Swip hands MM UK Equity Focus mandate to FOUR

Swip Multi-Manager has hired FOUR Capital Partners to manage a mandate for its UK Equity Focus fund with an initial size of £256m.

The mandate will be run in line with FOUR's Active UK Equity product using the group's Intrinsic Value investment approach. This is based around a long-term cashflow and returns analysis to establish the true worth of a business. Where the stock market's valuation underestimates current assets or future growth, FOUR will take significant positions to drive performance. Derrick Dunne, founding partner and director of FOUR, says: "We are delighted with this appointment. Our investment team and its Intrinsic Value process is proving very consistent in its ability to deliver outperforman...