Fund Objective

The objective of the Fund is to provide long-term capital appreciation through investment primarily in equity securities of mid to large capitalisation corporations listed in the UK.

View on Past Performance

The fund firmly outperformed its benchmark during the month. Positive contributors included stock selection in banks (no exposure in HBOS and Lloyds) and both stock selection and underweight allocation to basic resources. On the contrary, performance detractors included stock selection in financial services (Man Group). We added food manufacturing company (sauces, beverage mixes, snack foods) Premier Foods to the portfolio.

Future Expectations

We apply a disciplined and proven investment process to identify individual stocks that we feel are attractively valued relative to their future prospects. Typically, companies we focus on are characterised by strong business models, financial strength, and management teams of demonstrable competence.

Fund Details