Ashburton's European fund goes fishing for high returns

The Ashburton European fund not only invests in individual stock positions, but other funds as well. Currently the fund, managed by Calvin Vaudin, is favouring commodities and salmon stocks. Richard Robinson assists Vaudin in running the fund, which has produced a compound annual return of 35% versus its benchmark MSCI Europe of 19% over the last three years. Robinson says: "The fund is overweight in oil. The industry has suffered considerable under-investment since the mid-1980s and, combined with the high oil price, drilling capacity has been extremely tight." Due to this, Robinson is ...