Top 10% of UK funds suffer departures

Just over 10% of UK All Companies funds delivered a positive return in the three years to June 2002. But among those leading performers, many have had fund manager changes during the past 12 months alone. Solus UK Special Situations, for example, was the best performer in the peer group, returning 92.73%, compared to a sector average of -14.11%. Much of that performance was achieved by former manager, Nigel Thomas, who in the discrete year from July 1999 to June 2000 delivered returns of 140.2%, compared to the sector average of 10.31%. This was largely achieved through an emphasis on...