Funds of investment trusts lead MM sector in 2009

Of the top 20 multi-manager portfolios of 2009, 11 were funds of investment trusts, while a further three were focused primarily on Asia/Pacific equities. Henderson New Star manager Paul Craig had three of the top eight performing multi-manager funds last year. Craig says his New Star Strategic fund range, along with his top-performing Cirilium portfolios, have rebounded strongly after some holdings were faced with the widest discounts for more than a decade. “While our managers have performed well on a NAV basis, we have also seen discounts tightening over the past 12 months too,”...