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Julian Gibbs

One of the best investment boutiques, JO Hambro Capital Management, set up by James Hambro and Nichola Pease, has attracted some of the best fund managers in the UK.

Mark Costar, who previously managed around £2bn of assets at Clerical Medical, is now managing the JOHCM UK growth fund. At Clerical Medical, he also ran the UK growth fund which, under his management, achieved top-decile performance with low volatility and outperformance of its benchmark in every calendar year.

He is one of the best stockpickers in the UK but takes less risk than many other stockpicking managers. He combines his stockpicking talents with a strong selling discipline.

Max King, who manages the UK recovery fund, has also won five Micropal awards and was partly responsible for building up Finsbury Asset Management.

I believe that, over the next year or so, the UK market will outperform Europe so, at the present time, I prefer these two funds to those investing in European equities.

Costar maintains contact with a large variety of different companies and aims to have between seven and 10 meetings each week. He prefers management with strong and persistent track records, especially those who align their interests with those of shareholders. He also likes companies with strong cashfows.

King believes the present is a highly attractive time for investing in recovery stocks for the longer term. The severe and long bear market has driven the valuations of the so-called problem companies down to extremely low levels. He believes these companies will significantly outperform in a market recovery.

JO Hambro is to be congratulated for acquiring such excellent fund managers. IFAs should certainly include these JO Hambro funds in their recommendations.


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