ALF has been through rougher patches than this, and we must keep...

ALF has been through rougher patches than this, and we must keep in mind that this is a fairly market neutral fund.

It is quite easy to eye off the returns being generated by the bull markets of the past few months, but to be honest ALF is a much safer bet.

FWIW I sold off half my ALF today for quite a loss to buy into MK1, EMC and ELX. I think the small to mid caps have been oversold and even though I lost a bit on ALF, the returns will come faster from some direct investments.

The only certainty in the markets at the moment is that whatever trades we make, we need to make them with conviction, for the long term. Shorting and day trading are increasingly taking hold of financial markets, but the benefit of a fund like ALF is that they take care of this aspect for us, but they won't get it right all the time.