Funds of investment trusts dominated the multi-manager performance tables last year, benefiting from the deep discounts which opened up for underlying companies during the market downturn.
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,”...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes