Bestinvest says
Whilst the overall record of the fund has been strong under the stewardship of Mark Hall, performance more lately has been mixed and not lived up to the manager's former record. We are disappointed that the manager has missed the opportunity to add value in recent years given his historic bias to mid and small cap stocks, which have outperformed the market Furthermore ownership of the company has now changed. The fund is now on our sell list, rated as one star.
This fund draws on the best stock ideas from a boutique style UK equity team - Colin Morton on Large Caps, Paul Spencer on Mid Caps and Stuart Sharp on Small Caps. The multi-cap portfolio primarily invests in core long-term growth opportunities but also tactically engages in short term trading and in interesting value plays. Although the approach is largely driven by bottom up stock picking, the macro economic (global trends and influences) environment is important to Hall. Whilst the manager makes use of sell side analysts, he is not driven by them, but rather utilises them for ideas.