Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Why Walls believes he can get Darwall's Europe trust on the cheap

Peter Walls, manager of the Unicorn Master Trust, has sold out of the top performing European fund believing that another wobble in the Continent will allow him to revisit the holding.

Fund of investment trust manager Walls has delivered 34% cumulative performance over three years versus an 18.4% sector average.  Having bought intoAlexander Darwall's Jupiter European Opportunities some 18 months ago, Walls decided to take profits owing to its strong run and 360.3p shares moving to a 1% premium.

'[The fund] has served me well over the time and I have no doubt Alexander Darwall will continue to add value relative to his peers.  I am not suggesting that its rating is in doubt, but I think another downturn in Europe will allow me to revisit it,' Walls explained.

Like Walls' closed-end fund, Darwall's £278 million investment trust has also outperformed.  Over three years it has grown its share price 98.9% and its ordinary share net asset value (NAV)  by 70.1%.  Over the same stretch the vehicle's benchmark, the MSCI AC Europe Index, has risen by 10.5%.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Peter Walls
Peter Walls
6/60 in Mixed Assets - Flexible GBP (Performance over 3 years) Average Total Return: 41.18%
Alexander Darwall
Alexander Darwall
2/84 in Equity - Europe Excluding UK (Performance over 3 years) Average Total Return: 60.12%
Citywire TV
Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

This week Brewin Dolphin's head of research talks to Mike Riddell, fund manager at Allianz Global Investors, about the forces driving bonds markets in a tumultuous week for markets.

Play Henderson's Hermon: how to be defensive in smaller caps

Henderson's Hermon: how to be defensive in smaller caps

Hermon, who manages the Henderson Smaller Companies trust, talks about he will tackle a 'challenging' 2016.

Your Business: Cover Star Club

Profile: 'what we are doing at Mosaic is Darwinian'

Profile: 'what we are doing at Mosaic is Darwinian'

The changes in financial services over the last few years may leave some destitute warns Marco Sambucci of Mosaic Money Management

Wealth Manager on Twitter