Citywire Selection Verdict: Steve Cordell took on the fund in June 2011 and has steered it with a steady hand. Cordell rotates long and short positions when he identifies different stages in the business cycle. In his time at the helm returns have been generated with a third of the volatility of the FTSE All Share index.
The fund has offered protection when markets have fallen and also participated on the upside. The ability to capture some upside has proved more difficult recently as markets have quickly moved in different directions.
With the oil price falling Cordell is backing companies that should benefit from increased disposable incomes and positive real wage inflation in 2015.
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