Thames River Capital has rejigged the European equity holdings on the F&C Lifestyle range after F&C bought Thames River last year.
Paul Carne, an associate at Thames River’s fund of fund business Thames River Multi-Capital, has sold the defensively positioned Cazenove European fund as well as Neptune European Opportunities and JOHCM Continental European.
He has instead bought the iShares MSCI Europe ex UK ETF for index exposure and the BlackRock European Dynamic fund to deliver outperformance. (article continues below)
The BlackRock fund is one of only 15 in the entire industry to have been top-decile in terms of returns and risk-adjusted returns over 2010 and over the three years preceding, according to Fund Strategy research.