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The Buffett-inspired fund thriving in Brexit Britain

Citywire Ratings take a look at the top performers in four key sectors over the intervening period since the UK vote.

Great Brex-pectations

The United Kingdom voted on June 23 2016 to leave the European Union. Over two years on – and one week from the pre-arranged deadline of 29 March – the UK’s actual departure remains mired in certainty.

However, the world of fund management has not sat still as the UK government has found multiple roadblocks.

Here we showcase the top-performing managers across four key sectors since the date of the 2016 vote.

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Great Brex-pectations

The United Kingdom voted on June 23 2016 to leave the European Union. Over two years on – and one week from the pre-arranged deadline of 29 March – the UK’s actual departure remains mired in certainty.

However, the world of fund management has not sat still as the UK government has found multiple roadblocks.

Here we showcase the top-performing managers across four key sectors since the date of the 2016 vote.

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UK equities

For UK equities, Keith Ashworth-Lord comes out on top with his CFP SDL Buffettology General fund since referendum day in June 2016.

A strong period for the sector overall, Ashworth-Lord outperformed its rivals by 27%, returning 45% compared to a peer group average of 18%. 

Impressively, the fund inspired by the legendary Warren Buffett's investment philosophy, lost a nominal 0.14% during the volatility of 2018 versus an average loss of 11% in its sector. 

Ashworth-Lord is closely followed by Gerard Callahan, the manager in charge of the Baillie Gifford UK Equity Alpha fund, who generated a performance of 41.8%, outperforming the average manager by 23.9%.

While the aforementioned funds both experienced net inflows of £539 million and £175 million, respectively, it is hard to ignore the flows into

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European equities

Citywire AA-rated Carlo Seregni, who runs the Arnica European Opportunity fund, has performed very well in the Equities – Europe sector since the UK’s decision to leave the European Union, having outperformed the average manager by 40%.

The fund’s assets increased by €14 million (52%) during the period, with outflows estimated at €2 million.

The second and third placed managers during this period are Eva Fornadi (Comgest Growth Europe Opps) and Nik Dvornak (Platinum European).

It is interesting to note that compared to the high-performing fund mentioned above, the last two funds experienced net inflows of €117 million and €270 million, respectively.

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Bonds - Euro

John Gikas and Aris Papageorgakopoulos, both managers since inception of the Interamerican Fixed Income Domestic Bond fund, have performed remarkably well since the Brexit vote in June 2016.

Despite the fund underperforming in the first five months relative to the average manager, there was a large recovery at the beginning of 2017 and over the whole period they returned a solid 46%, against the average manager’s 2% gain. The assets under management for the fund experienced a 4% gain, from €119 million to €123 million.

However, broad-based pessimism in fixed income markets at the time was signalled by net negative fund flows over the period of €56 million.

It is also worth mentioning Esther Álvarez and Nicholas Markakis, the managers of Mutuafondo Bonos Subordinados and Delos Greek Growth – Domestic Bond funds, respectively. Their returned 19% and 18% since June 2016.

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Bonds - Sterling

The winning duo here are Iain Stealey and Linda Raggi, co-managers of the JPM Sterling Bond fund. It was launched in 1992 and returned 13% against the average manager’s 9% since the vote. Ian Fishwick, who runs three Fidelity funds (Fidelity Pre-Retirement Bond, Fidelity Sterling Core Plus Bond and Fidelity Sterling Core Plus Reduced Dur Bd) and Paul Grainger, in charge of the Schroder Sterling Broad Market Bond, followed them closely with performances of 12% and 11%, respectively

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