Old Mutual UK Mid Cap Fund R GBP Acc

UK Growth

Rated Fund 2017-2018. Takes a flexible approach through the economic cycle

Richard Watts' successful stewardship of the Old Mutual UK Mid Cap fund has seen it grow in size to £3.2 billion.

The fund's manager since 2008, Watts focuses on medium-sized UK companies — often the frontrunners in the growth stakes — and has also recently started to buy stakes in private, unlisted companies within the fund.

Barclays Wealth and Investments points to the fund's 'exceptional' performance, driven by holdings such as media company Ascential and online fashion retailer Boohoo. The latter started in the fund as a medium-sized company and has since been promoted to the FTSE 100.

Watts believes that a flexible style, encompassing a willingness to hold value and/or growth stocks depending on the conditions and outlook, provides the greatest scope for sustained outperformance.

He and the rest of the UK small and mid-cap equities team first look to identify sectors likely to outperform the overall economy. They study a wide range of economic and social indicators ranging over the domestic and global scene.

When selecting companies to be included in the portfolio, Watts expects that firms will typically meet at least one of three selection criteria: likelihood of a positive earnings revision; re-rating potential; or sustained above-average earnings growth. Each week the team produces a screen of data for all companies in the mid-capitalisation universe. Meetings with company management are another important part of the process.

Narrative and ratings content all as of 01 January 2018.

See all Money Observer rated funds
Name
Old Mutual UK Mid Cap Fund R GBP Acc
Manager
Old Mutual Investment Management Limited
Type
Open Ended Investment Company
ISIN
GB00B1XG9482
Sector
UK All Companies
Launched
18/05/2012
OCF
0.85 %
Risk Rating
5
3 Year Sharpe
1.08
3 Year Alpha
6.20
Yield
0.9 %
Benchmark
FTSE 250 Ex Investment Trust TR GBP
The fund seeks to provide capital growth from investing primarily in a portfolio of medium sized UK companies. Medium sized companies are defined as those companies of FTSE Mid 250 Index. Typically at least 80% of the invested assets will be held in companies meeting this definition.
Holding %
Ascential PLC 6.04 %
boohoo.com PLC 5.12 %
SSP Group PLC 4.52 %
Fevertree Drinks PLC 4.08 %
Ashtead Group PLC 3.77 %
GVC Holdings PLC 3.51 %
3i Ord 3.41 %
Unlisted Equity 1 3.36 %
Melrose Industries PLC 3.20 %
Indivior PLC 2.97 %
Region %
United Kingdom 98.40 %
Sector %
Consumer Cyclical 34.21 %
Industrials 25.16 %
Financial Services 12.89 %
Real Estate 11.40 %
Name
Old Mutual Investment Management Limited
Address
EC4P 4WR, London, United Kingdom
UCITS
Yes
Legal Structure
Open Ended Investment Company

Managers

Richard Watts
Joined 12/01/2008

Richard Watts has been appointed manager of the Old Mutual UK Select Mid Cap Fund, having been deputy manager since 2006. Prior to joining OMAM in 2002 he was an equity analyst at Orbis Investment. Richard is IIMR qualified and a CFA Charterholder.

Data provided by Morningstar.

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