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AA-rated Savvides signs up for Wealth Manager Conference and Awards
by Natalie Fast on Feb 08, 2013 at 17:17
JO Hambro Capital's Savvides has widely been tipped as manager to watch and he regained his AA rating this month, after slipping to a still respectable A rating in December.
His style favouring ‘unloved’ UK companies has seen him take something of a contrarian overweight stance in UK financials. ‘It’s a good environment for financials and banks. They are trying to become more efficient in the new regulatory environment and we think that this theme has not yet played out,' Savvides says.
The fund’s exposure to financials such as 3i and the London Stock Exchange illustrates Savvides’ conviction, along with his belief that there is a current rise in risk appetite. ‘The early signs that the stock market is starting to wake up and rise in volume’.
His fund has returned 49% since its launch in 2008 and Savvides has outperformed average manager in his peer group by more than 10%. He does not attribute this performance to any one thing, citing his well-honed process for the consistency.
Savvides offers a measured view on the appointment of Mark Carney as the new governor of the Bank of England. ‘I have no strong opinion on Carney, it’s too early. However, when we look to invest into a company, we see change of personnel as a positive. I hope and expect him to bring a fresh, consistent and common sensual approach’.
With former Bank of England deputy governor for financial stability Sir John Gieve scheduled to take the stage at the Conference, the appointment of Carney will no doubt be a hotly discussed topic.
Savvides joins a range of managers speaking at the Conference, but stands unique in his exposure to the UK market. The full line-up includes:
Brett Diment: Aberdeen
Arif Joshi: Lazard Asset Management
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