investing , helping to keep Baillie Gifford at the top of the charts for more than a decade . When value was in the ascendancy , it contributed to the glory years of Fidelity , M & G and Invesco . Gavin Haynes , investment consultant at Fairview Investing , says : “ Fidelity had its European and UK Special Situations funds . It had a star manager in Anthony Bolton , but one of the reasons he did so well was because value investing was in vogue . This also helped funds such as
M & G Recovery .” The other beneficiary of this period was Neil Woodford , helping cement
his reputation as a star .
What goes up … The subsequent trajectory of these funds would seem to augur badly for today ’ s growth managers . Neil Woodford ’ s history is well known , while M & G Recovery has also been a disaster , with Tom Dobell eventually bowing out in 2020 . Part of the problem is often that the most successful funds are at the extreme of any given investment style and therefore most vulnerable when the environment turns . Asset class specialism may also