Funds to watch – newcomers
• The Courtiers Global (ex UK) Equity Income Fund, launched only a year ago, is somewhat unique in the sector because of its policy to exclude companies domiciled in the UK. This may aide domestic investors that are seeking to diverse their portfolios with international exposure. While past performance is short, returns have been top of the sector, albeit with higher volatility.
• The Old Mutual Global Equity Income Fund uses a variety of styles and themes, producing a highly diversified portfolio. The philosophy is that a mix of styles work better in different market conditions, ultimately stabilising returns over the long term. Companies are selected mostly on fundamental data, which co-manager Ian Heslop (pictured) stresses are based on current market conditions, rather than any forecasts.
• The Jupiter Global Equity Income Fund takes an unrestricted approach, with no size, sector or regional constraints. Co-managers Sebastien Radcliffe and Gregory Herbert take a patient and disciplined approach to selecting stocks; they tend to select businesses with high, sustained returns on capital, good conversion of profits into cash and low levels of debt. They will often look at out-of-favour areas of the market.