Fund of the week: De Blonay's New Star rises high
In the wake of the recent market fall, 35-year-old Swiss Guy de Blonay has begun positioning his New Star Global Financials fund more defensively.
In the wake of the recent market fall, 35-year-old Swiss Guy de Blonay has begun positioning his New Star Global Financials fund more defensively, increasing its cash weighting from 3% to 10%, says The Sunday Times. And given his impressive track record of coming through sharp drops, he's probably better placed than others to weather the current storm. When the FTSE plummeted 25% in 2002, de Blonay's fund fell just 5.3%, beating all his competitors in the specialist sector for that year.
Based in the UK since he joined Jupiter Asset Management in 1995, de Blonay's New Star fund has returned 126% against 62% for the FTSE All Share over the past three years. He explained his predominately bottom-up approach to investing in The Times last year. "Superior absolute performance is sustainable in any market conditions, as long as you pick the right stocks," he said.
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New Star Global Financials top ten holdings
