Rensburg's Spencer sees bottom imminent within equity markets

Manager moves toward consumer-facing sectors in anticipation of equity market bottom

Paul Spencer has managed the Rensburg UK Mid Cap Growth Trust since February 2006. He joined the group from TD Waterhouse where he was head of research, specialising in small and mid caps. Spencer said the £68m fund enjoyed 12 months of fantastic performance when he first took over, but struggled along with peers during the subsequent downturn. Over three years to 21 October, the vehicle made a return of 1.8% and ranked eight in the UK All Companies sector according to Morningstar. Looking over a year, it has lost 38.6% and slipped down to the middle of the peer group. The average r...