Here’s how it goes.
Step 1 - Start 10 funds, invest in any random assortment of anything but make sure each is different
Step 2- Give each a fancy sounding name ‘Positive Beta Global Wealth’ or ‘Emerging Small-Cap Sovereign Returns’
Step 3- Wait 3 years
Step 4- Hey presto, at least one of these will have outperformed the market. Keep it, close the rest.
Step 5- Promote the hell out of ‘Positive Small-Cap Emerging Beta’, full-page spreads in the Sunday Times, maybe a billboard outside London Bridge station
Step 6- Wait 3 years, oops ‘Positive Small-Cap Emerging Beta’ underperformed the market, never mind, if you had any sense you repeated Step 1 a few years ago.