Trojan Ethical Fund

The investment objective of the Trojan Ethical Fund is to provide capital growth (net of fees), ahead of inflation (UK Retail Prices Index), over the longer term (5 to 7 years).  The Trojan Ethical Fund is a multi-asset fund which seeks to deliver a similar profile of returns to the Trojan Fund.  The Fund’s asset allocation will be broadly in line with that of the Trojan Fund but assets will be invested subject to ethical exclusion criteria. 

In addition to the O share class referred to on this page, S Classes are also available. Please contact us for more information.

The Trojan Ethical Fund was launched on the 22nd March 2019.

The Fund will be managed by Charlotte Yonge, who has worked closely with Sebastian Lyon for several years and is Assistant Fund Manager on the Trojan Fund.

The Trojan Ethical Fund is a multi-asset fund which seeks to deliver a similar profile of returns to the Trojan Fund.  The Fund’s asset allocation will be broadly in line with that of the Trojan Fund but assets will be invested subject to ethical investment criteria. 

Our approach is conservative, with attention paid, first and foremost, to the downside risk of any investment. Only once we are satisfied that we understand the risk to which we are exposing our investors’ capital do we analyse the potential rewards of the investment. We regard risk as permanent loss of an investor’s capital rather than performance relative to a particular benchmark.

The Fund employs a long-term, long-only approach and has the flexibility to invest across a broad range of asset classes. Whilst asset allocation will vary, in general, the investment universe will comprise high quality, developed market equities, developed market government bonds, gold-related investments, cash and money market instruments (such as treasury bills). We judge the safety and attractiveness of asset classes not just relative to each other, but also relative to their own histories. When allocating the Fund’s assets we incorporate valuation measures, our own inflation expectations, and our understanding of monetary and fiscal conditions into our decision-making process from both a top-down perspective (looking at an economy as a whole) and a stock-specific perspective.  

The Trojan Ethical Fund will adhere to the following ethical exclusion criteria. 

Equities

The present ethical investment criteria mean that the Fund will not invest in any organisation which:

Alcohol – derives more than 10% of its total turnover from the sale or production of alcohol.

Armaments – (a) generates more than 10% of its total turnover from strategic military supplies relating to conventional weapons and/or (b) produces key parts of, or provides services for, cluster munitions systems, and/or (c) is alleged to have contravened the convention on anti-personnel mines in the last ten years and which has not addressed the allegations, and/or (d) manufactures products, or provides services, which are all or part of a nuclear weapons system.

Fossil Fuels – (a) derives more than 33% of its total turnover from the refining or extraction of, or generation of power from, fossil fuels and/ or (b) derives more than 10% of its turnover from coal mining activities. Companies whose listing falls within Oil & Gas sector are also excluded.

Gambling – derives more than 10% of its total turnover from gambling (including spread betting).

High Interest Rate Lending – derives more than 25% of its total turnover from high interest rate lending (high interest being defined as lending at an annual percentage rate (APR) of over 100%).

Pornography – derives more than 3% of its total turnover from pornography or adult entertainment.

Tobacco – makes more than 10% of its total turnover from tobacco products.
 

Government and Public Securities

Investment in government debt is limited to that issued by Canada, France, Germany, Italy, Japan, the UK and the US (commonly known as the “G7”). The Fund will not invest in the securities of any sovereign issuer which is subject to a sanction issued by either the United Nations or the European Union. The Investment Manager would only consider investing more than 35% of the Fund’s assets in UK or US government issued transferable securities or approved money market instruments.

Gold Related Investments

The Fund will seek to minimise exposure to gold mined prior to 2012, which is the date after which it can be ascertained that gold has been sourced in compliance with the London Bullion Market Association’s Responsible Gold Guidance.

 

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. 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. In line with the Fund’s prospectus, the Fund is authorised to invest in transferable securities and money market instruments issued or guaranteed by an EEA state, one or more local authorities, a third country, or a public international body to which one or more EEA states belong.  The Investment Manager would only consider investing more than 35% of the Fund’s assets in UK or US government issued transferable securities or approved money market instruments. 

 

 

How to Invest

You may invest directly, via a broker or adviser, or through a number of online fund platforms.

How to Invest