July 2020 may have been the worst or at least the most unpopular month in recent times to launch a fund, but that hasn’t hurt Evenlode Global Equity so far. The third strategy to come out of the Cotswolds-based boutique – confirmed in this Wealth Show podcast as being named after an Oxfordshire river, rather than a pub – has had a solid start to life. Growing to £340m of assets at the turn of the year, it has outperformed the global market – even if only just – a feat achieved by few other active funds.
Fund manager Chris Elliott explained why the new strategy has done better than the established £1.9bn Evenlode Global Income fund, which he has also worked on since launch. Especially during a period which, until the Magnificent Seven’s fireworks last year, has broadly been more favourable for cheaper ‘value’ stocks and dividend-paying shares. Elliott said the Global Equity fund, which he co-manages with newer hire James Knoedler, had outperformed in rising markets in 2021 and last year. Conversely, the Global Income fund held up better in sharply falling markets in 2022.
