Tulloch protégé adds raft of positions to Kennox portfolio

The managers of the Kennox Strategic Value fund have moved to add several new holdings to their concentrated portfolio in a bid to take advantage of market volatility.

Holding under 30 stocks, the £70m fund takes a long-term approach with a focus on capital preservation and deep value, an approach Kennox believe can produce double-digit returns even if earnings growth is absent. The Strategic Value fund is the sole offering from Kennox, and is run by former First State manager Charles Heenan (pictured) and Geoff Legg. First State Stewart joint managing partner Angus Tulloch has given his backing to the fund and sits on Kennox's advisory panel. The pair said recent market volatility provided a number of attractive entry points: of the current 26 stoc...