするing 資産 管理／経営 基金 経営者／支配人 目的（とする）s to shake up the multi-billion 続けざまに猛撃する 産業 with a 議論の的になる new 基金 that 約束s a 'no 伸び（る）, no 料金' （売買）手数料，委託（する）／委員会／権限 structure and rebates for chronic underperformance.

This is, of course, unheard of in 従来の 基金 管理／経営 circles, where 経営者／支配人s take 料金s of up to 1.5% in good years and bad. In the good years, a monkey with a 始める，決める of darts could have made money selecting 株, and those 料金s were easily earned.

Now the bad times are here, many 基金s are failing dismally to 避難所 their 投資家s from the 低迷, 明らかにする／漏らすing themselves to have been closet, but expensive, tracker 基金s all along. Yet the 料金s remain the same. Compton, best 述べるd as a 無所属の政治家, certainly has an 注目する，もくろむ for publicity, from the 挑発的な 指名する of his new 基金 - Bedlam 資産 管理／経営 - to the reproduction of Munch's The 叫び声をあげる on the prospectus cover, 完全にする with a widget that 問題／発行するs a 血-curdling shriek when it is opened. Having made his millions in the bull market, he is 明確に on a crusade and 約束s to be ひどく 批判的な of 従来の 基金 経営者／支配人s.

The 業績／成果 （米）棚上げする／（英）提議するs so beloved by the 産業 will be a 的, and he ーするつもりであるs to 指名する and shame. This will not go 負かす／撃墜する 井戸／弁護士席 and 名誉き損 法律 会社／堅い Mishcon de Reya is already onside for the 推定する／予想するd 報復の 活動／戦闘 from the 設立. Take away the hype - Compton says he will work for the 最小限-行う of £4.10 an hour to keep costs 負かす／撃墜する - and he 明確に has a point. 投資家s have been very 貧しく served by the 産業 in 最近の years.

There is no 保証（人） that the Bedlam man, who is putting £700,000 of his own cash into the 基金, will do any better than the 残り／休憩（する） of them. But he is 明確に out to make waves and, who knows, he might just make some money along the way. It should at least be an entertaining ride.

Shocking 明言する／公表するs

NEWS of a new $3.3bn 黒人／ボイコット 穴を開ける in 破産者／倒産した telecoms 巨大（な） WorldCom is not 正確に／まさに a surprise, nor will it make much difference to the 結局の 運命／宿命 of the group. As one 分析家 said, the horse that was already dead just turned out to be even more dead than it first looked.

Bu t the 衝撃 of these 最新の 発覚s will 高くする，増す the 高度に nervous 明言する／公表する of the American market, already on tenterhooks ahead of the 14 August 最終期限 for 長，指導者 (n)役員／(a)執行力のあるs to 断言する on 誓い that their 最新の results were 正確な. Several hundred company 長，指導者s have yet to 調印する and その上の shocks are 必然的な.

Carer needed

THERE was only one surprise in yesterday's news that the 兵たん業務 director of Mothercare is to be 取って代わるd - and that was that he was still there. The group, without a 長，指導者 (n)役員／(a)執行力のある since Chris ツバメ fell on his sword last month, has been brought to its 膝s by 倉庫／問屋ing and 配当 problems.

These difficulties, we were 保証するd, had been sorted out but 報告（する）／憶測s of その上の glitches saw another 14% 削除するd from the 株 price yesterday, bringing it 負かす／撃墜する to 105p.

That values the group, one of the best-known 指名するs in the High Street, at a paltry £74m. It surely cannot be much longer before someone decides to take it out of its 悲惨. If not a 投機・賭ける 資本／首都 会社／堅い, then how about Philip Green of Bhs 広範囲にわたる 支援する in to 選ぶ up the part of the Storehouse empire he so sensibly left behind last time?