View more on these topics

Morillo cherrypicks Pan-European style for Investec

Investec Asset Management has added the Pan-European fund to its range of select funds.

This offshore fund is denominated in euros and aims to provide capital growth by investing in Europe excluding the UK. It invests in a concentrated portfolio of between 30 and 40 stocks, which is the preferred style of its fund manager, Albert Morillo.

Morillo and his team are part of BlackRock, a fund management company based in New York, that has managed Investec&#39s three existing European funds since April 2000. Morillo&#39s aim is to outperform the market and this involves adapting to a growth or value style of stockpicking in line with market forces.

Concentrating on a tight portfolio of stocks increases the potential rewards for investors if the selected stocks are good performers. However, this approach also carries higher risks because the number of stocks is so small and the fund manager has less leeway to make the wrong choice.

The Pan-European fund may attract attention from experience investors who are looking for an offshore European fund that is more aggressive than some European funds that invest in a greater number of stocks. Although the performance of global stockmarkets has been unimpressive lately, investors may reap the rewards when the winds of change start blowing in Europe&#39s favour.

According to Standard & Poor&#39s, the Investec GSF continental European fund is ranked 20 out of 53 funds based on £1,000 invested on a bid to bid basis with gross income invested over three years to May 28, 2001.


What the minister did next

It is June 11 and your post-election hangover has cleared. You have hadyour 60 seconds with the Prime Minister and you are the new Treasuryeconomic secretary. That&#39s the easy bit done. What happens next? If you are sensible, you will have read Gerald Kaufman&#39s witty andilluminating book, How to be a Minister, so you will […]

Nationwide says house price rise to hit 7 per cent

House prices have risen by 5 per cent since the start of the year and showno signs of slowing down, according to figures from Nationwide. Despite media predictions of a property slump, the society&#39s monthly indexshows that house prices rose by 0.8 per cent in May compared with a 0.3 percent drop at the same […]

&#39Individual skills make a difference&#39

Alan Steel Asset Management consultant Alan Adam says: “I think it wouldbe hypocritical if our firm did not take the launch of New Star intoconsideration for our clients. We were strong advocates of the bulk of theJupiter team and their ability to pick the right stocks. Just because theyare with a new employer does not […]

Outside Edge – Robert Reid

When I heard the phrase Advice First, I was pleased that some of mycomments in the past such as “planning before product” had finally takenroot in the IFA mindset. But I was to be disappointed as this phrase wasthe new name for the IFAP/Aifa joint promotion company. Some time ago, I was asked whether I […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm