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.

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
4/67 in Mixed Assets - Flexible (Performance over 3 years) Average Total Return: 49.10%
Alexander Darwall
Alexander Darwall
22/75 in Equity - Europe Excluding UK (Performance over 3 years) Average Total Return: 59.03%
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: 'new normal' now is as dangerous as when it was applied to tech

Profile: 'new normal' now is as dangerous as when it was applied to tech

7IM's CIO Chris Darbyshire says he has been re-energised by his new role, but has little time for 'new normal' doom-mongers

Wealth Manager on Twitter