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Apollo Fofs outperform

Apollo Multi-Asset Management’s cautious and balanced funds of funds have outperformed their respective benchmarks at their third anniversary despite a difficult 2011.

The cautious fund beat its cash plus 3 per cent benchmark over three-years as at November 26, 2011, returning 18.97 per cent compared with the 11.25 per cent return from its benchmark. Over the same period, the balanced fund returned 24.2 per cent compared with a 17.85 per cent return from its cash plus 5 per cent benchmark.

The funds’ structured product holdings were hit hard last year because a spike in volatility had a negative impact on pricing. The investment trust sell-off also hurt the Apollo funds as share prices fell more sharply than the underlying asset values, creating high discounts. The multi-manager says it now holds both investment types on attractive terms, which should be beneficial over the long-term in rising or neutral markets.

Apollo also suffered last year from a lack of exposure to gilts, which performed well during the market collapse in the summer. But with the yield on 10-year gilts at around 2 per cent, Apollo is reluctant to hold an asset class that would lose investors money in real terms due to the effect of inflation.

Apollo fund manager Tom McGrath says: “We probably should have had a bit less in investment trusts and structured products in 2011. But we are ahead of the targets we set ourselves and are happy with the positioning of the funds.”


Ashcourt Rowan recruits former Skandia director Jim Roberts

Ashcourt Rowan has appointed Skandia Investment Management founder Jim Roberts as a non-executive on its board. Roberts worked at Skandia Group for 26 years, where he held a number of senior positions including appointed actuary, finance director and group investment director.  He also set up Skandia Investment Management in 2003 which he chaired from its […]

Bright side

The team and myself are delighted to reveal that our collective resolution is to focus as much on the positives as the negatives in financial markets and the economy in 2012. With a positive mindset, we are asking whether the market moves higher can last? Possibly, rather than probably, would be our view. The starting […]

Aldermore ups B2L LTV to 80%

Aldermore is today increasing its maximum LTV for buy-to-let products from 75 per cent to 80 per cent. The lender is also raising its maximum buy-to-let portfolio size from three properties and a lending ceiling of £1m to five properties and a ceiling of £2m, as well as reducing its buy-to-let reversion rates by as […]


2012: Investment market hinges on eurozone solution

With politicians still trying to get to grips with the euro crisis and low UK growth predictions, investors could be in for another bumpy ride in 2012. Last year, the FTSE 100 saw a high of 6,091 and a low of 4,944. With such volatility, safe havens like gilts and gold have thrived. Fund managers […]

Artemis Global Income: favouring Europe over the US

With a 10 per cent return from his Global Income Fund in the first three months of 2015, Jacob de Tusch-Lec talks to journalist Alexis Xydias about the drivers and why he favours Europe and Asia over the US. Jacob believes European companies remain cheap and is still finding opportunities amid value stocks – in contrast […]


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