Interesting - Fisher Growth is huge, over $1bn under management. Forsyth Bar Growth has the better 1 year returns but just $13m under management.
Good link guys
Any monkey can get good returns with a small, nimble fund. Generating ongoing good returns from a large fund is very difficult. Which is why most fund managers close their doors on a product at at some arbitrary level of capacity. Size impacts returns. Too big and you end up with median returns.
So what strategy do you follow? personally i don't like funds as it's hard to ever understand if you're doing reasonably well, but I agree on your comments about providers closing funds - sometimes they split them too (see Fidelity's split of their major UK portfolio with Anthony Bolton was in charge)
I try to make sure that my provider is in the top quartile for each of 3 and 5 years. If they dont have a track record of 3 years then I'm not that interested as they will probably dial up the risk to get a good immediate track record. They also need to be outperforming the benchmark but its pretty rare for those in the top quartile to be below the benchmark (unless everyone is unhedged vs a benchmark that assumes hedging).
At some point I'll probably collate all the quarterly numbers and calculate information ratios. But my apathy is too great at this stage.