Business cycle approach
Revenues well in excess of GDP with a high degree of uncertainty or volatility.
Grow revenues in excess of GDP with low volatility and high visibility.
Grow revenues at or below GDP with low volatility and high visibility.
Revenues depend on interest rate spreads, financial markets and asset valuations.
Revenues reliant on consumer spending.
Revenues linked either directly or indirectly to a commodity product.
Manufacturing capital goods or with revenues linked to industrial production.
Meet the manager
Fund Manager, European Equities
Steve joined Schroders following the acquisition of Cazenove Capital in July 2013, he has over 20 years of investment experience. He was a senior member of the pan-European equity team at Cazenove, having joined in 2002. Prior to Cazenove, he was at HSBC Asset Management (Europe) Ltd where he was responsible for several retail and institutional pan-European portfolios.
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The three funds using this distinct approach are:
Source for ratings: Morningstar, as at 31 July 2015. Steve Cordell holds an AAA Citywire rating, as at 31 July 2015.