Smith, Yarrow and Findlay on Chatfeild-Roberts ‘select’ list

There are few true stars in the active management industry, according to Jupiter Merlin’s John Chatfeild-Roberts, but the multi-manager head thinks Terry Smith, Hugh Yarrow and James Findlay make the grade.

Smith, Yarrow and Findlay on Chatfeild-Roberts ‘select’ list

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Currently, the Findlay Park American fund appears in three Jupiter Merlin portfolios and Yarrow’s Evenlode Income appears in four.

Stuart Rhodes’ M&G Global Dividend Fund is also a mainstay in four of the multi-manager portfolios and Terry Smith’s Fundsmith Equity fund appears in all five.

“We do put our money where our mouth is,” said Chatfeild-Roberts.

“We’re consistent in what we do across the board.”

And Chatfeild-Roberts thinks this is a good time for active managers to prove their value over their passive counterparts, as the end to the equity bull market is imminent.

“The bull market, even allowing for wobbles in 2013, has been going on for a while, significantly longer than many bull markets.

“Almost irrespective of what’s going on outside, markets have a sort of rhythm to them.

“Whether the marginal pound is stopping right now, in six months’ time or two years’ time, I don’t know.

“But we have come a very long way and you just shouldn’t expect things to be this good forever.”

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