Horner qualified as a Chartered Accountant in 1984 at Touche Ross, where he also worked in insolvency. In 1986 he moved to 3i plc where he gained experience in a range of activities from fundraising through to advising on the sale of companies, in both the quoted and unquoted sector. In 1993 he joined Strand Partners where he was involved in identifying, structuring, negotiating and making investments in the 'Micro-Cap' quoted sector. In 1998 he left to set up Chelverton Asset Management Limited.
David Horner has 7.5 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.91%.
During the worst period of relative performance (from June 1999 - March 2000) there was a decline of 36% relative to the index. The worst absolute loss has been 38%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is more than 99%.
|Periods of worst performance
(April 2002 - February 2003)
(June 1999 - March 2000)