Architas MM Growth fund undergoes restructuring

Architas' Caspar Rock has restructured the Asian equities portion of his £64m Multi-Manager Growth fund to smooth returns.

The deputy chief investment officer has halved the fund’s holdings in First State’s Asia Pacific Leaders fund, and sold out of the Aberdeen Asia Pacific portfolio. Rock has cut the 6.13% position in First State to 3.27%, and has sold the entire 5.04% holding in Aberdeen. He used the cash generated to take a 3.38% position in Fidelity South East Asia, and 3.34% in the Veritas Asia fund. Asian equities make up 10% of the fund. Richard Philbin, the chief investment officer, says: “We were not unhappy with the performance of the First State fund, but by bringing in Fidelity we neutralised...