Hargreave Hale: Bonds are starting to look very dangerous

Giles Hargreave, manager of the Marlborough UK Micro Cap Growth fund, tells Cherry Reynard how he is positioned for the recent run of strength in his sector to continue.

There has been a vogue in fund management in recent years for concentrated portfolios. The 30 to 40 stock ‘best ideas' fund has been seen as the ideal way to generate alpha. Giles Hargreave, manager of the Marlborough UK Micro Cap Growth fund, has not been swayed by recent fashion, believing a well-diversified portfolio, supported by a large and efficient investment team, is a better way to generate risk-adjusted performance. The fund has been running since 2004 and is one of a number of small-cap specialist mandates run by Hargreave. The fund focuses on companies with a market capita...