Overhaul to 25-stock best ideas reinvigorates L&G fund

King's radical management changes on L&G European took trust from bottom quartile over five years to second position over past three months

Ian King has turned around the performance of the L&G European Trust since converting it to a 25-stock best ideas vehicle just over a year ago. Over five years to 11 August, the vehicle is 68th out of 78 vehicles in the Europe ex UK sector underperforming the sector average by 18.8% according to Morningstar. However, the fund is now 25th out of 97 funds over one year and 2nd out of 104 vehicles over the past three months. L&G recruited King in January of 2007 to head up the mandate five months after the previous managers left. Former Axa Framlington manager Alia Baig and her team le...