A senior investment professional, Job Curtis has managed The City of London Investment Trust since 1991.

He joined Touche Remnant in 1987, subsequently acquired by Henderson Global Investors, and has been head of Henderson's Value & Income investment team since 2003. Job is renowned for his highly successful, conservative investment approach, based on intensive analysis of the fundamentals of each stock, and strict control of risk. 

 

 

Fund Manager's Commentary - April 2012

The UK equity market, as measured by the FTSE 350 Index, fell by 0.6%. A disappointing UK gross domestic product (GDP) growth figure of -0.2% was announced for the first quarter of 2012. European economies were generally weak, but the US and emerging markets produced much better growth. City of London’s portfolio is biased towards companies that are operating in global markets rather than those focused on the UK. Two notable outperformers from the Trust’s top ten holdings were Diageo (alcoholic beverages) and Unilever (food producers). Both these companies are benefiting from exposure to fast-growing emerging markets.

No new holdings were bought, but significant additions were made to the holdings in J Sainsbury, the food retailer, and Merck, the US pharmaceutical company.