HEAD-TO-HEAD: Brown Advisory and Pictet

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Conclusion

When being asked which fund he prefers, McDermott said “it is not an easy choice to make.”

“The team at Pictet are leaders in the thematic space and the long-term benefits of this fund are clear, particularly as megatrends like digital can grow so quickly – as we saw during Covid. The tailwinds behind this fund longer-term are tremendous,” he said.

Yet, he still favours the Brown Advisory fund given its strong performance in various market conditions.

“We particularly like the relentless focus on businesses which deliver ‘superior customer outcomes’, which appears repeatedly throughout this fund’s rigorous process. We also applaud the emphasis on high-quality, fundamental stock research.”

He also highlighted the managers’ willingness to analyse their own performance and mistakes and said their constant desire to improve is “a further positive”.

Morningstar ratings also favour the Brown Advisory fund over its Pictet counterpart, awarding the former with five stars, while the latter only got three.

The Brown Advisory fund also got a gold Morningstar quantitative rating, while the Pictet fund was ranked as neutral.

FE Fundinfo, which bases its assessment on a fund’s three-year history of delivering alpha, minimising relative volatility and producing consistent returns, awarded the Pictet fund one crown, while the crown rating for the Brown Advisory fund was not available.

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