By GIDEON MARGO 11/10/2006
The philosophy of this fund is based on the belief that sustainable competitive advantage is rare and the focus should be on the dynamics of change. The team attempt to identify the forces of change in economies and which companies are likely to benefit. However, the fund has struggled to outperform the benchmark on a consistent basis. Within the last year, the team lost a key member, and they are now making changes to the process.
Following a review of our recommended fund list we have withdrawn our rating on this product owing to the availability of higher conviction alternatives elsewhere.