Tribune Global Managed outperforms benchmark

The Tribune Global Managed fund, run by Chris Lees, has begun to outperform its benchmark for the first time since its parent Baring Tribune Investment Trust was split into two separate pools of assets in 1998. For the year to the end of June 2003, the fund's NAV increased by 6.5%, compared to its benchmark, a composite of 50% FTSE World ex-UK and 50% FTSE All-Share indices, which rose 6%. Lees took over the £87.4m pool of assets from Mark Baring in April 2002 and attributes much of the rise in performance to his decision to concentrate the portfolio down from 187 stocks to 83 at the en...