Solus Special Sits recovering

The Solus UK Special Situations fund is beginning to show signs of a recovery in performance, following a turbulent two-and-half years since Nigel Thomas gave up the helm to run a similar mandate at ABN Amro. Thomas has since moved to Framlington and the ABN fund has been merged into Artemis UK Special Situations. However, investors who remained in the Solus vehicle from 1 February to 3 March 2003 have seen returns of -59.12%, compared to a UK All Companies sector average of -42.25%. Reasons for the fund's downturn have largely been attributed to the decision of Thomas's replacement...