Chelverton Asset Management today (13 November) unveiled the launch of the Chelverton UK Opportunities Fund, an All-Cap portfolio with a minimum of 60% of assets in large cap stocks, managed by Julie Dean and Henry Botting.
Combining Chelverton’s expertise in managing UK equities with a business cycle investment approach, the new fund is a focused portfolio of between 35 and 55 All-Cap UK equities.
The fund has no permanent size, sector or style bias and seeks to outperform the UK Equity Market by 3% per annum over rolling three-year periods.
Julie Dean (pictured) joined the Chelverton UK team earlier this year. She began her fund management career in 1992 at GT Asset Management, managing UK equity funds, moving subsequently to HSBC Asset Management, where she managed both large and All-Cap UK equity growth funds, and numerous institutional portfolios.
She joined Cazenove in 2002 to manage its UK Opportunities Fund, later the Schroder UK Opportunities C Acc, which delivered a return of 251.74% over a 10-year period to 31 August 2014 compared with the IA UK All Companies return of 129.17%. From 2015 to 2019 she was an owner manager at Sanditon Asset Management.
Henry Botting joined Chelverton in 2021 and has 10 years’ experience in UK equities. He is also co-manager on the MI Chelverton UK Equity Growth Fund, which celebrated its 10th anniversary just a couple of weeks ago as the No.1 ranked UK Equity open-ended fund over the period.
The Fund will follow a pragmatic business cycle approach, combining a top down economic and stock market strategy with fundamental stock selection. Assessment of leading economic indicator data determines the portfolio style and size bias whilst the active stock selection process leads the team to seek those companies which will exhibit the fastest undiscounted earnings growth relative to the market at each stage of the business cycle.
• Expected dividend yield: TBC
• Income Paid: annually
• Dividend XD: 31st December
• Dividend Pay Date: end February
• IA Sector: IA UK All Companies
• Benchmark: none
• Market Cap Range: All Cap
• Structure: OEIC
Commenting on her return to fund management and the new fund, Julie said: “I am thrilled to be working with Chelverton – they are a super bunch of people, all of whom are passionate about investing, so it feels a bit like coming home. I am delighted with the opportunity to manage this new fund with Henry. The UK stock market is much maligned and offers world class investment opportunities.”
Botting added: “‘Julie’s expertise and knowledge of business cycle investing are a tremendous asset for Cheverton, and we’re excited to be launching the fund at a time when the economic cycle appears close to an inflection point."