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JO Hambro sets up US fund for Roe-Ely

JO Hambro Capital Management is setting up an American growth fund to be run by former Tilney fund manager Nick Roe-Ely.

The fund launches on October 31 and will have a concentrated portfolio of 30-50 stocks and will be capped at 500m to give Roe-Ely the flexibility needed for his high-conviction, growth-orientated investment style.

The fund will focus mainly on US mid caps but can include Canadian stocks and smaller companies. Roe-Ely will look for companies with a market cap of $1bn-$10bn and will aim to identify stocks that are likely to grow earnings at a faster rate than the S&P 500 index over the next three to five years.

Roe-Ely joined JOCHM this month from Tilney Investment Management, where he ran the Tilney American growth fund since its launch in 1996.

JOHCM says its new fund’s limited size, mid-cap focus and performance fee structure differentiates it from other US funds available to UK investors. The company also believes the fact that the fund will be managed in the UK will be beneficial as the manager is able to get some critical distance on the US market and will be more accessible to UK investors.

Roe-Ely says: “Medium-sized US companies are better able to drive business forward. They are less burdened by pension and healthcare costs and are less researched than large caps. They are also more mature, less volatile and have greater liquidity than small caps.”


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