CFA: Don’t skewer long-term investors

INVESTOR CHAMPION Will Goodhart, chief executive of the CFA Institute, has defended long-term investors, saying: “They should not suffer discrimination on the basis of their holding periods.”

Writing to the Financial Times, he said the discussion about long and short-term investment is “misplaced”, arguing “there is no single optimum holding period”.

The Department for Business, Innovation and Skills has called for evidence on a consultation, Long-term focus for corporate Britain, and some stakeholders have accused short-term investors of irresponsible strategies.

Goodhart (pictured) concluded: “Each group has the same aim – to maximise risk-adjusted returns – but may use different approaches in expressing their views.”


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