The pros and cons of paying an active manager to hunt down outperformance are often hotly debated, and this week we join in.

In the latest edition of the Asset Allocator Podcast, Dave Baxter, Joseph Wilkins and David Thorpe debate some recent comments by Sparrows Capital's chief investment officer that hunting down alpha is, ultimately, futile.

They also discuss the legacy of Neil Woodford on fund selection, the large US exposures in allocators' favourite global equity funds and they weigh up the pros and cons of a Chrysalis recovery play.

The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.

It is available on Spotify, Apple Podcasts, Google Podcasts, Acast and most other major podcast platforms.