Top down calls give Mitchell the edge in UK All Cos sector

RLAM UK Special Sits manager's top-down high conviction approach gives top-quartile outperformance as portfolio celebrates third anniversary

Derek Mitchell’s Royal London UK Special Situations fund celebrated its third anniversary last month by delivering top-quartile returns, driven by the manager’s top-down high conviction approach. According to Morningstar, the £363m vehicle is ranked fifth out of 281 vehicles in the IMA UK All Companies sector over three years to 23 July, up 8% compared to a sector average decline of 13.1%. Over one year it is up 34.4%, compared to a sector average of 23.3%. The fund is a concentrated ‘best ideas’ portfolio, which takes high conviction stock and sector positions based on Mitchell’s top...