By ROBERT HARLEY 19/09/2009
A specialist equity mandate that takes a broad interpretation of the term financials, in the main this will include life and non life insurers, asset managers, brokers, property companies and banks; there are no formal benchmark constraints or performance benchmarks.
De Blonay’s fund is a competitor product to Philip Gibbs’ Jupiter Financial Opportunities. Philip Gibbs’ fund recorded a stronger performance during 2008 on account of operating under a more flexible mandate that enabled him to hold the bulk of the fund’s assets in cash or fixed income securities, however historically Guy De Blonay’s fund has tended to fair better in rising markets. His assets under management are currently just over a 1/10th of those managed by Gibbs. For investors who share the enthusiasm for the sector over the short to medium term, we believe this fund could prove to be a worthwhile option. The fund is awarded a 4 star rating.