Chelverton Asset Management has launched a UK equities fund to be managed by Julie Dean, who joined the firm earlier this year, alongside Henry Botting.
The Chelverton UK Opportunities fund is an all-cap fund with 35 to 55 stocks, and 60% of assets in large-cap holdings. It targets outperforming the UK equity market by 3% each year over rolling three-year cycles.
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Dean will bring nearly 30 years of experience to managing the fund. She started her career with GT Asset Management in 1992 as a UK equity manager, before time at HSBC Asset Management and Cazenove. In 2015, Dean became an owner manager of Sanditon Asset Management alongside Tim Russell and Chris Rice who created the boutique in 2013. After a period of poor performance by the firm’s absolute return strategies, Sanditon wound up in 2019 due to profitability concerns.
Dean will return to asset management with her role at Chelverton and the UK Opportunities fund.
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“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,” Dean said.
Botting, who joined Chelverton in 2021, will be co-manager of the fund. He brings 10 years of experience in UK equities and co-manages the MI Chelverton UK Equity Growth fund.
“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,” Botting said.
