Revealed: Multi-managers' favourite funds of 2011

Multi-managers reveal the funds that helped them navigate their portfolios through a difficult 2011.

Rob Burdett

Co-head of multi-manager at Thames River

A disciplined, research-driven approach from a successful boutique where manager Dale Robertson’s expertise are backed up by an ultra-high quality team of analysts that include a number of ex-CIOs, makes the Edinburgh European Opportunities fund one of my three favourites for 2011.

The team made significant changes to its portfolio in early 2009 which produced great results, and has just made a further series of changes amidst the volatility of Q3. This should, hopefully, leave the portfolio refreshed and full of latent potential which should bode well for future returns. In our opinion, this team will navigate the inevitable further European machinations of next year very well through its valuation disciplines.

The common sense value style of the Findlay Park American Smaller Companies fund makes it a long-term winner for me. It boasts one of the world’s pre-eminent fund management teams operating in the world’s most flexible economy in an election year. Having personally invested with James Findlay for clients since 1992, we helped seed this fund’s launch over a decade ago.

Since then the fund has become a ‘must-have’ for multi-managers and a serial out- performer. James and his co-founder Charlie Park have regularly boosted their team over the years and most days will see one of them team visiting one of their company holdings in some remote part of the US.

Meanwhile, the Rathbone Global Opportunities fund manager, James Thomson, has a fabulous long-term record, albeit with a few lumps and bumps that have been worth negotiating with him. He made some small but significant adjustments to his style following lessons learnt in 2008, which has seen him perform very well in both good and bad months for markets subsequently.

Thomson is a relatively young, yet very clear thinking manager who is close to the finished article. Allied to the free-roaming global brief he has with this fund makes for a compelling story for 2012 and beyond.

Ryan Hughes

Portfolio manager for Skandia Investment Group

Sometimes when you meet a manager and discuss their investment approach, everything is instantly clear and you realise you share an investment philosophy. The contrarian approach taken by Alastair Mundy and his team did exactly that to me and, while 2011 may not have been the finest year for UK equity managers, I believe the small outperformance of his Investec UK Special Situations fund will be the springboard for even better things to come.