Mixing Management Styles Is a Simple Thing for Beaumont
While other managers agonise over the issue, Michael Dobson, founder of newly created Beaumont Capital, says mixing the management of long/short with long-only portfolios is simplicity itself.
He says: "You've got to be set up to do both on an absolute return basis. We manage global and European equities in this way.
"I'd agree that firms mixing long/short with index-benchmarked institutional funds face more of a challenge. But we are seeking to cater for the wealth market, so that's not a problem for us."
Dobson should know what he is talking about, as former chairman of Deutsche Asset Management and its voice on the Deutsche Bank Vorstand.
He became renowned as helping to push Morgan Grenfell forward, under the lead of Sir John Craven, prior to its purchase by Deutsche.
He recalls in vivid detail the day they decided to close Morgan Grenfell Securities: "A painful decision, but sensible, given its lack of market share," he says.
Over the years, Dobson became used to dealing with big company politics: "It's not always straightforward," he says.
Tempers really frayed at Deutsche when its Vorstand decided the firm should merge with Dresdner, and sell its German asset management arm DWS, to Allianz, Dresdner's main backer, to facilitate the deal.
Dobson felt obliged to resign …
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Publication information: Article title: Mixing Management Styles Is a Simple Thing for Beaumont. Contributors: Not available. Newspaper title: Financial News. Publication date: July 2, 2001. Page number: Not available. © Not available. COPYRIGHT 2001 Gale Group.
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