An adviser has won £20,000 after topping the J.P. Morgan Telegraph Fantasy Fund Manager competition.
Jeremy Silverstone [pictured], an IFA at MFS in Wimbledon, beat more than 35,000 players to win the eight-month league, with a return of 20.55% - over 4% ahead of second place.
He said a contrarian attitude and regular fund switching gave him the edge in the competition.
"I was pretty surprised," he said. "I never expected to win. On the first day I had a bad day, and made some switches that I had to pay for, so I was down in 31,000th place."
After the start of the competition in August, Silverstone went into fixed interest following a market downturn. Many players lost out because of deflation fears, he said.
"From a historical perspective you need to see population falls to see real deflation, like in the Black Death. So I had a lot of index-linked stuff in my portfolio, and they did well quickly.
"People just bought funds that did well last year, like the Russia or China funds, so a lot of people lost so much in the first downturn they were out of the game.
"Then there was a resurgence in November; at that point I went into mining and financials - I made quite a bit off the JPM Global Financials fund.
"I then did a lot of European high yield when the market started picking up [after the height of the sovereign debt crisis], because again I took a view that no matter how bad it appeared, the Greeks wouldn't default.
Adopting an aggressive style, Silverstone's star performer was the M&G European High Yield fund, which he held from September onwards.
However, he reassured clients their money was safe: "It was like me getting a few quid together and playing some poker," he said.
"It doesn't matter if I think the market is going to go down in Q2, I'm not going to sell all my clients out as an IFA.
"Everything is based on long term objectives, attitude to risk and tax. I might tell my clients that something might happen, and do a little bit of protection, but you can't play the market, or you won't be in the industry very long."
Silverstone plans to have "a slightly more expensive holiday" with his winnings, as well as treating his sister to some money.
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