At The Adviser Centre Monthly Review Meeting on 4^th October 2017, we decided to move the Kames UK Equity Absolute Return fund to our Positive Watch list.  The fund previously featured on our Established list.

In our bulletin of 2^nd June 2017, we communicated the news that David Griffiths, one of the fund’s three co-managers, had decided to leave the firm.  David Pringle and Malcolm McPartlin remain as co-managers and there has been no change to the investment philosophy or the objectives of the fund.

Following further discussions with the managers, we continue to feature the fund within The Adviser Centre but the Positive Watch status reflects our desire to monitor the fund more closely following the team changes and to build our confidence in its ability to achieve the longer-term risk and return objectives.  In 2016-17, the drawdown experience was more extended than we would normally expect, albeit in some extraordinary market conditions.  In reviewing this, the managers have made some changes to their approach to constructing the portfolio, with a view to controlling risk more effectively in the future.

The fund resides in the IA Targeted Absolute Return sector and to see our IA Sector Overview, click here.  It resides in our “Long/Short Equity - Market Neutral” category.