Our website uses cookies and similar technologies. By continuing to use our site, you are agreeing to our use of cookies and similar technologies. For more detail click here to read our Privacy Notice.

Spectrum Fund

The investment objective of the Spectrum Fund is to seek to achieve capital growth over the longer term (5-7 years).

The Fund is a fund of funds and its investment policy is to invest at least 70% of the fund’s assets globally in collective investment schemes, which may be open-ended or closed-ended and/or other investment funds such as investment trusts.

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 14/05/2021
Accumulation Shares
Income Shares
254.38p
Fund Size
£144m (30/04/21)

Past performance is not a guide to future performance.

April 2021

Your Fund returned +6.0% during the month compared to a return of +3.3% for the IA Flexible Investment (TR).

During April, we initiated a holding in HC Snyder US All Cap Equity.  The fund is managed by Snyder Capital Management, which is a small employee-owned investment boutique based in San Francisco.  Founded in 1984, Snyder has quietly gone about creating an impressive track record by being long-term investors and having a collaborative and meritocratic culture where only the best ideas make their way into a concentrated portfolio of 20-30 holdings.

Snyder’s All Cap strategy is managed by a team of four experienced portfolio managers and invests across the market cap spectrum, including large-cap companies like Visa and Mastercard and smaller businesses such as Copart (salvage car auctions).  Underpinning all investments is a focus on quality.  Snyder are essentially looking for differentiated businesses with sustainable competitive advantages and the potential to compound cash flows at attractive rates over time. 

 

The companies they favour are typically cash generative, earn high returns on invested capital and have strong balance sheets.  Conversely, Snyder eschew capital-intensive businesses with less predictable revenues and cash flows.    

Snyder’s focus on durable cash compounding businesses, alongside a strong valuation discipline, has led to consistently superior returns versus the S&P 500 and Russell 3000 indices since the strategy’s inception in 2008.  The strong fundamental underpinnings of Snyder’s portfolio should continue to serve investors well.  Snyder has recently launched a UCITS-version of the strategy and Spectrum benefits from access to a founder share class with a reduced management fee of 0.35% into perpetuity.


 

 

Source: Lipper, Link Fund Solutions Limited

 

Total Return 29/02/2008
Since Launch
30/04/2011
10 Years
30/04/2016
5 Years
30/04/2018
3 Years
30/04/2020
1 Year
31/10/2020
6 Months
Spectrum O Acc +175.4% +106.9% +61.7% +28.9% +23.7% +14.2%
Bank of England Base Rate +10.5% +4.7% +2.1% +1.4% +0.1% 0.0%
IA Flexible Investment TR +114.9% +90.2% +54.6% +23.0% +24.6% +16.4%
UK Retail Price Index +40.4% +26.7% +13.6% +6.1% +1.5% +0.9%
Discrete Calendar Annual Returns (%) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Spectrum O Acc -3.0% +19.2% +17.8% -3.5% +6.4% +3.5% +7.4% +5.2% +19.6% +10.4% -3.3% +16.5% +5.8% +6.9%

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

Source: Lipper, Link Fund Solutions Limited. Since Launch (29/02/2008) to 30 April 2021.

Source: Lipper, Link Fund Solutions Limited

 

Risk Analysis Since Launch (29/02/2008) Spectrum O Acc IA Flexible Investment TR
Total Return +175.4% +114.9%
Max Drawdown -19.1% -33.4%
Best Month +8.4% +7.4%
Worst Month -11.5% -12.9%
Positive Months +63.3% +62.0%
Annualised Volatility +9.7% +11.2%

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

Maximum Drawdown measures the worst investment period

Annualised Volatility is measured by the annualised standard deviation of the monthly returns 

Source: Lipper, Link Fund Solutions Limited.  

Top 10 holdings (excluding government bonds) Fund %
Egerton Capital Equity 13.1
Findlay Park American 10.7
WCM Global Equity Fund 9.6
Polar Capital Global Insurance 8.9
AMP Capital Global Equity 7.1
Samarang Asian Prosperity 6.5
Lindsell Train Global Equity 6.4
Berkshire Hathaway 6.0
Pershing Square Holdings 5.5
HAL Trust 4.5
Total Top 10 78.3
9 other holdings 17.7
Cash 4.0
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. Returns may increase or decrease as a result of currency fluctuations​. 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.

How to Invest