Richard Watts, Merian UK Mid Cap.
We have invested in Merian UK Mid Cap for nearly two decades, and under Richard Watts’ guidance since he took charge in December 2008. Since then, his track record has been exceptional, returning 395.92% compared to 134.38% for the IA UK All Companies sector average.
The fund focuses on medium-sized companies exhibiting structural drivers of growth and superior returns to the FTSE 250 index in general. For example, Watts prefers online retailers like ASOS over those that require footfall and are burdened with the high cost of physical property.
The fund’s performance was hit during the Covid-19 related sell-off, as were other funds with a lot of UK domestic exposure.