By GIDEON MARGO 11/10/2006
Jenny Jones has been managing this fund since May 2005. It is run in the same way as the US Smaller Companies Fund, which we already rate 3 stars. The only difference is that she will predominantly pick companies with a market cap of between $1 billion and $7 billion, whereas the smaller companies product is made up of stocks less than $2.2 billion in size. The overlap between the two funds is unlikely to go above 30%.
Jones is a bottom up stock picker who has a value oriented style. She targets companies which appear cheap in relation to their growth rate, and companies which are out of favour with the market but where there may be a catalyst to unlock value.
This fund has been awarded 3 stars.