Ignis has converted its U.S. Growth portfolio into a best ideas fund to boost performance, Investment Week reports. The firm’s head of U.S. equities, Terry Ewing, has reduced the number of holdings from 75 to 53, with a view to cut it further to around 45 stocks.
The manager has also increased the fund’s tracking error to between 6% and 8%, from between 4% and 6%. Ewing’s £109 million fund has returned 14.6% as compared to the average fund’s return of 14.1%.
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