By MARCEL PORCHERON 20/04/2006
Stavis looks for cash flow not reflected in price and undervalued opportunities. He also feels performance was tough in 05-06 because extremes of the market did not under or out performing by much. This meant that his strategy hasn’t been rewarded, whilst his mining underweight has cost him relative on performance.
To put performance into perspective Income Plus has outperformed Lang’s First Income since Stavis took control. Until 2H05 he also kept pace with Nutt’s Jupiter Income and performance against New Star Higher Income has been good. Growth & Income has performed in a similar manner to Income Plus. Stavis' three year MRI is 92.8%.
3 stars awarded to both funds.