I have managed my own money only, but have considered also managing others. I have made decent returns, but they don't stand out from the masses, since 2009 was a very good investment year (just buy&hold anything). My target is to make 20-25%
annual gain, and last year I made around 45%...In 2008 I lost something like 5% (I was only learning to trade FX then) and before 2008 I did not trade FX, only stocks (already since dot-com bubble). My equity is around 100k in Euros.
Here are some reasons why I have not made it to money management yet:
-I don't have contacts in the industry, so I would have to work hard as salesperson to get real customers (and develop contacts also)
-If I signed up couple of friends as 'customers', they would have so little to invest that I would make virtually no money as management fees....e.g. 1000euros each customer would be just a nuiscance to manage.
-I barely have enough time to do all the work needed to trade FX well enough
-I want to have a good track record to show (2009 record is not enough, since the year was too easy to make money)
I live in Finland and it would propably be very diffucult to get big customers here locally. There are even no jobs here at forex industry at all. How likely it is that people would invest in my managed accounts if I would not meet them personally, but over Internet only? that would propably be again very small under 10k euros accounts.