It has recently been announced that the managers of CF Miton UK Value Opportunities are leaving and moving to Polar Capital. George Godber and Georgina Hamilton have had a highly successful career working together and their departure creates a real dilemma for investors in the fund. Godber and Hamilton have developed an interesting value-based methodology…
Last July I wrote about a closed-ended German residential property fund that had just listed in London. Unlike most of its UK focused alternatives, Phoenix Spree Deutschland (PSDL) was not trading at a massive premium to NAV and was well placed to benefit from the fact that European interest rates were expected to stay lower…
As seen in the latest issue of Master Investor Magazine. The new pension freedoms that were introduced in April 2015 have been widely welcomed with one of the most popular features being income drawdown. According to data from the Association of British Insurers, 43,800 people invested a total of £2.85bn in these plans in the…
On November 26th I wrote about the opportunity to buy gold mining funds at rock bottom prices. The main premise was that the price of gold had fallen close to a six-year low and this was threatening the viability of some of the mining operations. It would only take a small increase in the value…
A multi-manager fund that allocates its money to a number of specialist, external managers has the potential to deliver consistent outperformance while diversifying more of the risk. The trick is to appoint the right combination of people and mandates so that you don’t accidentally end up with an expensive closet tracker. A good example of…
The UK Equity Income sector is home to a number of multi-billion pound funds, but it is a relative minnow that is generating some of the strongest returns. Ardevora UK Income has just £222m in assets under management, yet it is the third-best performer over five years with a gain of 76.3% and also has…
Views differ as to whether it is better to be a value or a growth investor, but over the last few months there has only been one winner. Since the start of 2015 the FTSE 350 Lower Yield (growth) index has risen by about 1%, whereas its value based counterpart, the FTSE 350 Higher Yield…
The Royal London Short Duration Global High Yield Bond Fund These are difficult times for income investors, but it is still possible to earn a decent yield if you know where to look. A good example is the Royal London Short Duration Global High Yield Bond fund. This £314m OEIC has carved out a niche…
The recent market volatility has vividly highlighted the risks associated with mainstream equity funds. In the first few weeks of the year the FTSE 100 index lost more than 9% of its value and although it has since recovered not everyone is comfortable with these sorts of fluctuations in their wealth. Risk averse investors who…
The AIC has recently published some interesting research that compares the risk and performance of investment companies and open-ended funds. It shows that the former tend to be more volatile because of gearing − they can borrow to increase the amount of money they have to invest − and the fact that the shares can…
