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5 defensive funds for a lengthy eurozone crisis
23 July: After the second Greek election we said we were not out of trouble. With markets reeling today at the prospect of a bailout of Spain we repeat our choice of five funds from Citywire Selection we think should keep you safely invested.
Jupiter Absolute Return
Philip Gibbs (pictured) made his name running the Jupiter Financial Opportunities fund, for which he earned the record for holding a Citywire fund manager performance rating for the longest unbroken period (seven years). Gibbs has focused on the Jupiter Absolute Return Fund since its launch in December 2009. It aims to generate an absolute return, irrespective of market conditions, by investing in equities, bonds, currencies and derivatives across the world. Although it got off to a poor start Gibbs’ long-term bearish views were rewarded during the second half of 2011. The £713 million fund’s diversification shows Gibbs is a manager that should not be ignored. From launch to the end of April it gained 2%. In the past 12 months it is up 6.2%. MG.
CF Miton Special Situations
Martin Gray (pictured) and James Sullivan are in the curious position of being ‘aggressively defensive’ with their CF Miton Special Situations fund. The defensive side is covered off by maintaining a large allocation to managed cash positions with a high exposure to Asian currencies, with the remainder of the portfolio held in a mixe of other funds, exchange traded funds, bonds and equities. This has paid off over the last five years and despite a weighting to gilts, the pair are wary of the downside risks of government bonds which appreciated nearly 20% in 2011. They currently have small allocations to UK, Japanese and Asian equities however and are looking for markets to fall to lower valuations before bumping up their investment in risk assets. MG.
More about this:
Look up the funds
- Trojan O Inc
- Newton Real Return GBP Inc
- Jupiter Absolute Return Acc
- CF Miton Special Situations Portfolio Ret A Acc
- Jupiter Financial Opportunities
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