Bestinvest says
In September 2009 we downgraded the fund to one star. We have generally been disappointed with the performance of the underlying managers, with the exception of Paul Spencer (mid cap portion), within their respective peer groups. Ultimately we believe in the longer term these managers will hold back the overall performance of the Focus fund relative to other UK equity fund opportunities. Alternative options include Axa Framlington UK Select Opportunities and JO Hambro UK Opportunities.
The fund aims to produce a total return in excess of that of the FTSE All Share index over the medium to long term. Colin Morton (Rensburg UK Blue Chip Growth) manages the blue chip proportion. Paul Spencer (Rensburg UK Mid 250) manages the mid cap proportion, Stuart Sharp (Rensburg UK Smaller Cos) manages the smaller companies proportion and Mark Hall (Rensburg UK Select Growth) has an unrestricted mandate to invest anywhere in the UK market. By virtue of its structure, no more than 50% can be invested in a particular market cap sector. This ensures a broadly based, yet focused portfolio of UK stocks.