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Top 5/Bottom 5: Mixed investment 40-85% shares

Which mixed equity funds had a stellar year and which trailed behind average? We name the winners in our guide

By Aimee Steen | Published Oct 01, 2012 | comments

The IMA sector, Mixed Investment 40-85% Shares, is an interesting grouping, pulling together funds with equity limits but few other constraints.

Performance in this category is based largely on the manager’s ability to manage the equity exposure. Between 40 and 85 per cent must be held in shares and at least 50 per cent must be held in established market currencies – the US dollar, sterling and the euro – of which 25 per cent must be sterling. There are no limits on cash or fixed income.

The flexible nature of the sector means varying investment strategies end up lumped together. As shown in the table below, this has on this occasion resulted in a decent one-year sector average of 10.5 per cent growth.

Top/Bottom Five IMA Mixed Investment 40-85% Shares, One Year Performance

Top 5

CIS Sustainable World Trust

1,174

Barclays Dividend & Growth

1,151

Premier Multi Asset Inc & Growth

1,150

Margetts Greystone Balanced Managed

1,150

Lazard Managed Balanced

1,148

Bottom 5

JPM Balanced Total Return

1,014

Aberdeen Multi-Manager Divers Alpha

1,024

CF Ruffer European

1,040

Scottish Friendly Managed Growth

1,043

CF KB Endeavour Multi-Asset Balanced

1,045

Sector average

1,105

Based on £1,000 initial investment to 1 October 2012 on a cumulative basis

Performance varies hugely across the sector, but it has done rather well over the past year. The best performer, the CIS Sustainable World Trust, returned £1,174 on an initial £1,000 investment. Having only been in existence for three years, it is doing rather well and currently has 74.28 per cent equity exposure. The manager attributes its recent success to its position in a US home builder company benefiting from the US housing market recovery and its low exposure to the mining sector.

At the other end of the scale, but still making a positive return, is the JP Morgan Balanced Total Return fund. Returning 1.4 per cent, its stated objective is to achieve over a longer term horizon and it currently holds 79.7 per cent in stocks and 12.97 per cent in cash.

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