Coaching a High-Performing Fund
Running a fund with 60 best ideas from around the globe is like coaching a sports team, says Iain Clark, leader of the Henderson Global Investors International Opportunities fund (HFOAX). From his perch in London, he gathers 10 to 15 stocks (bought on the local exchanges) from five other portfolio managers: Stephen Peak and Tim Stevenson in London pick European stocks (60% of the fund), Andrew Millward in Tokyo (21%) covers Asia, Andrew Mattock in Singapore (14%) has Asia excluding Japan, and Ian Warmerdan chooses global tech stocks (5%). His latest moves include trimming holdings in China, given that market's "frothy" gains, and he's considering raising his stakes in Japan and global tech stocks.
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