Tim Russell, manager of the offshore HSBC GIF UK Equity Fund, is the only fund manager to have been ...
Tim Russell, manager of the offshore HSBC GIF UK Equity Fund, is the only fund manager to have been given an AAA rating in the latest review by Forsyth Partners
Peter Toogood, director of research at Forsyth, said Russell of HSBC earned his AAA rating, upgraded from a previous AA rating, due to his application of business cycle philosophy combined with excellent stockpicking skills. The tracking error of the HSBC portfolio has been maintained around the 2.5% level with a cash weighting that has been in the region of 15% throughout most of the last three months, he added
Russell believes that the current level of volatility justifies an opportunistic approach to portfolio management in selected stocks and sectors. He also expected rates will move higher in the next 12 months
New AA ratings from Forsyth include an uprating for Stephen Kelly, manager of the Framlington International Portfolio's American Growth Fund, Tim Gregory, manager of the Gartmore CS UK Fund and Peter Davies, manager of the Mercury OST UK Fund. Other AA ratings include Jonathan Sharpe who manages the Gartmore CS Continental European Smaller Companies Fund, Adrian Farthing at Hill Samuel, who manages the Lloyds TSB European Equity Fund, and Tony Zucker at Thames River Capital
Among these, Toogood is particularly impressed with Kelly's management of the Framlington American Growth Fund
Toogood said: "The uprating of this fund is justified on the grounds that is has been successfully managed through some extremely volatile market movements, including a huge growth to value switch and through the capitalisation scale
Forsyth Partners' qualitative analysis is used by more than 200 private banks and other asset management firms. It is a subscription service updated monthly
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