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In a piece entitled ‘Brexit One Year On’, CityWire highlight those fund managers that have ‘not just survived but thrived in the year since the referendum’ while the political consensus on Brexit continues to break down. The Deep Value Investment Fund (DVI), run by Jeroen Bos at Church House, has returned 31.37% in the year to 23rd June, putting it fifth in the UK All Companies Sector according to fund ratings agency, Lipper. The FTSE All-share returned 22% over the same period.
Although happy to be ranked among many illustrious names, DVI is not run to any benchmark but rather deploys a fundamental deep value approach to stock-picking. When the manager cannot find value, he is happy to sit in cash. “Patience is my most important tool”, says manager Bos. “I’ve got lots of stocks on my screen. But until they trade at what I consider to provide me with a sufficient margin of safety will I consider buying.” This, and his rigorous balance-sheet analysis, has produced spectacular results for Bos during the twenty years or more that he has run the fund and its offshore predecessor.
For more information on The Deep Value Investment Fund, click here.