US equity markets have hit record highs in the year since Donald Trump's election as President on 8 November 2016, with the S&P 500 rising 16% in sterling terms, yet there has been a wide dispersion in fund performance over the period...Haig Bathgate, joint-CEO and CIO of TCAM, said domestic-facing small caps had benefitted from the US economy moving "substantially" ahead. He added: "Also, there are more inefficiencies as you go down the market-cap spectrum, so there tend to be more opportunities as there are stock specific variables."
Tcam has reported a 127% increase in profits in its first full year as an independent firm. In its accounts for the year ending 31 March 2017, filed at Companies House, the firm, managed by co-chief executives Alex Montgomery (pictured left) and Haig Bathgate (right), reported an increase in pre-tax profit from £743,000 in the previous year to £1.68 million. Montgomery told Wealth Manager that drivers behind the record profit increase include solid new business flows, as well as the creation of a separate identity since the 2015 management buyoutfrom law firm Turcan Connell Asset Management.
