Bestinvest says
Fund manager Robin Geffen combines an astute view on the macro economic influences (global economic environment) with a strong emphasis on fundamental stock research in this growth and dividend focused UK equity fund. As he is the group's CEO this fund must carry some "flagship fund" status. The fund's concentrated portfolio, historically high yield and above average returns set it apart from its peers. However, there have also been marked periods of underperformance. Therefore we have higher conviction in our recommended core funds within the UK Equity Income sector.
The investment objective of the fund is to generate a rising level of income. Whilst income is the main objective there is also potential for capital growth, from an actively managed portfolio invested predominantly in UK securities and UK fixed interest stocks, with some overseas exposure. This portfolio comprises thirty-three equally weighted holdings split into three categories of eleven:
- "Steady Eddies", core income stocks with 5 year dividend growth records;
- "Hidden Fruits", recovery plays awaiting a catalyst for change;
- "Tactical Plays" shorter term ideas reflecting Neptune’s sector views.
Neptune expect the fund's performance to be primarily driven by their top-down, sector driven asset allocation policy. However, stock specific research is also carried out - primarily this is done by their global sector analysts, though the fund manager has ultimate discretion over which companies to include in the portfolio.