Martin Gray talks to Joanna Faith about why he is bullish on Japanese equities, what it would take for him to invest in Europe and why he has so much cash in his portfolio.
The Miton Special Situations fund is not your typical special situations offering. Rather than investing in out of line equities, as its name would suggest, the fund holds a mixture of global equities, bonds and cash. Martin Gray has been managing the macro-driven vehicle since its launch in 1997 and over that period it has delivered returns of 286%, compared to a sector average of 92%. Of particular note was its outperformance in 2008 - it was up 0.3% compared to the average fund in the sector which was down 24.4%. Also of interest is its low volatility. Over three years, annualised ...
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