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Trojan Global Equity Fund

The investment objective of the Fund is to seek to achieve capital growth over the long term (at least 5 years). The Fund must invest globally and at least 80% of its assets in equities and equity-related securities.

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

'O' Share Class Price 18/09/2020
Accumulation Shares
Income Shares
345.37p
Fund Size
£358m (31/08/20)

Past performance is not a guide to future performance.

August 2020

Your Fund returned +3.5% during the month compared to +4.6% for the MSCI World Index NR (£).

Monthly returns were once again driven by the Fund’s large investments across the internet, software and payments sectors. We have written extensively this year as to why we remain optimistic about these parts of the portfolio. We are equally committed to the Fund’s long-term investments in companies for which the pandemic has been less positive. One such example is Medtronic, the medical device manufacturer. The company reported quarterly earnings in August and the results revealed severe declines in revenues, profits and cashflows as deferred surgical procedures disrupted Medtronic’s sales. Beneath the surface, however, are encouraging signs of progress. Medtronic’s markets are recovering faster than many anticipated and the company is making moves to improve its competitive position.

 

Medtronic reported gains in market share for several of its largest businesses, driven by new product launches. There is more to come over the next few years as the company commercialises a rich pipeline of new devices. As the inventor of the world’s first wearable pacemaker in the 1950s, Medtronic has a proud heritage in biomedical engineering. Under new CEO Geoff Martha, the company is being reorganised to sharpen its commercial execution. Mr Martha summed it up as follows: ‘We’re playing offense and we’re energised to use this moment when our pipeline is kicking in to expand our markets and take share. And importantly, we’re driving towards faster and broader top-line growth, not just from the pandemic, but sustainable growth over the long term’. Given this brightening outlook, we see the Fund’s investment in Medtronic as an important source of strength, diversity and value for the portfolio.   

Source: Lipper, Link Fund Solutions Limited

 

Total Return 06/03/2006
Since Launch
31/08/2010
10 Years
31/08/2015
5 Years
31/08/2017
3 Years
31/08/2019
1 Year
29/02/2020
6 Months
Trojan Global Equity O Acc +323.6% +243.5% +104.9% +42.4% +7.5% +14.7%
IA Global TR +187.4% +176.5% +78.3% +24.3% +6.6% +11.2%
MSCI World NR GBP +229.3% +218.4% +88.6% +27.4% +6.2% +10.4%
Discrete Calendar Annual Returns (%) 2006 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Trojan Global Equity O Acc +20.2% -11.3% +18.4% +14.9% +6.2% +3.7% +14.4% +15.0% +12.3% +19.2% +13.2% +1.1% +24.6% +10.5%

Performance is calculated on a total return basis, net of fees, in sterling terms.

Source: Lipper, Link Fund Solutions Limited. Since Launch (06/03/2006) to 31 July 2020.

Source: Lipper, Link Fund Solutions Limited

 

Risk Analysis Since Launch (06/03/2006) Trojan Global Equity O Acc IA Global TR MSCI World NR GBP
Total Return +323.6% +187.4% +229.3%
Max Drawdown -33.3% -38.3% -38.3%
Best Month +9.4% +9.8% +10.1%
Worst Month -9.4% -12.9% -10.6%
Positive Months +62.4% +63.0% +63.6%
Annualised Volatility +11.5% +13.7% +13.5%

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 Fund %
Microsoft 8.0
PayPal 7.5
Alphabet 6.5
Facebook 5.7
Visa 5.3
Medtronic 5.3
American Express 4.2
Roche Holding 4.2
Novartis 4.1
Experian 3.6
Total Top 10 54.3
17 other holdings 40.2
Cash & Equivalent 5.5
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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How to Invest