Best In Class  

Best in Class: Waverton European Capital Growth

In addition to strong performance in buoyant periods, the fund has also been resilient in troubled times.

For example, during the height of the European sovereign debt crisis in 2010 to 2012, the Waverton fund had a total return of 0.93 per cent, compared to an average fall of 12.93 per cent for Europe ex-UK sector funds, according to FE Analytics data from January 1 2010 to July 26 2012 based against the FO Equity Europe ex-UK total return index.

Another element of their fund I like comes courtesy of the structure of Waverton Investment Management, where 37.5 per cent of the business is owned by its employees.

Manager interests are further aligned with investors as they are also invested in their own strategies, while all funds are capacity constrained to ensure they do not become too large.

The performance of this fund, coupled with the experience of the managers, makes it a strong candidate for being a core European holding for investors.

Darius McDermott is managing director of FundCalibre