Top-down approach pays dividends

A steep contrast between the new and old ways of running money can be seen in an analysis of the Global Growth sector over the past three years. The two best performing funds in the three years to the end of June 2003, St James's Place Recovery and GAM International Growth, are both managed by Andrew Green, who takes a largely top-down view in looking for undervalued sectors. Over this period, GAM International Growth produced a return of 9.36%, while St James's Place Recovery returned 7.09%. This compares to the sector average return of -38.64%. Although theme funds were popular du...