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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 02/04/2020
Accumulation Shares
Income Shares
196.07p
Fund Size
£133M (29/02/20)

Past performance is not a guide to future performance.

February 2020

Your Fund returned -3.6% during the month compared to a return of -4.5% for the IA Flexible Investment (TR).

Having started the month strongly, global equities sold off aggressively in the last week of February on growing fears of a pandemic.  Whilst central banks will do their upmost to support markets, they are in uncharted territory and have little control over what happens next.  If COVID-19 continues to spread, as seems likely, investor sentiment is unlikely to improve anytime soon.  Indeed, it could get worse if people’s fears are stoked by social media.  Ultimately, it is difficult to predict how damaging the virus will be to the global economy.  Much depends on the speed it spreads, as well as the actions of governments, companies and consumers.

As briefly highlighted in last month’s factsheet, we do not try to predict the future of such things, but do aim to have portfolios that are resilient to unpredictable events.  In Spectrum’s case, this involves partnering with outstanding people who are adaptable, and have track records of delivering good returns in a range of different market environments.

Having ample liquidity in the portfolio also allows us to act if opportunities arise.  We added to a number of Spectrum’s underlying holdings on the last day of the month, and initiated a new holding in Berkshire Hathaway.  Berkshire’s shares may continue to fall but we believe that we bought them at a price that is likely to reward long-term investors.  With a sizeable cash reserve to draw on, Berkshire is also particularly well placed to weather any coming storm and emerge stronger from it. 

Source: Lipper, Link Fund Solutions Limited

 

Total Return 29/02/2008
Since Launch
28/02/2010
10 Years
28/02/2015
5 Years
28/02/2017
3 Years
28/02/2019
1 Year
31/08/2019
6 Months
Spectrum O Acc +135.3% +101.2% +46.1% +15.7% +7.0% -1.9%
Bank of England Base Rate +10.4% +5.2% +2.6% +1.7% +0.8% +0.4%
IA Flexible Investment TR +81.0% +85.4% +28.0% +10.3% +4.5% -1.7%
UK Retail Price Index +37.5% +32.6% +13.2% +8.3% +2.0% -0.4%
Discrete Calendar Annual Returns (%) 2008 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Spectrum O Acc -3.0% +17.8% -3.5% +6.4% +3.5% +7.4% +5.2% +19.6% +10.4% -3.3% +16.5% -3.3%

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 29 February 2020.

Source: Lipper, Link Fund Solutions Limited

 

Risk Analysis Since Launch (29/02/2008) Spectrum O Acc IA Flexible Investment TR
Total Return +135.3% +81.0%
Max Drawdown -12.9% -33.4%
Best Month +8.4% +7.2%
Worst Month -5.8% -12.9%
Positive Months +62.5% +61.1%
Annualised Volatility +8.8% +10.8%

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 standard deviation of annual returns. 

Source: Lipper, Link Fund Solutions Limited.  

Top 10 holdings (excluding government bonds) Fund %
Egerton Capital Equity 10.2
Findlay Park American 8.8
Polar Capital Global Insurance 8.5
WCM Global Equity Fund 7.5
Gold Bullion Securities 6.8
Lindsell Train Global Equity 5.4
Evenlode Income 5.0
Samarang Asian Prosperity 4.9
Yacktman US Equity 4.3
CG Portfolio Real Return 4.1
Total Top 10 65.5
11 other holdings 26.5
Cash & Equivalent 8.0
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