“Hot or Not 2025: A bruising year for ‘star’ managers”

Feb 5, 2026 | Financial Services

An independent (financial adviser’s) view

More fuel to the ‘active or passive’ fire, much rehearsed on these pages. Black will argue blue that, yes, of course passive funds did better last year. When everything’s going up it’s easy, you just follow the stock market index. We’ll have our day, say the active managers, when the going gets tough. Many or most thought it would last year, so reduced their investments in the US stock market and AI shares and as a result missed out on most of the growth. And the ‘mix and match’ approach, where a fund manager moves money around between passive funds or portfolios include both can be equally hit and miss. Our thoughts and those of many are that the passive approach is proven through both thick and thin now, hang on in there and they usually win. But if you want to be specific in your aims, particularly ethically and responsibly, you do need someone to make the choices.

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Budget Rumours and Possibilities

The Budget Rumour Machine is not the shambles it was last year. Before Rachel’s Swansong all sorts of stuff was leaked to see what sort of puddle it would create.

Banks are opening branches again!

There’s a branch of Santander in Oxford which has a cafe, ‘co-working spaces and bookable meeting rooms as well as standard banking facilities’. And this, it seems is going to be a thing, as Barclays, too, has decided to reopen branches which will also include trendy cafes (well, a Costa) and chill-out work areas.

Why do 70% not get advice when taking pension benefits?

In the age of the internet, you can DIY pretty much anything. It will tell you how to fix your electrics or plumbing. You can book a holiday,, service a car old enough not to require the attachment of a laptop – and, of course, invest and advise yourself financially.