Smaller JO Hambro fund gives the rest a run for their money
The £40.85m CF JO Hambro Investment Management Portfolio is proving to be small but mighty, according to the latest top-performing fund of funds table from Morningstar.
The fund, which carries a minimum investment of £50,000, is aimed at the higher net-worth client, who perhaps can afford to give a little more buck for their bang, and with a solid three-year return of 47.44 per cent, compared with the average sector return of 29.55 per cent.
As can be seen in the top performing funds tables (below), the fund also carries a lower average total expense ratio than the Investment Management Association Flexible Investment sector - 1.35 compared with the sector average of 1.81.
It is currently ranked third out of 114 funds in the sector, which also contains multi-asset funds, but first out of the pure multi-manager funds.
Manager Algernon Percy has been running the “aggressive” fund since 2009, and keeps a relatively concentrated list of 30 to 50 holdings of leading global shares and funds; its latest factsheet shows it has a 39.2 per cent exposure to UK equities, with just over 7 per cent exposure to Europe.
The manager said: “More generally, we remain sceptical that Europe can get its house in order in a timely fashion, and this will continue to keep a lid on confidence.”