He told The Sunday Telegraph the success of both funds proved...

He told The Sunday Telegraph the success of both funds proved shareholders in stocks that were currently under takeover should, in most cases, hang in there for greater returns.

Mr Elliott also suggested that -- again, in most cases -- it wasn't too late for those who had missed the boat.

"With companies that are being taken over, it's always best to hang on, because there's a 35 to 40 per cent chance that you'll get a higher bid -- and it's always worth waiting to see,'' he said.