Financial Times – Fund Managers Asset Writedowns
Original Post – Financial Times
If you’ve ever thought City fund managers spout utter nonsense, this week brings proof: a new study has found that only two of the 60 largest asset management groups communicate at levels understandable by the average consumer. According to VisibleThread’s latest language analysis, many managers have websites with readability scores less than half that of MobyDick or a Harry Potter novel.
Among the worst offenders are Columbia Threadneedle, BNY Mellon and Santander. One company – Eurizon Capital – even managed to score zero. Apparently, fund managers can’t help but write sentences that are five times longer than is recommended for clarity. So who were the two plain speakers? Barclays Wealth Management and Federated Hermes, who both earned a commendable “Grade 8” for intelligibility – and evidently didn’t have their marks revised down by an algorithm.