Fund Focus: Philip Saunders on why he likes 'unfashionable' equities

Fund Focus: Philip Saunders on why he likes 'unfashionable' equities

clock • 5 min read

Philip Saunders, co-manager of Investec Diversified Growth, tells Maria Merricks why, despite general consensus, he will be backing equities for the next 12 months.

  1. What has driven the fund's outperformance over five years?  Strong performance has been attributable to maintaining a growth orientation as markets recovered coming out of the financial crisis, while being highly selective and maintaining a cautious attitude to emerging markets for a large proportion of this time. The above-target return achieved over this period is only half the story though. Achieving our risk objective - delivering returns with half the volatility of equities - is as important as the return target.  We have achieved the returns with less than half the vola...

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