Bestinvest says
Performance on this fund was good up until the "credit crunch" period (2007/8) but since then the fund appears to have lost its way. As such, the fund's manager, Neil Rogan, has added has added little value over his career and therefore we have higher conviction in other funds in the IMA Global sector.
The Fund aims to achieve a long-term return, in excess of that typically achieved from global equity markets, by investing in a concentrated portfolio. The process generally focuses on large stocks, capitalised at least US$1 billion, with earnings growth that will exceed or be sustained beyond market expectations, as well as avoiding companies whose earnings growth may disappoint. The majority of ideas are sourced from the in house Global Equity Team (c60%) Within this sphere, as well as the manager and regional team, ideas may come from from quantitative screens, broker research, the media (both financial and trade journals) and from company meetings. Companies are assessed first by undertaking industry analysis to look at the prospects for a sector, then by franchise analysis to see if they have a competitive advantage within the sector. This is supplemented by a tactical assessment of short term share price movements to optimise the timing of trades. Typically, a portfolio contains 50% strategic holdings (long term investments) and 50% tactical (shorter term) holdings.