Inglis-Jones and West escape the distractions of market
'noise' in the UK's south-west
The dislocations of 2008 seem to have vindicated the
decision of Liontrust European managers Gary West and James
Inglis-Jones to base themselves in Devon, in the south-west of
the UK, away from the market 'noise'.
Gary West and James Inglis-Jones
Ensconced on opposite sides of the Tamar estuary, the pair rely
on their labour-intensive and numbers-based investment process
- believing that their time is more profitably spent ploughing
through company accounts than perusing broker research or
meeting company managers.
During 2008 the fund was one of Europe's better long/short
equity performers - gaining 11.33% in a brutal year for most
equity strategies after a very strong return of 27.99% in 2007.
The approach is based on the premise that company managers are
generally poor forecasters - and that an over-optimistic
outlook can frequently lead to misallocation of