"We had anticipated that growth was going to be a more important aspect for clients than it had been, and this new share class is very much at the behest of clients. They like the fund, and are getting nothing on the cash they’ve got in the bank, but wanted the option of an income class," said Mitchell.
Mitchell has averaged annual returns of 7.5 per cent over 4.5 years, according to Financial Express data. Over three years he has outperformed peers with slightly more risk, the data suggests.
Mitchell vs peers, over 3-yrs
Source: Financial Express Analytics
The UK Special Situations fund is currently weighted towards oil & gas, industrials and financials as its top three sectors. Imperial Tobacco accounts for 4.5 per cent of the portfolio as the top single holding. The focus on heavyweight FTSE constituents such as HSBC and BP have not held back the performance against the sector average.
Fund vs sector, over 3-yrs
Source: Financial Express Analytics
Earlier this year Mitchell told Trustnet in an interview that he expected dividends to retake their position as drivers of total return.
He said companies to look for as a stockpicker included those with exposure to faster growing emerging markets, and those with strong balance sheets. He also said he did not expect a double dip recession to occur.