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 Biotech Growth: we will ride out this storm

Biotech Growth: we will ride out this storm

Geoffrey Hsu of Biotech Growth Trust says the sell-off in biotechnology stocks represents a buying opportunity for long-term investors.

Play Sector Spotlight: Kleinwort Benson's Choukeir on UK equities

Sector Spotlight: Kleinwort Benson's Choukeir on UK equities

In our first Sector Spotlight of the year we explore UK equities on the back of the extreme market turbulence in 2016.

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.

Your Business: Cover Star Club

Profile: PortfolioMetrix is on a mission to kill 'Frankenstein' systems

Profile: PortfolioMetrix is on a mission to kill 'Frankenstein' systems

In a buyers’ market for off-the-peg discretionary management, self-funded start-ups begin at an inherent disadvantage

Wealth Manager on Twitter