Andrew Vaughan has ditched a trio of holdings held by his predecessor Rosemary Banyard in the £7m Free Spirit fund, since assuming control of the portfolio last year.
In December, Sanford DeLand Asset Management confirmed Vaughan as manager of the fund following Banyard's departure, as reported in April. "Dunelm and Chemring went out on my revised interpretation of business perspective investing," he explained. This is the investment approach adopted by Sanford DeLand across its funds, including the £1.4bn Buffettology fund run by Keith Ashworth-Lord, and is about "owning businesses where we think the performance is going to be predictable with a very high degree of certainty". Waverton's Frikkee: Spotting the blips and buying the dips Defenc...
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