Mitchinson and Pegrum get backing from Hambi

Hambi (pictured), who has included the fund in his Gartmore Portfolio Active Strategy, Balanced Strategy and Global High Alpha funds, says: “We held Mitchinson’s Framlington Japan fund and have kept in close contact with him since he moved to Tokyo with JPMF. We are now confident he has all the necessary resources to unlock value among restructuring Japanese companies to produce further outperformance.”

Gartmore launched four new funds of funds to the UK retail market last month to add to its existing Balanced Strategy fund. As well as the Active Strategy and Global High Alpha portfolios, it also launched a Cautious Strategy fund and a UK High Alpha fund.

Another fund that has caught Hambi’s eye as he invests the new portfolios’ money is Neil Pegrum’s recently launched Cazenove UK Dynamic fund. He says: “We have known Pegrum for some time and have a high regard for his stockpicking ability. He built an impressive long-term track record at both M&G and Insight, and in our view is more than capable of meeting our performance expectations for the Cazenove fund.”

Hambi has included Pegrum’s fund in his UK High Alpha, Global High Alpha, Active Strategy and Balanced Strategy funds.

The Cautious Strategy portfolio is different from the others as it can take advantage of the new Ucits III rules. These allow Hambi to invest assets into cash and property funds, as well as equities and bonds. Among its new holdings, he says, are the New Star Property fund, managed by Roger Dossett, and the M&G Property fund.

While the Cautious fund has the ability to invest all of its assets in cash, Hambi has put an upper limit of 30% on the asset class. Meanwhile, he will limit his property exposure to a maximum of 20%, with the remainder in equities and bonds.