Fund of the week: 'Uninvestable' is a buy signal

The gutsy approach to investing taken by this benchmark-beating fund has paid off handsomely.

Last year, anyone who had the nerve to invest in company sectors seen by many investors as toxic was rewarded handsomely. Ed Legget, who runs the Standard Life Investments UK Equity Unconstrained fund, was one of 2012's best proponents of this strategy.

His £511m fund came out on top in the Chelsea Financial Services New Years honours list. Legget returned 46% in 2012 against a mere 6% for the FTSE 100 index. Over three years his fund is up 63% and over five years by 90%, so this was no one-off. How did he do it?

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Smiths (DS)5.0%
Int'l Personal Finance4.8%
Lloyds Banking Group4.2%
Bodycote4.2%
Barclays4.0%
Howden Joinery Group3.6%
Yule Catto3.6%
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