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Laurence Boyle, the lead manager of Williams de Broe Assetmaster Growth, predicts a slide in the strength of the euro so he ditched Europe and doubled the portfolio's exposure to America.
The advent of offshore funds into the Investment Management Association (IMA) at the start of April saw the arrival of Williams de Broe Assetmaster Growth fund in the Active Managed sector.
Since its launch in February 2004, the Dublin-domiciled fund has returned 64.90%, which compares favourably with the 51.09% average return from the sector. This, however, is not to suggest it has been a wholly smooth ride.
"Our Achilles heel was the third quarter of 2008 where all of our mandates fell over," says Laurence Boyle, the fund's lead manager. "The Growth fund fell over because of its over-exposure to emerging markets,...