Ashby overhauls £900m Santander UK Growth fund in bid to turn around performance

Revises overweights and underweights

Santander Asset Management's Graham Ashby has "significantly restructured" the group's "core" £900m UK Growth fund since taking over the reins in February, including cutting overweight positions to the oil & gas sector and increasing exposure to domestic-facing companies.

Ashby has made the changes in a bid to revive the fortunes of the fund since he took over from Richard Moore. Over five years to 31 January, Santander UK Growth returned 43.9% compared to an IA UK All Companies sector average of 68%. Ashby said: "Historically, the fund has not achieved the return we would like and that is why I was brought on board as the fund is viewed as a core proposition. Over the following months, I carried out a significant restructure." Santander AM unveils multi-asset income fund for Caddick Much of the overhaul involved reversing the fund's existing overwei...