The AXA Framlington American Growth Fund has been managed by Stephen Kelly since 1997 and has, over the last five years returned 109% to investors. The Schroder US Midcap Fund has produced a return over the same period of 98% and at just over £1bn in funds under management is roughly double the size of the AXA fund with £589m. In Jenny Jones, the Schroder fund, like the AXA vehicle, has a manager that has been with the fund for a considerable amount of time, since 2005.
There is a definite difference in terms of investment style between the two funds, with Jones following a value approach, as opposed to the growth emphasis of the AXA fund, but both funds have consistently beaten their respective benchmarks.
