Rensburg UK Mid Cap Growth - Leigh leaves
After 5 years running their UK Mid Cap Growth fund, manager Leigh Himsworth has left Rensburg to join Royal London. The fund achieved top decile performance in the UK All Companies sector during his tenure, but this is largely explained by the strong performance of its mid cap universe - the fund has underperformed the FTSE 250 over this time.
Himsworth’s replacement, Paul Spencer, is rejoining Rensburg having previously worked there from 1987 to 1995. During that time he spent four years managing their UK Smaller Companies fund, achieving an MRI of 99.9%, but he has no track record running mid cap funds.
Recommendation
This fund is not currently rated by Bestinvest and, with new manager Paul Spencer lacking a track record in the sector, we see no reason to change this view. Investors requiring FTSE 250 exposure should consider the Old Mutual UK Select Mid Cap fund, run by Ashton Bradbury, which has a four star rating from Bestinvest.
Market latest
|
Index
|
Points
|
+/-
|
| FTSE 100 |
5867.64 |
0.42%
|
| FTSE 250 |
11154.00 |
0.75%
|
| FTSE All Share |
3029.89 |
0.45%
|
| FTSE Euro 100 |
2228.41 |
0.66%
|
| S&P 500 |
1339.70 |
0.34%
|
| Nasdaq |
2887.10 |
0.51%
|
| Hang Seng |
20709.94 |
–
|
| Nikkei 225 |
8917.52 |
0.13%
|
Values delayed by at least 15 minutes.
Source: Financial Express