Russell emphasizes boutique managers

Small investment houses, often called 'boutiques', tend to manage portfolios in a relatively concentrated manner, with fewer stocks and more aggressive performance targets. Larger investment houses often own more stocks, and aim for more stability in their performance. Which is better? Multi-manager fund house Russell has hired 21 boutique managers since the beginning of 2002 and just 12 larger firms. Does this mean that bigger isn't always better when it comes to investment management? We put some of these questions to Peter Gunning, Chief Investment Officer for Russell's regional business.