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Investec UK Alpha

Elite Rated by FundCalibre

This is a well-diversified Core UK Equity fund. Simon and his team aim to buy quality companies which consistently create value for shareholders. The fund retains the same philosophy and process as his previous fund, which he ran so successfully at Threadneedle.

Company Description

Investec Asset Management was established in 1991 and is jointly owned by Investec (85%), a South African financial services conglomerate, and a consortium of 40 senior employees (15%).

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Fund Manager

Having attended Durham University, Simon spent time working with Schroders and Threadneedle before joining Investec. His fund management experience spans over 14 years and he has a strong and consistent track record. When he joined Investec, Simon was joined by many of his old team.

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I firmly believe that UK equities should have a prominent place in any portfolio seeking to achieve strong, long-term risk adjusted returns

Simon Brazier - Fund Manager

The Investment Process

The team believe that markets are excessively focused on short term factors- that most analysts are typically focused on the next set of results and not where a company will be in five years’ time. This creates opportunities and allows this fund to take advantage of quality companies which will deliver for many years into the future. They only look to buy companies which are adding value for shareholders by allocating capital efficiently. Consequently, investing in proven management teams is very important. Cash flow generation is also key and businesses are typically valued based on the amount of cash they produce after all maintenance, tax, interest, pension deficits and working capital is accounted for.

Risk

This a well-diversified fund which must have at least 50% of its holdings in the FTSE 100. The fund typically has between 50 and 90 holdings. Simon doesn’t believe in betting heavily on one or two stocks or sectors. No stock has a weight of greater than 5% and the fund will not be +/- more than 8% for any sector versus the FTSE All Share.

Our Opinion

This fund has a solid and sensible investment process focused on cash flow and capital allocation. Simon is a hardworking and passionate fund manager with a consistent track record and a strong team behind him.

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