Sean Peche has taken over the MI Thornbridge Global Opportunities Fund, after Anthony Eaton stepped down as manager in September 2019.
Peche uses a different investment approach to Eaton. The previous manager considered wider themes in his investment process, including the rise of consumption across the emerging markets. In this part of the world, incomes are rising, which is driving a growing demand for food, healthcare, and a western-standard lifestyle. His aim was to identify businesses worldwide that benefit from this trend.
Peche uses a value-based strategy and mainly looks at the prospects of individual businesses, rather than broader trends in the economy. He likes companies that have promising earnings prospects, whose shares he can buy at a price that doesn't yet reflect this future growth potential. He'll also invest in a smaller number of companies, which means each one can have a bigger impact on performance, though this is a higher-risk approach. The ability to invest in emerging markets also increases risk.
The fund doesn't currently feature on the Wealth 50 list of our favourite funds. It was removed from the list in January 2014 after our analysis highlighted concerns over Eaton's ability to add value through stock selection. The fund has since grown 69.4%*, underperforming the 96.0% for the FTSE World Index and 74.7% for the average fund in the IA Global sector. Past performance isn't a guide to future returns.
| Annual percentage growth | |||||
|---|---|---|---|---|---|
| Oct 14 -
Oct 15 |
Oct 15 -
Oct 16 |
Oct 16 -
Oct 17 |
Oct 17 -
Oct 18 |
Oct 18 -
Oct 19 |
|
| MI Thornbridge Global Opportunities | 2.7% | 29.0% | 17.9% | -3.2% | 11.7% |
| FTSE World | 4.6% | 29.7% | 13.7% | 4.7% | 11.7% |
| IA Global | 6.0% | 24.0% | 14.0% | 1.1% | 11.2% |
Past performance is not a guide to the future. Source: Lipper IM* to 30/09/2019
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