Five fund managers you should know about

Who is the greatest ever investor? Most of you will inevitably answer Warren Buffett, but there are several more that could be added to the debate. In the UK, for example, we’d highlight Harry Nimmo or Anthony Bolton in the running. But who are the star managers of the future? Or perhaps a better question is, who are the star managers of today who fly under most investors’ radar?

It’s important to remember that funds may fly under the radar for a number of reasons. They may be in an area that investors actively dislike. At the moment, that might include the UK, or smaller companies. Or these funds may be too small to command attention.

However, finding these funds – and managers – can be rewarding over the long term.

Five fund managers flying under the radar 

David Walton, IFSL Marlborough European Special Situations 

David has a distinguished career in European equities. A Cambridge University graduate with a first-class degree in economics, he began his investment journey at M&G before joining Baillie Gifford in 2000. There, he managed European small-cap portfolios, delivering strong outperformance. Since taking over the IFSL Marlborough European Special Situations fund in October 2013, David has generated an impressive 278.01% return for investors, more than doubling the sector’s growth of 143.48% over the same period*. That’s a compound annual return of more than 12%. An exceptional performance in a period which has been difficult for European equities and smaller companies in particular, which are the largest portion of David’s fund. 

David takes a multi-cap approach, investing across European companies of all sizes but with a strong emphasis on smaller, often-overlooked businesses. He employs a high-conviction, stock-picking strategy, seeking hidden opportunities with significant growth potential. He comes across as calm and unflappable. Perfect qualities in a good fund manager which allow him to focus on long-term fundamentals. David’s not the sort to jump on the table and tell you you have to buy his fund. He quietly gets on with the job but his long-term performance numbers do the talking for him. 

The past three years have been tough for the fund as its heavy overweight to smaller and micro companies has been a severe drag on returns. It’s been one of the toughest periods for smaller companies ever, relative to large-caps in Europe. Even so, David’s five-year returns are still excellent as he’s still the 7^th best fund in the sector over the past 5 years, despite this severe headwind**. Now could be an excellent time to look at the fund if you believe that smaller companies will bounce back. 

Alex Araujo, M&G Global Listed Infrastructure 

Alex has over 25 years of experience. After roles at UBS and BMO Financial Group, he joined M&G’s equity income team in 2015. Since launching the Global Listed Infrastructure fund in October 2017, Alex has delivered an impressive 64.49% return, outperforming the sector’s 29.92% over the same period*. A University of Toronto graduate, he has an MA in economics and is a CFA charterholder. Alex applies a disciplined, long-term approach to infrastructure investing.

Alex previously worked on the sell-side and supplied ideas to Stuart Rhodes, fund manager of the M&G Global Dividend fund. Alex’s performance was too good to ignore and so Stuart and M&G hired him in 2015. 

The fund takes a broad view of infrastructure, balancing growth and income across three key areas: economic (utilities, toll roads), social (healthcare, education), and evolving infrastructure (data centres, payment companies). With a concentrated portfolio of 40-50 holdings, it follows a buy-and-hold strategy, aiming for a 3-4% yield. Its diversified approach sets it apart from traditional infrastructure funds.

Sean Peche, Ranmore Global Equity 

Sean’s investment career began in South Africa in 1997 as an equity analyst at Old Mutual Asset Management, before co-founding Decillion Capital and co-managing the successful BigRock Fund. After moving to London in 2001 to manage a US/European hedge fund, he joined Orbis Investment Advisory in 2003. In 2008, he established Ranmore Fund Management Ltd., bringing his expertise in value investing to the forefront.

Ranmore Global Equity is a true global value fund, delivering an outstanding 702.63% return since inception, significantly outpacing the IA Global sector’s 362.72%*. Sean is a very rare commodity. A genuine value manager who has outperformed the global equity market over a prolonged period. To achieve that is miraculous, in a period which has been dominated by mega-cap US tech growth stocks. 

Sean’s practical view of combining the value approach with momentum and technical factors has proved highly effective. With a bias toward mid and smaller companies, it has excelled despite market headwinds. 

Sean has also turned down offers to run segregated mandates for institutional investors at a lower cost. His attitude that ‘everyone gets the same price’ shows a high degree of integrity. The fund is very stylistic and performance has historically differed greatly from the benchmark. The fund did exceptionally well when value came back into favour in 2022 and has had a brilliant start to 2025 as US tech stocks have struggled. For investors seeking value exposure, this hidden gem is a compelling choice.

Jonathan Golan, Man Dynamic Income

Jonathan has quickly built a reputation as one of the most exciting talents in bond fund management. With an MSc in Financial Economics from Oxford University and a BA in Economics from The Hebrew University, he began his career at Schroders in 2013, managing the Schroder Sterling Corporate Bond fund before moving to Man GLG in 2021. Over the past decade, he has consistently delivered strong performance across corporate and global bond strategies.

The Man Dynamic Income fund has delivered an outstanding 74.25% return compared with just 9.31% for the IA Sterling Strategic Bond sector over his tenure*. This follows on from similarly strong performance at Schroders. Jonathan takes a flexible approach, allowing him to invest across high yield, emerging markets, and government bonds while avoiding low-yielding, higher-quality debt he views as riskier. 

Frankly his performance has been simply staggering. It is practically unheard of for a bond fund manager to outperform by so much and he has left many of his rivals in the dust. Importantly, Jonathan has managed this in different types of market and his performance cannot just be attributed to a couple of risky bets. He combines outstanding credit analysis with a willingness to put money to work when opportunity presents. The consistency of his performance, month in month out, is particularly impressive. In a world where star managers are supposed to be a dying breed, Jonathan is seriously testing that thesis. 

As he inevitably runs more money, it may be hard for Jonathan to sustain the same performance. That said, he is still 4^th out of 89 in the strategic bond sector year to date***. A manager who simply can’t be ignored. 

Nick Martin, Polar Capital Global Insurance

We believe Nick is one of the most knowledgeable and experienced investors in the insurance sector. Having worked on the fund since 2001 — first under Hiscox plc before its transition to Polar Capital in 2010 — he has developed deep expertise in risk and casualty insurance. His background in audit and consultancy for insurance firms while at Mazars Neville Russell further reinforces his industry insight.

Nick and co-manager Dominic Evans really think of themselves as insurance guys rather than fund managers and that approach has worked extremely well over the long term. They simply back the good insurance businesses and ignore the bad ones doing stupid things. Nick has delivered fantastic performance for almost 25 years now and few others can claim that. 

This specialist fund provides targeted exposure to non-life insurance companies, a sector often overlooked despite its resilience across economic cycles. Insurance remains essential in all environments, giving the fund strong defensive characteristics. Since Nick has been on the fund it has delivered an impressive 927.29% return, significantly outperforming the IA Financials and Financial Innovation sector’s 548.09%*. Its strong track record makes it a compelling diversifier for long-term investors.

*Source: FE Analytics, total returns in pounds sterling, manager start date to 21 March 2025

**Source: FE Analytics, total returns in pounds sterling, five-year performance to 25 March 2025

***Source: FE Analytics, total returns in pounds sterling, 31 December 2024 to 24 March 2025