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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 20/09/2018
222.02p
Accumulation Shares
Income Shares
212.87p
Fund Size
£129M (31/08/18)

August 2018

Your Fund produced a return of +0.5% during the month compared to a return of +0.3% for the IA Flexible Investment TR.

Lindsell Train Global Equity has been the standout performer for the Spectrum Fund so far this year.  The Global Equity Fund has risen +19% in 2018, continuing a strong run of performance since 2011, when we first invested.

Although the impressive share price appreciation of World Wrestling Entertainment, Shiseido and Paypal have underpinned the fund’s returns over the last 18 months or so, the majority of the portfolio’s holdings have done well.  This includes large holdings like Intuit, which is up +40% this year, but also smaller ones such as Juventus, which has climbed more than +60% in 2018.

The fact that the Global Equity Fund’s returns have come from such a broad base increased the probability that performance, relative to global equity markets, may be more subdued at some point in the future.  Many of the underlying constituents have become more highly rated, with the market better recognising the quality of the companies and brands represented in the portfolio.

Nevertheless, Lindsell Train argues that investors continue to underestimate the compounding power of such franchises.  The portfolio consists of a collection of assets that are well placed to overcome the challenges and benefit from the digitisation of the global economy.  These companies should be able to continue to generate significant levels of free cash flow, earn high returns on capital and reward truly long-term investors.

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 +125.1% +80.5%
Max drawdown* -12.9% -33.4%
Best Month +8.4% +7.2%
Worst Month -5.8% -12.9%
Positive Month +62.7% +61.9%
Annualised Volatility +8.7% +11.0%

*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  7.8
Findlay Park American 7.6
Morant Wright Sakura Hedged 6.1
Polar Capital Global Insurance 5.8
Odey Allegra Developed Mkts   5.7
Evenlode Income 5.4
Lindsell Train Global Equity  5.1
Stewart Asia Pacific 4.5
Lindsell Train Japanese Equity 4.4
Samarang Asian Prosperity  4.2
Total Top 10 56.6
13 other holdings 33.5
Cash & equivalent 9.9
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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