By MARCEL PORCHERON 22/05/2006
Mike Felton has been managing this fund since January 2005. A concentrated portfolio of 30-40 stocks with a bottom-up focus, Felton strives to generate a return greater than his peer group and by taking a lower level of risk. The result is that he outperforms a little, but often. This is achieved through splitting the fund into two components: 60% represents a core portfolio consisting of large blue chip names, with the objective of reducing overall volatility. The remainder is invested into racier small and mid cap stocks which are intended to create excess returns versus the benchmark. This is a focused portfolio which could represent a core holding for UK equity exposure due to the tight risk controls in place.
3 stars awarded