Dan Whitestone was appointed sole portfolio manager of BlackRock Throgmorton Trust (THRG) in February 2018 after taking over from the veteran Mike Prentis. He is head of the UK Emerging Companies desk and co-head of the broader UK equities team at BlackRock. In addition to this fund he has managed a successful hedge fund since March 2015.
The investment focus is across the full gamut of UK mid and smaller companies (including those listed on Aim) with the flexibility to also invest up to 15% overseas with the aim of providing long term total returns. The investment process focuses on identifying companies with high quality management, strong market positions, good cash generation and robust balance sheets. The long term and underappreciated sustainability of these companies' returns are enabled via enhanced pricing power driven by strong brands, intellectual property and high barriers to entry.
An interesting and relatively unique area of differentiation from peers is that through meeting with over 750 companies a year Whitestone has the ability to both go long good quality growth companies and short those whose business model is significantly impaired through company specific factors, or by dint of being in structurally challenged areas of the economy. The shorting element is modest overall but given Whitestone’s hedge fund experience he is uniquely placed to make use of this additional string to his bow.
BlackRock Throgmorton Trust has successfully navigated into a new era under the sole management of the impressive Dan Whitestone, which has resulted in an upgrade of its Morningstar Analyst Rating to Bronze, from Neutral.