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 01/01/0001
Accumulation Shares
Income Shares
0p
Fund Size
£145m (30/04/22)

Past performance is not a guide to future performance.

March 2022

Your Fund returned +4.5% during the month compared to a return of +3.0% for the IA Flexible Investment (TR).

We are proposing to merge the Spectrum Fund into the Trojan Global Equity Fund.  Spectrum was launched in 2008 but despite delivering solid results has always struggled to attract new capital.  Unfortunately, steady outflows over the last couple of years, and a recognition that this trend is likely to continue, has prompted this decision. 

An extraordinary general meeting will be held on 22nd April and, if approved, Spectrum will be merged into Trojan Global Equity Fund, which also invests globally, on 14th May.  Troy will cover the rebalancing costs and any ancillary costs associated with the merger.  We cannot provide tax advice.  However, based on our understanding of UK tax legislation and the tax clearances that have been obtained, the merger should not involve a disposal of shares for UK capital gains tax purposes.  Further information is available in the circular which has been sent to shareholders.

It has been a pleasure to get to know many of you over the eight years that I have managed Spectrum Fund and I would like to thank you for your support and the trust you have placed in me.  I am remaining at Troy and looking forward to taking up a new role in research.  Whilst it is disappointing Spectrum is closing, I have every confidence that Gabrielle Boyle and George Viney, managers of Trojan Global Equity Fund, can continue to deliver attractive risk-adjusted returns for their investors.  Here is the fund’s latest newsletter, for those interested in learning more.

 

Source: Lipper, Link Fund Solutions Limited

 

Total Return 29/02/2008
Since Launch
30/04/2012
10 Years
30/04/2017
5 Years
30/04/2019
3 Years
30/04/2021
1 Year
31/10/2021
6 Months
Spectrum O Acc +183.4% +110.1% +39.1% +23.6% +2.9% -2.9%
Bank of England Base Rate +10.8% +4.4% +2.0% +1.0% +0.2% +0.2%
IA Flexible Investment TR +113.9% +97.5% +29.4% +18.5% -0.4% -4.3%
UK Retail Price Index +53.0% +33.4% +19.5% +12.2% +7.4% +3.7%
Discrete Calendar Annual Returns (%) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
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% +15.3% -4.6%

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 31 March 2022.

Source: Lipper, Link Fund Solutions Limited

 

Risk Analysis Since Launch (29/02/2008) Spectrum O Acc IA Flexible Investment TR
Total Return +183.4% +113.9%
Max Drawdown -19.1% -33.4%
Best Month +8.4% +7.4%
Worst Month -11.5% -12.9%
Positive Months +62.9% +61.2%
Annualised Volatility +9.7% +11.0%

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 14.0
Findlay Park American 13.4
Polar Capital Global Insurance 11.3
NZS Capital (Jupiter) Global Equity 9.3
Fiera Atlas Global 8.1
Samarang Asian Prosperity 7.2
WCM Global Equity 6.8
Gold Bullion Securities 5.4
HC Snyder US All Cap Equity 4.6
Franco-Nevada 3.8
Total Top 10 84.0
3 other holdings 4.1
Cash 11.9
Total 100.0

Proposed scheme of arrangement for the Merger of the Spectrum Fund, into the Trojan Global Equity Fund, both sub-funds of Trojan Investment Funds.

Click here to download the Circular.

Click here to download the EGM minutes showing shareholder approval

 

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

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