Old Mutual Global Equity Absolute Return
Launched in July 2009, this absolute return offering is managed by Ian Heslop, Amadeo Alentorn and Mike Servent, who are supported by three analysts – Yuangao Liu, Lawrence Clark, Matus Mrazik – as well as investment director Justin Wells.
One of the larger absolute return funds in terms of assets, it also has a well-diversified portfolio with approximately 777 holdings, of which roughly 376 are long positions, with the remainder acting as shorts.
The team takes a more quantitative approach, as its objective is to create capital appreciation while closely controlling risk, using a market neutral portfolio of global equity stocks.
To build the portfolio, the managers, led by Mr Heslop, assess companies against criteria, including stock price valuation, balance sheet quality, growth characteristics, efficient use of capital, analyst sentiment and supportive market trends.
This is designed to create a portfolio of stocks expected to outperform in the current macroeconomic environment.
What the judges say
This fund takes an innovative approach that has delivered the goods in recent years.
Club members
FP Argonaut Absolute Return
Henderson UK Absolute Return
RWC US Absolute Alpha
Threadneedle UK Absolute Alpha
In numbers
£1.06bn
Total assets
31.46%
Five-year actual return
1.76%
Ongoing charge
