Rice takes major large-cap stance

Cazenove European head describes style as pragmatic contrarian

Chris Rice joined Cazenove with four of his colleagues from HSBC in 2002 and instantly began turning the European portfolio around to reflect the business-cycle approach used by all of the team. He said: "Prior to me taking over, the fund had been run with a very strong growth bias, which had done well in the bull market but badly in the bear period, mainly because of the technology shares it held. I implemented a programme trade on day one to impose our business-cycle approach. It is always best to have a clean sheet of paper." Over three years to 26 March, Cazenove European returned 82....