We also like managers who are happy to make changes for the better of the portfolio. This fund is a primary example, with Bennett and the team taking the decision a couple of years ago to increase the concentration/conviction in this fund to improve the active characteristics of the portfolio.
The decision has proved a successful one. In the past three years the fund is top quartile in the Investment Association Europe ex-UK sector, returning 32 per cent to investors versus a peer group average of 24 per cent. The fund has an ongoing charges figure of 0.85 per cent.
Bennett's extensive experience and pragmatic approach means he and his team consider the overall macroeconomic environment and sector trends, as well as the criteria of individual companies – a style that has led to outstanding performance.
This fund has to be on investors’ radar as a way to tap into some of the great active opportunities on offer in Europe.
Darius McDermott is managing director of FundCalibre
