Mumford: What I have learnt over 25 years of investing

MUMFORD

After 25 years at the helm of the Cavendish Opportunities fund, Paul Mumford tells Sam Hodges the secrets of his success.

Paul Mumford is a seasoned investor in UK equity markets after a quarter of a century managing the same small-cap focused portfolio. He moved into fund management from stockbroking, where he had specialised in smaller companies, in 1988 when he joined Glenfriars. He took on the newly-launched Opportunities fund, which later became the Cavendish Opportunities fund. His move was triggered by the ‘Big Bang’ in October 1986, when then Prime Minister Margaret Thatcher enacted policies designed to boost the competitiveness of the City. Mumford said he thought this could be a turning poin...