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Neptune responds to Farrow column

Dear Sirs,

I write following Paul Farrow’s article on Neptune of 26 July.

Comparing Neptune with New Star is fundamentally flawed: New Star was over-geared whereas Neptune has no debt, and the philosophy, process and culture of Neptune and the former New Star are poles apart. We have no stars other than our process but we do have a portfolio of highly talented fund managers of whom we are rightly proud.

When Farrow looked at our fund range, he would have noticed Mark Martin’s £10m Neptune UK Mid Cap Fund, which has a superb performance record, having returned 123.15 per cent since its launch in 2008 – more than double the sector average of 54.59 per cent. Respected fund managers such as Woodford, Bolton and Robin Geffen have grown funds from embryonic start-ups of as little as £1m.

Neptune has grown steadily to £6bn but has naturally been affected by weak equity markets and risk aversion as it is a high conviction equity house. Recent performance in some funds has suffered as we are positioned for a rally in equity valuations on the back of above-consensus global economic growth. 

Our clients choose Neptune because they are taking a long-term view and are prepared to experience short-term volatility as they believe in the Neptune investment philosophy that has underpinned the growth of the company and the long-term performance record.

Regards,

Richard Green

deputy managing director

Neptune Investment Management

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