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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 invest in underlying assets. Any comparisons against indices are for illustrative purposes only.

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 25/02/2021
Accumulation Shares
Income Shares
Fund Size
£141m (31/01/21)

Past performance is not a guide to future performance.

January 2021

Your Fund returned -2.0% during the month compared to a return of -0.0% for the IA Flexible Investment (TR).

We added AMP Capital Global Companies to the portfolio in April last year.  The fund was established in 2017 and offers a concentrated portfolio of high-quality global businesses.  Whilst the fund is relatively new, its manager, Simon Steele, has a good long-term track record.  He joined AMP Capital, a large Australian asset manager, in 2016 with a brief to create a global equity franchise.  With a completely blank canvas, Simon has developed a strategy that is truly active, long-term in its focus and completely unconstrained.  He invests in a collection of 25-30 outstanding companies, preferring businesses that have strong competitive advantages, long runways for growth, and management that allocate capital constructively.  These companies typically generate high returns on invested capital and have sustainable and growing cash flows.  They also tend to be resilient, benefiting from robust balance sheets and non-cyclical earnings.

Although AMP Capital is a large organisation, the global equities team operate as if they were a small boutique.  The Global Companies fund is managed by a dedicated team of four senior investors, whose interests are well-aligned with those of their clients.

As an early investor in the fund, Spectrum has access to a founder share class with an attractive management fee.  We believe that the combination of a good manager and low fees should result in compelling compounding of returns over time.


Source: Lipper, Link Fund Solutions Limited


Total Return 29/02/2008
Since Launch
10 Years
5 Years
3 Years
1 Year
6 Months
Spectrum O Acc +152.4% +91.1% +59.6% +16.9% +3.4% +5.3%
Bank of England Base Rate +10.5% +4.8% +2.2% +1.5% +0.2% +0.1%
IA Flexible Investment TR +103.1% +83.7% +52.4% +14.3% +7.0% +10.9%
UK Retail Price Index +39.7% +29.0% +14.1% +7.0% +1.7% +0.4%
Discrete Calendar Annual Returns (%) 2008 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Spectrum O Acc -3.0% -3.5% +6.4% +3.5% +7.4% +5.2% +19.6% +10.4% -3.3% +16.5% +5.8% -2.0%

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 January 2021.

Source: Lipper, Link Fund Solutions Limited


Risk Analysis Since Launch (29/02/2008) Spectrum O Acc IA Flexible Investment TR
Total Return +152.4% +103.1%
Max Drawdown -19.1% -33.4%
Best Month +8.4% +7.3%
Worst Month -11.5% -12.9%
Positive Months +63.2% +61.3%
Annualised Volatility +9.6% +11.3%

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 12.1
WCM Global Equity Fund 11.7
Findlay Park American 10.6
Polar Capital Global Insurance 8.0
AMP Capital Global Equity 7.5
Samarang Asian Prosperity 6.5
Lindsell Train Global Equity 6.4
Gold Bullion Securities 5.5
Berkshire Hathaway 5.2
Pershing Square Holdings 4.8
Total Top 10 78.3
8 other holdings 20.3
Cash 1.4
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