SYZ Asset Management head of European equities Mike Clements has said his decision to turn over 100% of the portfolios he inherited two years ago has paid off.
Clements (pictured) joined SYZ AM from Franklin Templeton to manage the £746m Oyster European Opportunities, £33m Continental European Selection and £187m European Selection funds, previously run by Eric Bendahan. Less than two months after joining in October 2014, Clements had completely changed the portfolios. The manager said: "I have a different style to the previous manager as I am more value focused. He was willing to pay up for good companies whereas I am not. We disagreed over everything in the portfolio. "You cannot blame performance on the old manager's holdings and you w...
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