Simon Clinch to join F&C US equities arm

Della-Porta says Clinch’s experience in quantitative analysis gained at Aberdeen will help develop the new screening process the US team has recently implemented.

Communications director Jason Hollands says: “Our US desk uses a strong team-based approach with different members covering different sectors of the market. Rupert Della-Porta recognises that running US money out of London requires a focus on the quantitative side of management and has developed a quant-based approach.”

Although most of the money managed by the team is on behalf of institutional clients, F&C currently offers two American funds to retail investors. Robert Siddles manages the 63m US Smaller Companies investment trust, and Della-Porta runs the open-ended 193m North American fund.

The US Smaller Companies fund invests in small and medium-sized American firms and aims to achieve long-term capital growth. Siddles has a diversified portfolio with top three holdings of Fred’s, Pride International and Republic Services at March 31.

The top 10 holdings make up 22% of the portfolio. Over 56% of the fund is held in the consumer discretionary and financial services sectors.

Della-Porta’s North American fund invests in shares of American and Canadian firms and can hedge currency risk. Top three holdings at April 29 were General Electric, Citigroup and Exxon Mobil, making up 11% of the portfolio. The financials and consumer sectors also feature heavily in the fund.

Clinch will work alongside Siddles and Della-Porta on the two funds, using quant methods similar to those he used to manage the Windsor Life North American equity fund at Aberdeen.

He also manages Aberdeen’s North American and American Opportunities funds. Robert Sellar will take over Clinch’s responsibilities at Aberdeen with immediate effect.

Clinch joined Aberdeen in 2001 and began his investment career with Vencap International in 1997. He will join F&C at the end of May.