Multi-manager T Bailey has significantly upped its weighting to technology and healthcare as it seeks out companies it believes are poised for growth.
Elliot Farley and Peter Askew, who run the group’s Growth fund, have taken their exposure in what they call “thematic investments” to 21 per cent.
This makes it the largest portion of the portfolio, ahead of any individual country or regional weighting, overtaking the 19 per cent allocated to the US.
Since its launch 15 years ago, the T Bailey Growth fund has focused on the growth prospects of individual nations or regions.
But the managers now think there is more growth potential to be found in specific investment areas and are seeking funds that can tap into those sectors, such as the Polar Capital Healthcare Opportunities fund.
“More recently our investment process has evolved to identify emerging global themes with strong growth potential,” Mr Farley said.
“Technology is an obvious example and another is healthcare, where the sector stands to reap the benefits of increasing demand for a wide range of services from ageing populations around the globe.”
Since the fund’s launch it has delivered a return of 103.9 per cent, outperforming the average return of its peer group of global equity funds.
But it has struggled to outperform its peers in recent years and has delivered third-quartile performance in the past one, three, five and 10 years, according to FE Analytics.
