This suggests that, in the improving UK economy, those managers looking to focus on growth and undervalued or mispriced situations are the ones that have fared best in the past 12 months.
Topping the table is the £172.8m R&M UK Equity Long Term Recovery fund, managed by Hugh Sergeant, which invests in stocks that “meet the manager’s recovery criteria of a turnaround in company profitability over the longer term”.
Interestingly, at the opposite end of the spectrum there is a more mixed bag of funds, including two alpha funds, and a growth fund, as well as recovery and special situations strategies.
This highlights that while the macroeconomic environment might benefit some strategies and approaches better than others, the important factor remains the underlying stock selection and investment.
Nyree Stewart is features editor at Investment Adviser
