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BMO fund manager offers apologies after steep losses – report

The Navigator funds have been badly hit after managers misjudged the impact of the coronavirus pandemic

A portfolio manager at BMO Global Asset Management, the fund manager, has apologised to investors for underestimating the scale of the coronavirus crisis.

Rob Burdett, who runs the £1.4bn Navigator multi-manager funds, described the losses sustained by his funds as “horrific” in an online presentation to investors last week, according to a report by Wealth Manager.

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