A 21-minute watch. 

In this must-watch interview, Gary Potter, co-head of multi-manager at BMO, talks to Gary Shepherd about the real differences between multi-asset and multi-manager, and why asset allocation-driven returns is the industry’s ‘biggest fallacy’. 

Gary outlines his philosophy that “people make money, not things” and why there’s no better way to invest.

“It’s just how you execute,” he asserts. “We chose as a team of 10 to execute that through primarily bottom-up manager selection.

“Ultimately if you find the right manager with the right asset class at the right place at the right time with the right fund structure, you’ll make a lot more money than by trying to move a bit of Asia into Europe or protecting a bit of that through put options”.

Gary also gives his views on the liquidity issues facing the funds industry, and his fears about an “every narrowing” range of investments.

Enjoy this discussion? Check out our written interview with Gary, where he talks in more detail about his experiences dealing with fund managers, and the “commoditisation” of options for advisers wanting to outsource.