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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 18/01/2018
217.72p
Accumulation Shares
Income Shares
210.07p
Fund Size
£119M (31/12/17)

December 2017

The Fund produced a return of -0.1% during the month compared to a return of +1.4% for the MSCI World Index NR (£).

2017 was another good year for equity markets.  In general, equities made smooth progress throughout the year with very few bumps along the way.  Indeed, for the first time in its history, the S&P 500 Total Return Index posted positive returns in every single month.

Such a benign backdrop proved supportive for Spectrum’s equity fund holdings, the majority of which delivered strong absolute returns during 2017.  The positive performance came from a broad geographical base.  For instance, Lindsell Train Japanese Equity rose +27%, Odey Allegra Developed Markets +23% and the Somerset Emerging Market Dividend Growth Fund +22% in sterling terms (Source: Bloomberg).

Conversely it was Spectrum’s non-equity holdings that acted as a drag on the Fund’s performance, especially the CG Real Return and Dollar Funds, which were in negative territory for the year.  Both funds have a high weighting to US Treasury Inflation Protected Securities and were held back by rising US interest rates, subdued inflation expectations and a weaker dollar.

Many commentators expect ‘more of the same’ for 2018, predicting that equity market volatility will remain low.  That may prove to be the case.  However, with equity valuations at relatively extended levels, we believe that Spectrum’s non-equity holdings still have an important role to play.


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 MSCI 
Total Return +116.1% +76.9% +161.7%
Max drawdown* -12.9% -33.5% -37.4%
Best Month +8.4% +7.2% +10.1%
Worst Month -5.8% -12.9% -10.6%
Positive Month +63.6% +61.9% +64.4%
Annualised Volatility +8.9% +11.2% +13.8%

*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  7.5
Morant Wright Sakura Hedged 6.9
Findlay Park American 5.7
Evenlode Income  5.5
Polar Capital Global Insurance 5.5
Lindsell Train Global Equity  5.0
Odey Allegra Developed Mkts   4.8
Samarang Asian Prosperity  4.6
Yacktman US Equity  4.5
Lindsell Train Japanese Equity 4.4
Total Top 10 54.4
12 other holdings 35.8
Cash & equivalent 9.8
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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