The head of Merrill Lynch’s EMEA
portfolio management division, Simon Miles, predicted the
differentiation between active and passive wealth managers will
increase in 2011 as the investment space returns to a ‘more normal’
investment climate. London-based Miles told PBI active
managers that seek out investment opportunities will be able to
demonstrate a superior performance to passive managers.

“Now, because things are starting to
settle down, the ability of managers to identify a good company
versus a bad company is going to start to emerge,” Miles said.

“The big hunt is for yield, but there is no silver bullet. Our
view is not positive on sovereign bonds, but reasonably positive on
equity markets that can give you good dividends,” he added.


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