David Bulteel

“‘December represented a further, welcome month of recovery by ‘risk-on’ assets. The main laggards were the defensively minded TR Global Bond. Cazenove European was equally lacklustre on a peer group basis but again the manager Chris Rice is well known for being cautiously minded. Schroder UK Alpha Plus also suffered a poor end to the year, capping-off a poor year for the manager, Richard Buxton. Nonetheless his high conviction approach does lend itself to the odd soft patch in relative performance and his long-term track record suggests that he will bounce back strongly.”