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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 23/01/2017
198.23p
Accumulation Shares
Income Shares
192.32p
Fund Size
£106M

December 2016

Your Fund returned +1.8% during the month compared to +3.5% for the MSCI World Index (£).

Despite being a year of twists and turns, 2016 proved to be a surprisingly good one for many sterling-based investors, not least because of the currency’s weakness in the aftermath of the Brexit vote.  With significant exposure to overseas markets and currencies, Spectrum was a beneficiary.  Amongst the Fund’s top performers in 2016 were Polar Capital Global Insurance, which rose 35%, and Stewart Investors Global Emerging Markets Best Ideas, which increased by 32%.  Conversely, and despite a 20% rally in the fourth quarter, the sterling-hedged Morant Wright Sakura fund, which invests in Japanese equities, posted a small negative return of -2% (Source: Bloomberg).

Your Fund’s holdings of Gold Bullion Securities and BlackRock Gold & General also performed well in 2016, climbing 30% and 80% respectively in sterling terms.  Although gold lost some of its lustre in the second half of the year, it remains a core component of the Spectrum Fund.  With increasing political uncertainty, elevated equity valuations and the potential for higher inflation, we believe gold remains a valuable diversifier for the portfolio.

The one meaningful change to Spectrum during 2016 was the addition of the Aurora Investment Trust.  First purchased in January 2016, we have since added to the holding, most recently in December.  It remains a relatively small constituent within Spectrum but one that we plan to increase as Aurora continues to grow.

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

Source: Lipper, Capita Asset Services

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 +95.8% +58.8% +134.1%
Max drawdown* -12.9% -33.5% -37.4%
Best Month +8.4% +7.3% +10.2%
Worst Month -5.8% -12.9% -10.6%
Positive Month +62.9% +61.0% +64.8%
Annualised Volatility +9.0% +11.8% +15.0%

*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  7.1
Morant Wright Sakura Hedged 6.3
Findlay Park American 5.7
Yacktman US Equity  5.6
Evenlode Income  5.5
Polar Capital Global Insurance 5.5
 CG Portfolio Real Return  5.2
Odey Allegra Developed Mkts  4.9
Lindsell Train Global Equity 4.5
Lindsell Train Japanese Equity  4.4
Total Top 10 54.7
13 other holdings 39.4
Cash & equivalent 5.9
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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