Neptune US Opportunities Fund - change of manager
Richard Troue | Wed 01 June 2016
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Felix Wintle has left Neptune Investment Management and handed responsibility for the Neptune US Opportunities Fund to James Hackman. Patrick Close has been appointed co-manager and Ali Unwin assistant manager.
James Hackman joined Neptune in 2012 and took over as manager of the Neptune US Income Fund in June 2014. He will use the same investment approach on both funds and look for companies able to consistently earn high returns on the capital invested in the business. Since he took over the US Income Fund it has grown by 26.6% compared with 28.5% for the S&P 500 Index and 22.4% for the IA North America Sector*.
Past performance is not a guide to the future. Source: Lipper IM *to 03/05/2016
| Annual percentage growth | |||||
|---|---|---|---|---|---|
| May 11 -
May 12 |
May 12 -
May 13 |
May 13 -
May 14 |
May 14 -
May 15 |
May 15 -
May 16 | |
| Neptune US Income | 6.6% | 18% | 3.5% | 22.9% | 6.2% |
| S&P 500 | 7.6% | 20.1% | 11.91% | 27.1% | 4.4% | IA North America | 3.0% | 18.4% | 10.6% | 23.6% | 2.0% |
As James Hackman uses a different approach to Felix Wintle, who focused on companies capable of strong earnings growth, there are likely to be a number of changes to the portfolio over the coming weeks and months. Once this process is completed he expects to buy and sell stocks less frequently than Felix Wintle as his aim is to identify companies able to consistently grow returns to shareholders and invest in them for the long term. This remains a concentrated portfolio, which means each investment can contribute significantly to performance, but it is higher risk.
We are pleased to see Neptune take some action to improve the performance of the Neptune US Opportunities Fund for investors. Despite initially performing well Felix Wintle struggled recently and underperformed both the S&P 500 Index and IA North America Sector over the past five years. However, James Hackman has a short track record overall and we are not currently considering the fund for the Wealth 150 list of our favourite funds across the major sectors.
Past performance is not a guide to the future. Source: Lipper IM to 03/05/2016
| Annual percentage growth | |||||
|---|---|---|---|---|---|
| May 11 -
May 12 |
May 12 -
May 13 |
May 13 -
May 14 |
May 14 -
May 15 |
May 15 -
May 16 | |
| Neptune US Opportunities | 0.1% | 17.2% | 9.8% | 19.1% | -8.0% |
| S&P 500 | 7.6% | 20.1% | 11.9% | 27.1% | 4.4% | IA North America | 3.0% | 18.4% | 10.6% | 23.6% | 2.0% |
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