Bestinvest says
The fund is run by one of the most respected fund managers in the peer group with a proven track record across market cycles. The fund is managed with a view to delivering out performance relative to the peer group, consequently the broader performance characteristics of the fund are unlikely to deviate substantially from those of the broader asset class. Historically the manager has been one of the more conservative investors across his peer group, but has still achieved a strong risk return credentials.
The fund is benchmarked for performance purposes against the peer group, with the aim of providing superior risk adjusted returns. The investment process is split approximately 50/50 between quantitative driven models and traditional fundamental analysis. The manager will seek to add value through asset allocation (gilt or non-gilt), sector selection (credit rating and industry), yield curve strategy and individual stock selection. The portfolio is structured to provide exposure to diversified sources of alpha to ensure that no particular strategy dominates the risk profile of the fund and active trades have as little correlation as possible with each other. Relative duration positions are measured against the Merrill Lynch Euro-Sterling index.