Press Releases

08 May 2007
EEA Fund Management Ltd - CF EPIC UK Equity Fund tops up larger company exposure as mid caps look overpriced.

Assets Under Management hit £50m in top performing UK fund.

The strong performance in the EEA Fund Management CF EPIC UK Equity Fund, which has just topped £50m assets under management, has been bolstered by its recent downgrade in exposure to over-priced mid-cap stocks and shift in focus towards larger companies.

Managers Simon Shaw and Jonathan Fieldsend believe that the bigger stocks in the FTSE have a much more attractive rating than the mid cap section of the market, which they say appears overvalued. On the back of this belief, Jonathan has increased his holdings in GlaxoSmithKline and Pearson.

Elsewhere within the portfolio, Jonathan has witnessed good share price appreciation in Broker Network, which released a statement announcing that trading is continuing to beat market expectations. Schroders’ shares also rose as strong figures were digested and higher market levels are good for fund management companies.

Jonathan Fieldsend, Fund Manager of the EPIC UK Equity and EPIC Insurance & General Fund said:

“Looking forward, we expect continued progress in the UK equity market although now we are favouring some of the bigger stocks in the FTSE as the rating of some of the mid cap sections of the market looks a bit too high to us.

“The markets have changed significantly since 2004, a time in which the market was still recovering from the shake out of the tech boom and confidence was low. But this period proved an excellent time to invest in the UK stock market and since then, thanks to new investors, the performance of the fund and the general rise in the market, the CF EPIC UK Equity Fund has gone from strength to strength.”

The EPIC UK Equity Fund has returned 81.5% to investors over the last three years, compared with a sector average of 64.6% in the IMA UK All Companies Sector, and has recently passed through the all important £50m of assets under management. (4th May 07)