Neptune's Burnett: We have been waiting for this equity market turning point

Cyclicals beginning to outperform

Natalie Kenway
clock • 3 min read

Neptune Investment Management's Rob Burnett's patience with European banks appears to finally be paying off, as his European Opportunities fund soars to the top of the IA Europe ex UK sector over six months.

The £242m fund has under-performed over the past five years up until earlier this year, with manager Burnett (pictured) steadfastly sticking to his overweight bank position. His fund has around 35.6% (as at 30 September 2016) in financials, compared to 19.1% for the MSCI Europe ex UK benchmark (as at 31 October 2016). Over five years to 21 November, the fund is 80th out of 84 funds in the sector, returning 65% compared to the sector average of 84%. However, the fund has jumped over the past six months to number one out of 106 funds, returning 22.6% versus the peer group's average of 1...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Europe

Timing of ECB rate cuts in doubt as core eurozone inflation measure disappoints

Timing of ECB rate cuts in doubt as core eurozone inflation measure disappoints

Services price inflation remains sticky

Valeria Martinez
clock 01 February 2024 • 1 min read
Eurozone inflation rises to 2.9%

Eurozone inflation rises to 2.9%

Driven by energy prices

Elliot Gulliver-Needham
clock 05 January 2024 • 1 min read
European mutual funds suffer €19bn outflows in October

European mutual funds suffer €19bn outflows in October

LSEG Lipper European Fund Flows

Cristian Angeloni
clock 27 November 2023 • 2 min read
Trustpilot