By STEPHEN MARRIOTT 03/04/2008
Under the stewardship of Tom Walker (lead manager since May 2002) this fund has been the top performing fund in the North American sector. The strong returns have been delivered from a tight process which combines a common sense screening process (Dynamic Stock Matrix) with strong fundamental stock picking.
The fund should be considered core for US exposure as sector positions must be kept within +/- 10% of those of the benchmark index. However, it should be noted that the portfolio is concentrated at forty stocks, meaning that at the individual stock level big active bets can be taken.
The fund is awarded three stars.