The team is incredibly disciplined with purchasing and will patiently wait for a price to fall to a level they find palatable.
The managers are steadfast about not meeting company management teams. They believe the full story of a company can be found in the financial statements and not what they hear from the directors. This helps them stay true to their value style.
The portfolio composition can vary, but it is usually very easy to predict. The fund will also have a greater mid-cap focus than the benchmark and will be subsequently underweight the large and mega-cap names. The fund currently has its largest position in financials (17.8 per cent) while Natwest Group (3 per cent) is the largest individual holding. The fund’s ongoing charge stands at 0.94 per cent.
Regardless of where the rally goes from here, the past few months have taught us that value as an investment style is very much alive and kicking.
Whether you are a big believer in the style – or simply looking to hedge your bets following a decade of growth – we feel this exceptional investment team is perfectly positioned to help you do both.
Darius McDermott is managing director of FundCalibre
