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Shapiro to run best ideas fund for Collins Stewart

Collins Stewart Fund Management is to start a UK best ideas fund under the management of David Shapiro.

Shapiro, previously head of value at Morley Asset Management, will run the portfolio out of his investment firm Greentrees Partners, a joint venture set up with CFSM in September.

The fund will hold 30 evenly weighted stocks and is set for launch on February 1.

Shapiro, who follows the precepts of investment gurus such as Ben Graham, Warren Buffett and Phil Fisher, will have no market-cap bias in his portfolio and will focus on undervalued companies which have strong fundamentals and are currently out of favour.

He will look for investments that he sees as trading at a 40 to 50 per cent discount to their value and will use Collins Stewart’s proprietary research tool Quest, which analyses wealth creation and valuation.

Minimum investment is £5,000 while the initial and annual management charges are 5 and 1.5 per cent. There is a performance fee of 20 per cent of the amount the fund outperforms the FTSE All Share index.

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