On the 17^th September 2015, and following The Adviser Centre Monthly Review Meeting on the 4^th September 2015, we moved the Man GLG Undervalued Assets fund to the Recommended list.  The fund previously featured on The Adviser Centre's Positive Watch list.

The fund is co-managed by Henry Dixon and Jack Barrat, together with third team-member, Alice Owen.  This is a close-knit team and they previously worked together at Matterley (part of Charles Stanley) before joining GLG (now Man GLG) in October 2013.

Man GLG Undervalued Assets is a relatively new fund (incepted in November 2013), but the team operated the same approach at Matterley and the process is therefore well-established.  The fund is distinctively value-biased and the main focus is the understanding of a company’s assets and liabilities, with the aim of determining its true value.  Investments are made when they believe that the market is undervaluing the asset base, or where the company is producing a return on capital that is higher than its cost of capital.

The fund’s value bias, together with its all-cap credentials, mean that its risk and return profile has the potential to differ meaningfully from that of the index.  We regard the fund as an interesting diversifier when used in a UK equity blend.

Based upon our knowledge of the team, the diligence with which the approach is applied through different market conditions and the working environment at Man GLG, which is supportive of their active approach, we are now pleased to include the fund in our Recommended list.

For a reminder of our list definitions, please click here.

At the present time, The Adviser Centre features:

• 107 Recommended funds
• 21 Established funds
• 6 Positive Watch funds