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Sun shines for F&C

F&C’s multi manager team has replaced its holding in Angus Tulloch’s First State Asia Pacific Leaders with Ezra Sun’s Veritas Asian fund across its lifestyle portfolios, multi-manager balanced and multi-manager growth portfolios.

The change was made to reflect F&C’s view that the Asia Pacific region will drive global economic growth. Sun’s blended investment style and ability to tilt portfolios in line with economic and market conditions was felt to reflect F&C’s outlook better than Tulloch’s conservative value-driven style and cautious portfolio positioning.

Head of retail multi-management Dean Cheeseman says he would not hesitate in bringing Tulloch’s fund back into the F&C portfolios when markets enter another period of volatility.

He says: “Our decision to sell the position in no way reflects any concerns over Angus or the fund. We continue to hold Angus in the highest of regard, particularly as his fund has outperformed considerably, during a period where global equity markets suffered some of the worst falls experienced in decades. he has contributed significantly to our portfolios’ performance”.

“We currently believe that the increased flexibility and proactive positioning offered by Ezra’s fund marries well with our thesis for the Asia Pacific region and we have every confidence that he will add value”.


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