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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 21/01/2021
Accumulation Shares
Income Shares
245.84p
Fund Size
£143m (31/12/20)

Past performance is not a guide to future performance.

November 2020

Your Fund returned +1.3% during the month compared to a return of +2.6% for the IA Flexible Investment (TR).

Whilst we are unlikely to look back on 2020 with particular fondness, it was a year in which global financial markets generated surprisingly robust results, helped by significant support from central banks and governments around the world.  Although most major equity markets delivered good returns in 2020, the headline numbers mask a significant spread in performance between COVID-winners and COVID-losers. 

This dispersion was evident in Spectrum’s underlying investments.  WCM Global Equity, for example, increased 38% since we initiated a holding in January and was the biggest contributor to Spectrum’s performance during the year.  WCM benefited from sizeable holdings in Shopify and MercadoLibre, both of which saw a strong acceleration in demand for their ecommerce platforms due to the pandemic. 

In contrast, Aurora Investment Trust, with exposure to a weak UK market and economically sensitive businesses, including airlines and housebuilders, fell -10% during the year.

2020 saw greater activity in the portfolio than normal, reflecting a desire to add more weight behind our highest conviction ideas.  We also took advantage of the market sell-off in late February and March to make new investments in Polar Capital Technology Trust and Berkshire Hathaway, as well as increase many of Spectrum’s existing holdings.  Thank you all for your continued support and I wish you a happy and healthy new year.

Source: Lipper, Link Fund Solutions Limited

 

Total Return 29/02/2008
Since Launch
31/12/2010
10 Years
31/12/2015
5 Years
31/12/2017
3 Years
31/12/2019
1 Year
30/06/2020
6 Months
Spectrum O Acc +157.5% +89.1% +57.3% +19.2% +5.8% +8.2%
Bank of England Base Rate +10.5% +4.9% +2.3% +1.6% +0.2% +0.1%
IA Flexible Investment TR +103.3% +81.8% +46.5% +14.9% +6.7% +11.3%
UK Retail Price Index +38.8% +28.5% +12.6% +5.5% +0.5% +0.3%
Discrete Calendar Annual Returns (%) 2008 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2020
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% 0.0%

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 December 2020.

Source: Lipper, Link Fund Solutions Limited

 

Risk Analysis Since Launch (29/02/2008) Spectrum O Acc IA Flexible Investment TR
Total Return +157.5% +103.3%
Max Drawdown -19.1% -33.4%
Best Month +8.4% +7.4%
Worst Month -11.5% -12.9%
Positive Months +63.6% +61.7%
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 11.6
Findlay Park American 10.5
Polar Capital Global Insurance 8.2
AMP Capital Global Equity 7.5
Samarang Asian Prosperity 6.5
Lindsell Train Global Equity 6.4
Gold Bullion Securities 5.5
Berkshire Hathaway 5.1
CG Portfolio Real Return 3.9
Total Top 10 77.3
8 other holdings 19.4
Cash 3.3
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.

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