The following article was written by Ryan Sinnott and published by The Financial Times in November 2019.
Fund houses often lose their way as they diversify and become too big.
Affiliated Managers Group in May wrote down its stake in hedge fund BlueMountain Capital by $415m. Five months later, Assured Guaranty bought the business for $160m. What went wrong? The rules for running a successful active asset manager are simple but time and time again those rules are broken. Read more here