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Jupiter's Clunie: I think we can hold our own
by Sarah Miloudi on Sep 05, 2013 at 07:43
Although he could not name names, the manager said that some of his recent shorts had been in the European and US - two markets investors have flocked to on the back of steadier recoveries.
Clunie added that his macro views would not be a lead driver of his calls and warned that too many investors were believed it was central bankers or politicians that were in control and it could lead to some shocks.
'I find nothing more interesting that a really bearish macro note - it's entertaining but not very useful for investing,' he said.
It was Gibbs' more cautious views that dragged down his Absolute Return fund's performance over his last three years at its helm. He posted a 0.96% return over the three years to July versus 2.36% by three-month Libor, although looking at his career more broadly Gibbs has been one of the UK's most consistent fund managers.
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