Managers Alison Porter and Terry Ewing both want the fund to reflect their management styles by adopting a more aggressive stance, taking on themes such as infrastructure expenditure, which are now prominent in the US and across the globe.
Ewing is currently into his second stint at Resolution having returned back in Feburary 2007 from Old Mutual Asset Management. The managers believe the changes, which see industrials, technology and basic materials become the three overweights in the fund – will help offer more consistent top quartile performance.
The fund has been 43 out of 69 funds in the IMA North America over the past three years, reflecting the funds indifferent returns.
Ewing says: “The fund is very much positioned for growth because we believe the market will remain buoyant as exporters thrive in a dynamic global economy, the M&A boom continues and firms use their excess cash to enhance shareholder returns by buying back shares. Valuations are not stretched, earnings expectations are unnecessarily low and there is a solid outlook for global growth.”