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About Leonard Charlton
Leonard Charlton joined Dalton Strategic Partnership in 2006 where he has run the Melchior Selected Trust European Absolute Return Fund since February 2010. His strategy on the fund involves a combination of fundamental stock selection with an active trading overlay in both the long and the short portfolio. Leonard runs institutional mandates and invests in his own strategies. He is based in London and studied management science at the University of Manchester Institute of Science and Technology (UMIST).Are you Leonard Charlton?
Equities Investment Style
- The Melchior European Absolute Return Strategy, which is employed by this Fund, involves a combination of fundamental stock selection with an active trading overlay in both the long and the short portfolio. Alpha generation is the focus of the strategy. It sources alpha from a variety of market exposures and does not concentrate risk in any one country, sector or market capitalisation bias. The majority of alpha has been generated from the short portfolio since inception. We believe our investment objectives are obtainable without the use of leverage. Expectations for the gross exposure of this Fund are in the range of 80% to 150%. The maximum gross exposure is limited to 200%. However, we do not anticipate ever reaching this level. Average gross exposure of the Fund has been 88% since inception of the Strategy. Net exposure management is actively employed to benefit from changes in the direction of European equity markets, however we tend not to take large directional bets and will therefore make sure that the net exposure remains within +/-20% (beta adjusted) limits that we have set. The strategy invests in highly liquid CFDs, ETFs, futures, options and swaps to obtain market exposures. It has a low correlation with equity markets and other long/short European Equity Funds.
- UNIVERSITY OF MANCHESTER INSTITUTE OF SCIENCE AND TECHNOLOGY (UMIST), Manchester
- Management Science
- CFA levels 1 completed (2007) B.Sc. (Honours) in Management A-Levels in Sociology, Economics and Geography combined with 8 GCSEs
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