Russell Wallis says sticking with an overweight resources position over the past two years has helped the fund generate a positive return.
The manager of the Waverton UK fund, alongside Simon Wilson, says he has stuck with positions in the oil, gas and mining sectors throughout the funds existence, despite many managers dubbing the time as a commodities bubble.
He has avoided trading in and out of these sectors, a trend demonstrated by many British equity fund managers in 2008, and says they have continued to offer extremely exciting prospects.
So far this year the fund has gained 1.9% against the sector average of 0.65%, according to Morningstar.
The most successful position throughout the funds existence has been resource stocks, and the fund still has a good core exposure to these areas.
Some of the share prices have come down a long way but these companies will be at the forefront of a recovery and the share prices will go up exponentially.
The funds biggest overweight stock is in Xstrata, and it also holds other groups such as BP, Royal Dutch Shell and Rio Tinto, as well as smaller companies such as Tullow Oil and BHP Billiton.
Wallis says the smaller companies have demonstrated stronger growth while the bigger stocks benefit from high dividend yields and earnings outside of the sterling.
Wilson manages the derivative overlay on the fund but says the portfolio has only used two covered call options in 2009 to participate in the market rally.