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Spectrum Fund

The investment objective of the Spectrum Fund is to produce long-term capital growth. The Fund’s investment policy is to diversify investment predominantly in collective investment schemes, though the Fund may be invested in bonds, equities, cash and other eligible instruments from time to time. The Spectrum Fund may invest up to 100% of its assets in collective investment schemes. 

In addition to the O share class referred to on this page, I Classes are also available. Please contact us for more information.

'O' Share Class Price 16/10/2018
214.16p
Accumulation Shares
Income Shares
205.33p
Fund Size
£128M (30/09/18)

September 2018

Your Fund produced a return of -0.4% during the month compared to a return of -0.4% for the IA Flexible Investment TR.

Asian and emerging markets have had a torrid time of late, suffering from both declining equity and bond prices as well as depreciating currencies.  The Stewart Investors Asia Pacific Leaders Fund, a constituent of Spectrum, has navigated these more treacherous waters relatively well so far this year.  The fund is up +6.7% in 2018, compared with a fall of -4.3% for the MSCI AC Asia Pacific ex Japan Index.

One reason for the fund’s good performance is Stewart Investors’ high weighting to India, a market that has, until recently, withstood the headwinds better than most.  Although the Indian Rupee is now coming under greater pressure, the portfolio has also benefited from the strong returns of a number of its underlying holdings.  Tata Consultancy Services and Tech Mahindra, Indian IT service companies, have both risen more than +50% this year and are among Stewart Asia Pacific Leaders’ largest investments.

This year’s performance is no one-off.  The Asia Pacific Leaders Fund has typically recorded its best relative returns during periods of market stress, with 2008, 2011 and 2015 being prime examples.  This is unsurprising given Stewart Investors’ investment philosophy.  The team focus on good-quality businesses, with persistent and durable earnings, that are managed by capable stewards.  By emphasising such characteristics, Stewart Investors align themselves with people and businesses that have shown an ability to create wealth over the long term.  We believe this continues to be a sensible approach to investing in Asia’s more volatile equity markets.

Performance is calculated on a total return basis, net of fees, in sterling terms.

Source: Lipper, Link Fund Solutions Limited

The source of performance data has been changed.  This change may have resulted in variations from previously published performance figures.

Risk Analysis Since Launch (29/02/2008)Fund IA 
Total Return +124.1% +79.8%
Max drawdown* -12.9% -33.4%
Best Month +8.4% +7.2%
Worst Month -5.8% -12.9%
Positive Month +62.2% +61.4%
Annualised Volatility +8.7% +10.9%

*Measures the worst investment period

Performance is calculated on a total return basis, net of fees, in sterling terms.

 

Top 10 HoldingsFund (%)
Egerton Capital Equity  7.7
Findlay Park American 7.6
Polar Capital Global Insurance 6.1
Morant Wright Sakura Hedged 6.0
Odey Allegra Developed Mkts   5.6
Evenlode Income 5.3
Lindsell Train Global Equity  5.1
Lindsell Train Japanese Equity 4.5
Stewart Asia Pacific 4.4
Samarang Asian Prosperity  4.3
Total Top 10 56.6
13 other holdings 33.1
Cash & equivalent 10.3
Total 100.0
Past performance is not necessarily a guide to future performance. The value of a fund and any income from it may go down as well as up and investors may get back less than they invested. Changes in rates of exchange may cause the value of investments to go up or down. This data is provided for information only and should not be reproduced, published or disseminated in any manner. Although Troy considers the data to be reliable, no warranty is given as to its accuracy or completeness. Any comparisons against indices are for illustrative purposes only.

How to Invest

You may invest directly, via a broker or adviser, or through a number of online fund platforms.

Find Out More

Key Facts

  • Fund Manager
    Tom Yeowart
  • Inception Date
    29/02/2008
  • Currency
    £ Sterling
  • Available Share Class
    O & I
  • ISIN (O Class)
    GB00B2990B27 (Acc)
    GB00B2996V43 (Inc)
  • Bloomberg (O Class)
    CFTSPOA_LN (Acc)
    CFTSPOI_LN (Inc)
  • Sedol (O Class)
    B2990B2 (Acc)
    B2996V4 (Inc)

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