The Wells Street Journal has continued to ruffle feathers in the industry, this time by clearly labelling its articles in a shrewd move at being completely obvious.
Last week, a hack at WSJ sister title Money Marketing regaled an exchange between himself and Hermes Fund Managers co-head of credit Fraser Lundie.
As avid readers of WSJ will remember, Lundie made the point that it was important for managers to be “completely transparent” about fund capacity but when asked about the capacity on his fund, the reply was “I’d rather that was not in the press.”
The comment was duly featured in Out of Context.
Not long after the presses had rolled, a phone call came in to MM towers from none other than a Hermes PR, who took issue with the quote.
Her concern was the tone was not quite right – in her words: “It was a bit, well, out of context.”
She has us there.
Therefore, we are taking steps to ensure such indignation does not happen again. After much wrangling, we are planning to roll out an Out of Context disclaimer above the aptly-named Out of Context section.
Hope that’s cleared things up for everybody.