Opinions are divided on how Britain’s Brexit-inspired political rollercoaster will play out in the the stock market. But one thing’s for sure, the active fund management industry is already feeling the effects. Risk-wary investors have been pulling their cash from active funds at a rapid rate this summer… but not everyone is feeling the effects.
Over the past six months Keith Ashworth-Lord has seen the size of his Sandford Deland UK Buffettology Fund nearly double to £1.13 billion. In that time, the number of holdings in the fund has risen from 30 stocks to just 34. That’s a big clue about the careful stock selection and high conviction that lies behind Ashworth-Lord’s strategy. When I interviewed him three years ago, the fund had just crossed the £50 million mark – and then, just as now, he was insisting that 30-or-so stocks was adequate diversification.
As the name suggests, Ashworth-Lord’s Buffettology Fund takes its cues from the investing approach of the legendary investor, Warren Buffett. And while it’s easy to see why Buffett’s multi-billion dollar fortune is enviable, a big part of his appeal is his consistent common-sense approach to the stock market….
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