Manek Growth defies UK sub-prime ripples

Sub-prime crisis means only a handful of UK funds managed positive returns over a year, with Jayesh Manek's vehicle still topping the peer group

Funds in the UK All Companies sector have taken a beating since ripples caused by the sub-prime crisis spread to the UK equity market. Only a handful have managed to book a positive return over the past 12 months and the sector average over the year to 14 April stands at -9.61%, according to Morningstar. The top vehicle in the peer group is almost 7% ahead of its peers over that timescale, namely Manek Growth run by ex-pharmacist Jayesh Manek. Manek began his career in fund management after winning a fantasy fund manager competition run by the Sunday Times in 1994. His decade-old Ma...