Passports and Payout Ratios

摘要

For many of the world's most successful stock pickers, management by committee is anathema. However, when you have four coman-agers of a single mutual fund who spend the vast majority of their time on the road scouring foreign cities from Santiago to Kuala Lumpur for good stocks, the logistical nightmare of making timely buy/sell decisions would seem to be overwhelming. David Ruff, manager of Forward International Dividend Fund, shrugs off the prickly obstacle. "We use the cloud," he says, referring to the daily practice he and his three coman-agers, Randall Coleman, Bruce Brewington and Eric Sagmeister, have of reviewing one another's notes on meetings and analysis in real time using the mobile productivity application Evernote.