Multi-asset approach failed on Midas flagship funds

The £722m CF Midas Balanced Income fund is fourth-quartile in the IMA Balanced Managed sector over one year, down 9.1%; while the £552m CF Midas Balanced Growth fund has fallen 10.5% over the same period. Midas says although it is operating in the midst of unusual markets, its approach “has not worked well since last summer”. “Recent months have re-enforced narrow leadership in a range of markets and sectors, which began to develop last year, particularly among assets associated with the long term Asian growth story,” it says. “This growth/momentum focus has favoured managers with a more...