The £190m fund, which is managed by John Wood, replaces Edward Bonham Carter’s £226m Jupiter undervalued assets fund as one of the UK funds which comprise 50 per cent of Swip’s fund.
Managed by John Wood, JOHCM UK opportunities has been a good performer and is top quartile in the IMA UK all companies sector over the past 12 months.
Swip set up its first two multi-manager funds in December 2007 after the appointment of Mark Harries and Simon Wood from Cazenove earlier in the year. Swip multi-manager sales director Ber-nard Henshall says Wood was the stand-out candidate the group wanted exposure to in an area that has limited candidates for selection.
He says: “Our absolute return strategy highlighted someone like John Wood who can provide downside protection and upside performance. One thing we do need more of is managers with funds that work towards absolute rather than relative returns. Few are gathering meaningful returns in all market conditions.”