Macro calls affecting the market, Russia on the up

Considering the scope of a managed fund's investment universe, performance is dependant on a range o...

Considering the scope of a managed fund's investment universe, performance is dependant on a range of conditions at both macro and micro level. While many managed portfolios have benefited over the past few months from the high oil price and weak dollar, Alex Tarver, fund analyst at Fidelity, says picking the right stocks is just as important as wider economic considerations. He says: "For a fund to do well you would have to have things like stockpicking right in relation to currency." Richard Prew, manager of Axa UK Growth fund, says investing from a top-down perspective has proved trou...