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 04/07/2022
Accumulation Shares
Income Shares
366.89p
Fund Size
£433m (31/05/22)

Past performance is not a guide to future performance.

May 2022

Your Fund returned -3.5% during the month compared to -0.3% for the MSCI World Index NR (£).

2022 is proving to be the most challenging year for global equity markets since the Global Financial Crisis in 2008.  The relative strength of the US dollar against the pound is masking the true extent of the underlying volatility with Energy the only industrial sector posting positive returns in the year to date.  Against a backdrop of higher inflation, rising interest rates and economic uncertainty, we are reminded why the Fund’s focus on resilent and adaptive businesses is so critical. In May we visited a number of the Fund’s US investments, most notably the payments companies Visa and Mastercard.

Our meetings highlighted how the card networks are taking advantage of the growth in all forms of digital payments by partnering with fintechs and investing in innovative technology solutions. The shift away from physical cash settlement by consumers is well understood, but the broad application of digital payments by corporates is only getting going and remains a huge opportunity. Meanwhile, the structural expansion of e-commerce combines with a recovery in travel to underpin the growth of highly profitable cross-border revenues.

We are pleased that George Viney has become the Fund’s Co-Manager. This change reflects the close partnership that George and I have developed in the ten years that we have worked together.

 

Source: Lipper, Link Fund Solutions Limited

 

Total Return 06/03/2006
Since Launch
31/05/2012
10 Years
31/05/2017
5 Years
31/05/2019
3 Years
31/05/2021
1 Year
30/11/2021
6 Months
Trojan Global Equity O Acc +366.7% +218.5% +56.8% +29.7% +0.4% -9.2%
IA Global TR +237.9% +198.6% +50.0% +34.3% +0.2% -8.1%
MSCI World NR GBP +308.2% +248.6% +62.9% +43.0% +7.4% -4.7%
Discrete Calendar Annual Returns (%) 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Trojan Global Equity O Acc +20.2% -4.6% -11.3% +18.4% +14.9% +6.2% +3.7% +14.4% +15.0% +12.3% +19.2% +13.2% +1.1% +24.6% +13.5% +21.7% -11.8%

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 30 April 2022.

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 +366.7% +237.9% +308.2%
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 +61.3% +62.9% +62.9%
Annualised Volatility +11.7% +13.5% +13.3%

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 Fund %
Visa 8.4
Microsoft 8.1
Alphabet 7.5
Mastercard 7.1
Meta Platforms 5.5
Alcon 4.2
Fiserv Inc 4.1
Intuit 4.1
Novartis 3.8
American Express 3.6
Total Top 10 56.5
18 other holdings 41.7
Cash 1.9
Total 100.0

The Fund was originally launched as the Trojan Capital Fund, which focused on investing in UK equities with the flexibility to invest in overseas equities and other asset classes. The strategy was changed to a global equity strategy in December 2013. The Fund has been a constituent of the IA Global Sector since April 2012.  Prior to this, the Fund was in the IA Flexible Investment Sector. 

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.

Important information for U.S. persons

The securities described on this website are neither available nor offered in the United States of America (including the District of Columbia or any other territory occupied or possessed by the United States of America) or to U.S. persons (including residents of the United States of America, residents within an area subject to its jurisdiction and U.S. persons who are resident outside the United States of America).

How to Invest

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

How to Invest