RLAM's Mitchell: How I have gained from cyclicals exodus

FMF

Derek Mitchell joined Royal London AM in 2007 to manage the newly launched UK Special Situations fund, which became the UK Opportunities fund. In 2009, he also took up the reins of the Mid-Cap Growth fund.

On a three-year view, Mitchell’s £417m UK Opportunities fund has returned 41.5%, beating the IMA UK All Companies sector average of 36.9%, and placing it in the top quartile of the peer group, according to Morningstar. The £87m Mid-Cap Growth fund, has also outperformed over the period, returning 64.9% against the same sector. Here, Mitchell explains how  cyclicals have provided him with compelling buying opportunities, why a concentrated portfolio is better for performance, and why run of the mill bailouts are no longer effective. How have you managed to outperform over the last thre...