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View the article online at http://citywire.co.uk/wealth-manager/article/a728049

Performance review: why Charles Stanley backs the S&P 500

by Elsa Buchanan on Jan 22, 2014 at 12:01

He sold out of gold in April last year and switched the money into the Standard Life Investments Global Absolute Return Strategies and BNY Mellon Global Absolute Return funds.

‘Cash plus 5 to 7% is what we look for in an absolute return fund,’ he said.

Performance

Over 12 months, the portfolio has returned 22.3%, outperforming its Apcims Balanced Total Return benchmark, which rose 14.1% over the same period.

Since inception in November 2011, the model is up 46.3%, against the benchmark’s 25.9% rise. Key drivers of performance include holdings in Berkeley Group, Shire and Findlay Park’s fund.

However, Sweeting acknowledges having bought into HSBC ‘a bit too early’, which has been a drag on performance, as has a holding in Imperial Tobacco.

‘Our biggest detractors were Asia and the emerging markets,’ he said, pointing to the Schroder Asian Total Return fund run by Citywire AA-rated duo Robin Parbrook and Lee King Fuei, and the JPM Global Emerging Markets fund.

He continues to favour the US, where he believes a rotation out of money markets into equities could support the rally.

‘The amount of money in the US money markets has gone up,’ he said.

‘The rotation didn’t happen in 2013 because people were just putting cash – not money – into markets, but it may well hit the equity markets. I believe there will be a rotation toward equities in 2014.’

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