Ninety-One Value Funds have been left in good hands

Commenting on the news that Alastair Mundy is stepping down from the management of Ninety-One’s UK Special Situations and Cautious Managed funds, Darius McDermott, managing director of FundCalibre, said:

“I’ve known Alastair for some 20 years or so. He’s a great guy and been a great investor – a true contrarian. It’s concerning to hear that he has had to step down for health reasons and I wish him a speedy recovery.

“In terms of his successors, we think the funds have been placed in good hands.

“Alessandro Dicorrado and Steve Woolley already run the Global Special Situations fund, which is on our Radar, and they have worked with Alastair and the value team for almost a decade. They have been running the global equity portion of Cautious Managed since 2016, and some of UK Special Situations stocks have overlapped with their own global portfolio.

“It’s a team-based approach, so there will be consistency of management style for investors, and the support of Mimi Ferrini, who led the Multi-Asset team for some time, will be a valuable resource for the Cautious Managed fund.

“We will keep an eye on flows, but given the size of the funds, any redemptions should be manageable.

“We are confident of their abilities and will move both funds to our Elite Radar.”

This article is provided for information only. The views of the author and any people quoted are their own and do not constitute financial advice. The content is not intended to be a personal recommendation to buy or sell any fund or trust, or to adopt a particular investment strategy. However, the knowledge that professional analysts have analysed a fund or trust in depth before assigning them a rating can be a valuable additional filter for anyone looking to make their own decisions. Past performance is not a reliable guide to future returns. Market and exchange-rate movements may cause the value of investments to go down as well as up. Yields will fluctuate and so income from investments is variable and not guaranteed. You may not get back the amount originally invested. Tax treatment depends of your individual circumstances and may be subject to change in the future. If you are unsure about the suitability of any investment you should seek professional advice. Whilst FundCalibre provides product information, guidance and fund research we cannot know which of these products or funds, if any, are suitable for your particular circumstances and must leave that judgement to you. Before you make any investment decision, make sure you’re comfortable and fully understand the risks. Further information can be found on Elite Rated funds by simply clicking on the name highlighted in the article.