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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 21/09/2021
Accumulation Shares
Income Shares
268.55p
Fund Size
£143m (31/08/21)

Past performance is not a guide to future performance.

August 2021

Your Fund returned +3.0% during the month compared to a return of +2.2% for the IA Flexible Investment (TR).

Spectrum has invested in the Polar Capital Global Insurance Fund for over a decade.  Since initiating our holding, the Global Insurance Fund has delivered compelling compound returns of +13.5% per annum, outperforming the MSCI World (£) in the process.  It has achieved these results in a steady manner, without too much volatility and excitement.  That is until last year when COVID struck and concerns arose that insurers would be forced to pay for business interruption, event cancellation and other losses.  These fears weighed heavily on insurers’ share prices.

Those concerns now appear overblown.  The insurance industry is benefiting from a strong underwriting environment and a firming of prices across the board.

More business is being written and on more attractive terms.  Higher interest rates, should they come to pass, will also benefit insurance companies by allowing them to generate better investment returns. 

As a result, the specialty commercial insurers that the Global Insurance Fund favours offer a combination of attractive valuations and improving fundamentals.  Indeed, Nick Martin, the fund’s manager, is confident that, in aggregate, his portfolio can grow its book value at a low double-digit annual rate over the next couple of years.  Even if insurance company valuations do not expand, long-term and patient investors should be richly rewarded.  For those interested in learning more, we recently recorded a podcast with Nick Martin (click here).


 

Source: Lipper, Link Fund Solutions Limited

 

Total Return 29/02/2008
Since Launch
31/08/2011
10 Years
31/08/2016
5 Years
31/08/2018
3 Years
31/08/2020
1 Year
28/02/2021
6 Months
Spectrum O Acc +186.2% +113.8% +51.0% +27.1% +16.9% +14.3%
Bank of England Base Rate +10.6% +4.6% +2.0% +1.3% +0.1% +0.1%
IA Flexible Investment TR +124.1% +116.6% +46.9% +24.1% +19.4% +9.5%
UK Retail Price Index +44.5% +29.4% +15.5% +7.5% +4.2% +3.2%
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% +11.1%

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 July 2021.

Source: Lipper, Link Fund Solutions Limited

 

Risk Analysis Since Launch (29/02/2008) Spectrum O Acc IA Flexible Investment TR
Total Return +186.2% +124.1%
Max Drawdown -19.1% -33.4%
Best Month +8.4% +7.4%
Worst Month -11.5% -12.9%
Positive Months +63.6% +62.3%
Annualised Volatility +9.6% +11.1%

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 13.8
Findlay Park American 9.9
Polar Capital Global Insurance 8.9
WCM Global Equity 7.9
Columbus Point Global Equity 7.6
AMP Capital Global Equity 7.5
Jupiter Global Equity Growth 6.3
Samarang Asian Prosperity 6.2
Pershing Square Holdings 5.6
HAL Trust 4.6
Total Top 10 78.2
9 other holdings 20.9
Cash & Equivalent 0.9
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. 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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