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Ardevora UK Income A

Ranked 57 out of 106 in - UK Equity Income over 12 months
All calculations are in GBP

Managed by

Jeremy Lang

Like a doctor who has a disease named after him, Jeremy Lang has an eponymous investment strategy, the Lang Approach, which he dreamed up during a four-year round-the-world sailing tour. In a nutshell, Lang sorts his investment candidates by looking at the analysts who follow them - not because they have an inside edge that demands respect but quite the opposite; because they are often, and predictably, wrong. Lang's studies show that companies where analysts consistently underestimate earnings perform relatively well whereas those where the analysts get their numbers too high generally perform badly. Lang graduated in Econometrics from York University and has more than 20 years' experience as a fund manager. He spent over 13 year at Liontrust before setting up Ardevora Asset Management alongside William Pattisson.

William Pattisson

William Pattisson does not like too much face-to-face contact with the companies in which he invests. 'I've no interest in slick investor relations people telling us what they want us to hear,' he says. One bias he wants to avoid is feeling guilty about selling a stock if he liked the people he met. Pattisson built a strong reputation running the Liontrust First Large Cap fund and the Liontrust Winners Investment Trust. He then left the company to set up Ardevora alongside Jeremy Lang. 'Running winners and avoiding losers' is his investment philosophy in a nutshell. Born in June 1963, Pattisson graduated in Economics from Christchurch College, Oxford and has been a fund manager for more than 20 years. He established his reputation at Flemings, where he successfully managed the £410 million Fleming Claverhouse investment trust, before he joined Liontrust.

Objective

The Ardevora UK Income Fund's investment objective is to achieve long-term capital appreciation and income. The Ardevora UK Income Fund will primarily invest in and gain exposure to, a diversified portfolio of UK equity or equity-related securities (such as ordinary and preference shares, global depository receipts and American depository receipts) listed or traded on Regulated Markets.

Performance

UK Equity Income over : 31/07/2013 - 31/07/2014

Total Return

Quarterly Performance

to 31/07/2014 Annual Q1 Q2 Q3 Q4
2014 -0.9% 3.2% -2.5% -1.6%
2013 32.9% 15.5% -0.1% 4.1% 10.6%
2012 23.4% 11.4% -4.6% 8.1% 7.4%
2011 -1.8% 1.1% 5.3% -14.1% 7.4%

Month by Month Performance

Returns Vs Risk

Asset Allocation

Breakdown

30/06/2013

Top 10 Holdings

Stock Size
Dunelm Group PLC ORD 5.30
Inmarsat PLC ORD 5.00
Micro Focus International PLC ORD 4.88
William Hill PLC ORD 4.74
Reed Elsevier PLC ORD 4.72
Ladbrokes PLC ORD 4.58
Persimmon PLC ORD 4.55
Reckitt Benckiser Group PLC ORD 4.53
Royal Dutch Shell PLC ORD 4.49
Moneysupermarket.Com Group PLC ORD 4.42
30/06/2013

Registered For Sale In

  1. Ireland
  2. United Kingdom

Fund Info

  • Launch date12/01/2011
  • Share Class size03Mn
  • Base currencyGBP
  • ISIN IE00B3TGCG95

Purchase Info

  • Min. initial investment5,000
  • Min. additional investment5,000

Charges

  • Annual management1.5%
  • Initial investment0

Related News

Jeremy Lang: The 'goldilocks' housebuilder recovery has legs

Ardevora UK Income manager Jeremy Lang believes housebuilders have even further to go, as concerns about the fallout from rising house prices prove overdone.

Jeremy Lang's top stock picks for anxious times

Ardevora's Citywire AA-rated manager is finding opportunities in areas that are causing some investors to feel anxious.  

The stocks catching analysts out

Citywire AA-rated Ardevora UK Income manager William Pattisson has been buying BG Group and Tullow Oil, arguing both stocks have been overly punished by the market due to negative sentiment towards oil.

The two big value traps Jeremy Lang fears

Ardevora fund manager Jeremy Lang talk value traps and explain why they sold out of miners in favour of housebuilders and construction stocks.

Eden Financial’s Harris on the benefits of agriculture and gold ETFs

Mark Harris, manager of the CF Eden Global Multi-Strategy fund, discusses the exchange traded funds (ETFs) he uses to complement his top active fund picks

Lang & Pattison: Europe could be the next Japan

Ardevora founders Jeremy Lang and William Pattisson believe Europe could be facing a Japan-style economic scenario.

Pattisson and Lang’s Ardevora hits £100m

Ardevora Asset Management, the firm founded by ex-Liontrust duo William Pattisson and Jeremy Lang, has broken through £100 million in assets under management.

What scares Jeremy Lang more than the euro crisis

The Ardevora UK Equity Income manager fears a Chinese slowdown, while David Jane and and John Bennett are fretting about US government bond rout.

Performance is for the period shown (month end to month end, bid/bid, gross income reinvested, calculated in GBP).