How this fund became the year’s top performer

SINGAPORE (Aug 12): Launched last January, the Wells Fargo (Lux) WF — US Select Equity fund is the top performer this year, buoyed by exposure to energy and gold.

Managed by 41-year veteran Richard T Weiss, the fund takes an unconstrained approach to market cap, analysing companies on a bottom- up basis to take advantage of relative mispricing.

As at end June, the fund held just 36 stocks. Technology accounted for 17.4% of its assets, while financials accounted for 14.4%. The fund also had an 11.5% weighting in energy, which is higher than its peers.

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