Royal & SunAlliance Investments' US fund is to have its third fund manager in six months once Julian...
Royal & SunAlliance Investments' US fund is to have its third fund manager in six months once Julian Cook departs in May.
The group is to recruit externally for a replacement to take over Royal & SunAlliance North America from the middle of next month. Cook leaves to join Morgan Stanley Dean Witter
North America is run on a top-down basis, with large blue chip stocks making up between 50% and 75% of the portfolio, and the fund typically holds around 65 stocks.
The top 10 holdings make up 28.16% of the portfolio, with the biggest five being Intel, General Electric, Clena, PCS Group and Electronic Data Systems. The next five largest holdings are in Comdisco, CBS, US West, Citigroup and Microsoft.
Royal & SunAlliance North America has an frA rating and is £173.4m in size. The fund is ranked 21 out of 80 funds in the North America sector over three years on an offer to bid basis on growth of 113.9%. It is 24 out of 86 over one year also on an offer to bid basis on growth of 25.3%.
The fund has 31.7% in technology stocks, 15.3% in utilities and 12.1% in consumer cyclicals. Other sector weightings include 11.7% in financials, 5.1% in consumer staples, 3.4% in raw materials and 4.5% in capital goods.
Underperformance still present – for now
Regtech or fintech
15% increase in number of claims paid
Open architecture philosophy
Inflation above 2% for first this this year