Euro Stars A-rated Freeman-Shor has removed two managers from the Old Mutual European Best Ideas fund as he seeks to move to a more pronounced value/growth tilt.
As revealed by Citywire Global earlier this year, Freeman-Shor had been on the look-out for a value specialist to add to his fund, which is made up of 10 European equity managers running 10-stock portfolios.
Freeman-Shor said the decision to cut de Fonclare was prompted by the fund’s current bias towards quality growth, which he was seeking to dilute.
In addition, Shant was axed due to his stock selections often over-lapping with other managers already in the fund.
The Old Mutual European Best Ideas fund has returned 35.62% over the three years to the end of July. This compares to a 29.05% rise by its Citywire benchmark, the FTSE World Europe TR EUR.