Numis has removed Temple Bar from its investment companies recommended list after the appointment of RWC Partners as manager, preferring Alex Wright’s Fidelity Special Values.
September's decision from the board of the £484m Temple Bar to replace Ninety One with RWC's Nick Purves and Ian Lance was described by Numis analysts as "a brave one", suggesting the move to stick with the value style "will require time to see if it plays out". Purves and Lance, who worked together at Schroders before joining RWC in 2010, seek to exploit opportunities created by over-reactions by investors by investing in sustainable businesses with sound balance sheets that are trading at attractive valuations based on normalised earnings. Sanford DeLand pulls Buffettology Smaller C...
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