Natural resources help raise returns

Fund manager's comment

Asset allocation has more than proved its worth as a vital tool for helping us generate excess retur...

Asset allocation has more than proved its worth as a vital tool for helping us generate excess returns for our investors. While some multi-managers might regard asset allocation as a risky strategy, we most definitely do not and can readily identify the extent to which it has added to our overall returns. We estimate that it has added between 30% and 50% to our performance in each of the past five years. We have been playing out several themes through our holdings, most notably high global demand for natural resources. We think UK equities still offer reasonable value, albeit with ...