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Midas touch

Simon Edwards, who earned an excellent reputation as chief investment manager of the Merseyside pension fund and before that as a director of Credit Suisse, founded Midas Capital just over five years ago and has built up funds under management of more than £1bn.

The lead fund, which he manages himself, is CF Midas balanced growth, the second top performer in its sector over five years. The fund is up by more than 96 per cent over five years to June 1 against the sector average of 61 per cent. The equivalent return on the FTSE All Share with net income reinvested is only 78 per cent. This is an extraordinarily good performance for a cautiously managed fund .

The majority of the assets are invested in equities, with around 36 per cent in the UK and 23 per cent overseas, but the fund also has an exposure to fixed interest, alternative assets, structured products and property investments. The latter are now mainly overseas.

Edwards invests for an absolute return and is prepared to invest in private equity funds and occasionally in unquoted investments when good opportunities arise. He is quite rightly rated AAA by Citywire.

The funds are managed for the longer term with an average expected holding period of three to four years. He chooses different themes at different stages of the economic cycle and within this he has a bias of contrarian value management rather than following the crowd.

He is open-minded and considers all new products and can adapt quickly if circumstances change.

In today’s volatile and rather high stockmarkets, a cautious fund like this is the ideal investment for the elderly, trustees and pension funds as well as for most growth portfolios.


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