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The secret Alt Ucits weapons driving this sector leading AA-rated duo
by David Campbell on Dec 09, 2013 at 14:10
‘We are not great fans of the long/short equity sector in the Ucits III world. There is a tendency for strong long-only managers to put in a few shorts and call it an absolute return fund.
‘But James Hanbury is doing a lot more than shorting Glaxo or just taking out index protection, he is actually finding genuine opportunities in non-core equity holdings.
‘[It’s a sector] where a lot of managers are just picking up beta but he is very strong on stock selection, which accounts for between 60-80% of its return.
‘We hold just over 9% of assets in the fund, versus our absolute maximum exposure to any one single fund restraint of 10% of assets.’
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