Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Urquhart: myopic market has misunderstood 'disruptive' Facebook

Urquhart: myopic market has misunderstood 'disruptive' Facebook

Mark Urquhart shrugged off the pessimism surrounding social networking site Facebook to snap up a stake for his Edinburgh Worldwide trust.

The Citywire Selection manager said that after its blockbuster flotation sentiment around Facebook quickly cooled, creating a lucrative opportunity to buy in.

'The shares fell dramatically after the IPO but we believe a myopic market is fundamentally misunderstanding the company's disruptive power and its opportunity to grow revenues significantly,' Urquhart (pictured) said, pointing to fears over Facebook's ability to monetise its mobile presence, prompting the stock's crash.

Speaking to Edinburgh Worldwide shareholders, Urquhart also said he had also bought into Stratasys, the leading player in the nascent industry of 3D printing.

'This technology is falling rapidly in price and allows a large degree of customisation which we think has radical applications in industries as diverse as healthcare and construction,' the manager explained.

The two purchases capped a year in which Edinburgh Worldwide increased its net asset value (NAV) per share by 4.8%, and its share price by 6.3%, looking at the 12 months ended 31 October.

This compares to the fund's benchmark, the MSCI All Countries World Index (in sterling terms), which climbed by 6.2% over the same stretch.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: The adviser that tempted Robin Minter-Kemp on board

Profile: The adviser that tempted Robin Minter-Kemp on board

It is rare to meet an impassioned individual who is willing to bang the drum for investment advisory right now

Wealth Manager on Twitter