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Trojan Global Equity Fund

The investment objective of the Trojan Global Equity Fund is to provide capital growth over the longer term. The investment policy is to invest substantially in UK and overseas equities but the Fund may also invest in collective investment schemes and money market instruments. 

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 19/06/2019
Accumulation Shares
Income Shares
309.12p
Fund Size
£261M (31/05/19)

Past performance is not a guide to future performance.

May 2019

Your Fund returned +1.4% during the month compared to -2.5% for the MSCI World Index NR (£).

Returns for the Fund were driven by investments in healthcare and consumer staples companies, modestly offset by certain technology holdings.

The month was an unusually busy one for seeing companies, including 18 held in the Fund that represent just over half of the portfolio’s assets. These interactions were a mixture of hosting management teams at our offices, visiting them at theirs and attending investor days and industry conferences. Across the team, we made four separate trips to the US, meeting companies in Silicon Valley, Miami, New York and Boston; companies involved in payments, industrials, technology, healthcare and consumer goods.

Many investors prefer to do their job almost exclusively from their desks and believe meeting management is a distraction from focussing strictly on financial analysis. We take a different view, seeing the exercise as an important way to gain a greater understanding of industries and individual companies, something that ultimately informs the high conviction in the Fund’s investments. In a world of rapid digital change and quantitative trading strategies, it is more important than ever to keep an open mind and take a long-term view of the things that cannot easily be measured. We seek managers that are alert to the change happening around them and who shape their organisations to stay relevant to consumers and employees. Only by engaging deeply and continuously with companies can we understand their personality and motivations, and hope to have our interests respected as long-term shareholders.

Source: Lipper, Link Fund Solutions Limited

The source for performance data has been changed. This change may have resulted in variations from previously published performance figures. These variations are deemed to be immaterial both individually and cumulatively.

Total Return to 31 May 2019 06/03/06
Since Launch
31/05/09
10 Years
31/05/14
5 Years
31/05/16
3 Years
31/05/18
1 Year
30/11/18
6 Months
Trojan Global Equity Fund O Acc +259.7% +251.0% +97.1% +54.6% +17.2% +9.3%
LIBID* GBP 1 Month +21.3% +4.1% +1.8% +1.0% +0.6% +0.3%
IA Global (TR) +151.8% +189.5% +64.2% +46.3% +2.8% +4.0%
MSCI World Index (NR) GBP +185.5% +230.7% +75.0% +49.6% +5.3% +2.6%

* London Inter Bank Bid Rate

Discrete Calendar Annual Returns (%) 2006* 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018  2019
YTD
Trojan Global Equity Fund O Acc +20.2 -4.6 -11.3 +18.4 +14.9 +6.2 +3.8 +14.4 +15.0 +12.3 +19.2 +13.2 +1.1 +17.0

* From launch (06/03/06)

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

Source: Lipper, Link Fund Solutions Limited

The source of performance data has been changed. This change may have resulted in variations from previously published performance figures.

Risk Analysis Since Launch (06/03/2006) Trojan Global
Equity Fund
(%)
IA Global
(TR) (%)
MSCI World
Index (NR)
GBP (%)
Total Return +254.7 +157.7 +192.9
Max drawdown# -33.3 -38.3 -38.3
Best Month +7.9 +9.3 +10.1
Worst Month -9.4 -12.9 -10.6
Positive Months +63.1 +63.1 +64.3
Annualised Volatility +11.0 +13.4 +13.1

#Measures the worst investment period

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

 

Top 10 Holdings Fund %
Microsoft 6.5
PayPal 5.9
Alphabet 5.7
Medtronic 5.6
Visa 5.6
American Express 5.4
Becton Dickinson 4.1
Novartis 4.1
Experian 4.0
Unilever 3.5
Total Top 10 50.4
22 Other Holdings 44.3
Cash & Equivalent 5.3
Total  100.0

Asset allocation and holdings subject to change.

 

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