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F&C multi-managers add Jeremy Lang’s Ardevora UK Income fund

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Gary Potter

F&C Investments multi-managers Gary Potter and Rob Burdett have added Jeremy Lang’s Ardevora UK Income fund to the £710m F&C MM Navigator Distribution fund. 

The £57.3m Ardevora UK Income fund is run by Lang and William Pattison.

The F&C fund previously held Lang’s Liontrust Income fund in the first half of 2000 but sold it before Lang left Liontrust in 2009 and founded Ardevora in January 2010.

Potter says: “We have added Lang’s Ardevora UK Income fund because it is one of the heir apparents in the income sector. It was not a question of if, but when we came back to the fund.

“We are significant holders of the fund and have made that commitment in the first quarter. It is a useful addition to the income portfolio of the distribution fund. It is actually one of the best income funds year-to-date.”

Hargreaves Lansdown investment analyst Richard Troue says Lang and Pattison are managing the fund using a behavioural finance strategy.

Troue says: “It is a unique thing they are trying to do, by looking for ways the market can be wrong.”

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