Fund Focus: The Citywire verdict on who's hot and who's not

Stuart Richards and Marina Akopian, Ignis Intl HEXAM Emerging Europe

Citywire A-rated duo Stuart Richards and Marina Akopian have had a storming 2009, returning 107.3% against the benchmark’s 67.5% and ranking among the high flyers in the sector. Richards says that the rallying dollar hit returns last month and volatility is also ticking up, although momentum is a positive. Portfolio-wise, he has reduced his exposure to Romania and added to weightings in Poland and Turkey, the latter a fillip in particular – up 10% on the week. The rise in uncertainty is focusing the team on buying into companies with visible earnings streams and on reasonable valuations.

Citywire verdict

While the fund is something of a white-knuckle ride, Hexam is a quality outfit. Performance numbers since launch are top quartile, marking it out as a serious player.

Richard Sneller and Will Sutcliffe Baillie Gifford Emerging Markets Growth

Baillie Gifford Emerging Markets Growth managers Richard Sneller and Will Sutcliffe have kept ahead of the pack during both the downturn and the risk rally. The pair are positive about the outlook for the asset class, saying the picture is ‘rosy’, with consumer spending holding up well and a merger and acquisition boom set to drive markets onwards. Geographically, the fund is biased toward China, Brazil and Korea, with commodities behemoth Petrobras its largest holding.

Citywire verdict

In a sector dominated by Aberdeen and First State, Baillie Gifford is also flying the flag for the Scots and, as an alternative to the pair, there are few better in the market.

Crispin Odey, CF Odey Opus