Trenchard moves up market cap scale in oils and biotech

Manager has reversed his predecessor's aversion to oil and biotech holdings on SLI UK Opportunities offering and is also taking opportunities across the market cap spectrum

Caspar Trenchard has turned over a large proportion of holdings on the £300m Standard Life Investments UK Opportunities fund since he inherited it from Mark Niznik last year. Trenchard has been refocusing the portfolio, moving it up the market cap scale and increasing exposure to oil and mining stocks and the biotech sector. Over the three years to 15 September, the vehicle has delivered 21.1%, ranking it top quartile. One-year performance has come off however, with the portfolio booking a 15.4% loss according to Morningstar. When markets begin to settle down, the impact of the manage...