Jeremy Dufton Yorkshire Investment Group Asset Management Dear Sir, I have just been reading...
Yorkshire Investment Group
I have just been reading the section in Investment Week 17 June issue on the shortlists for this year's awards.
Those few fund managers running funds of zeros come into the UK Other Bond category, of course, one of the most diverse sectors of all. I don't know how the diversity of this sector has been reflected in the shortlist selection process; if the quants have been stuck to rigidly it will have been difficult maybe?
However, I am surprised that Alastair Mundy at Investec does not appear on the list. His prescience at anticipating the problems in the zeros sector has never, in my opinion, been acknowledged.
The huge switch he made on Investec Capital Accumulator in February 2001 goes down as one of the best things any fund manager has done, ever, for my money.
Reasons for his non-inclusion?
The fund did not make it through to the shortlist because it does not have a three-year track record to 31 March 2002, which is one of our basic rules for being eligible for the awards. We would agree with you that Alastair Mundy has called the zeros market extremely well, as can be seen by comparing his performance to some of the other funds of zeros.
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