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Somel: I am not turning Global Basics into a generic equity fund

by Robert St George on May 23, 2014 at 15:52

‘If I could find another 10 Microsofts that fit this portfolio, I would buy them all. But at the moment that is the only technology company in the portfolio and I really do believe in its growth potential going forwards.’

The performance of Global Basics has also perked up lately, returning 2.7% over the three months to the end of April compared with an average of 2.3% from its IMA Global Equity sector. It still languishes on a three-year view, however, having lost 8.9% while the peer group gained 20.8%.

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1 comment so far. Why not have your say?

Ian Mckeever

May 28, 2014 at 16:19

I was impressed when I saw Randeep Somel talk about his fund. If you want a fund manager with original ideas who is prepared to back his conviction, he is your man. A great high conviction fund to pair with a tracker.

However a Global Basics fund sounds like something you have as a tracker replacement. I sort of expect Unilever Wal-mart and a few utilities in a Global Basics fund. Alternatively a Global basics fund might have a commodity focus.

This fund basicaly needs to be renamed and Randeep needs to make a very clear statement of his underlying philosophy so that advisors can explain it to their clients.

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