Charities

Companies’ competitive advantage and managerial excellence can take at least 5 years to become apparent

LTGG is an unconstrained global equity strategy focused on investing in exceptional long-term growth companies worldwide. The portfolio is typically towards the lower end of its 30-60 stocks range, and always invests in at least six sectors and six countries.

Typical Number of Holdings: 30-60
Maximum Stock Position: 10%
Benchmark: MSCI ACWI/FTSE All World Indices
Objective: Approach consistent with achieving +3% p.a. gross of fees over rolling five-year periods.

Long-term investments in well-managed growth businesses

This long-term global equity growth strategy employs bottom-up stock selection, invests in around 100 stocks, and differs significantly from the global index. The portfolio is diversified across industries, regions and, more importantly, different types of growth, with broad holding sizes of 0.5%, 1% or 2%, depending on the team’s level of conviction in the company’s prospects.

Typical Number of Holdings: 70-120
Maximum Stock Position: 6%
Benchmark: MSCI All Country World Index 
Objective: +2-3% p.a. over benchmark over rolling five year periods

Reflecting evolving views on asset classes which aim to enhance long-term returns and manage volatility

This strategy aims to deliver an attractive level of return above cash, with lower volatility than equity markets. It invests in a range of traditional and alternative asset classes including equities, infrastructure, commodities and currencies. The strategy is hedged to sterling.

Benchmark: UK Base Rate
Objective: To outperform the UK Base Rate by at least 3.5% per annum (net of fees) over rolling five-year periods with an annualised volatility of less than 10%

Aiming for attractive long-term returns at lower risk than equity markets

This strategy invests in a range of traditional and alternative asset classes such as equities, bonds, property, infrastructure, commodities and currencies. The different asset classes are included in the portfolio to enhance returns or reduce volatility. There is no allocation benchmark but there are limits on exposure to individual asset classes.

Benchmark: UK Base Rate
Objective: To outperform the UK Base Rate by 3.5% per annum (net of fees) over rolling five-year periods with an annualised volatility of less than 10% over rolling five-year periods

The focus is on the long term, rather than short-term yield

Generating a sustainable and potentially rising real income requires more than simply holding high-dividend paying stocks. We combine stocks with higher yield than the market with an element of growth that we believe will secure the income of tomorrow.

Typical Number of Holdings: 50-80
Maximum Stock Position: Capital 6%, Income 5%
Benchmark: FTSE All World Index
Objective: +1-2% p.a. over benchmark over rolling five year periods

Seeking real income, time after time.

Multi Asset Income prioritises long-term sustainable income over high short-term yields. The strategy combines active allocation across a broad range of assets with global security selection to achieve its aims: to produce monthly income, whilst seeking to maintain the value of that income and of capital in line with inflation (UK CPI) over five-year periods.

Benchmark: N/A
Objective: To produce monthly income, whilst seeking to maintain the value of that income and of capital in line with inflation (UK CPI) over five-year periods. 

The Strategic Bond Fund aims to produce monthly income. Opportunities for capital growth are also sought, subject to prevailing market conditions

Benchmark: 70% ICE Bank of America Merrill Lynch non Gilts, 30% ICE Bank of America Merrill Lynch European Currency High Yield Constrained Index
Objective: +1% p.a. over rolling three-year periods

Investing in companies that exert a positive influence on society and operate with integrity

The portfolio is constructed to address four themes: Social Inclusion and Education; Environment and Resource Needs, Healthcare and Quality of Life; and Base of the Pyramid – where companies are addressing basic human needs. We stringently monitor the social impact and financial performance of companies in the portfolio. We believe not only that investment can be used as a powerful force for good, but that companies that exhibit positive social values are increasingly likely to also be the winning investments of the future.

Typical Number of Holdings: 25-50
Maximum Stock Position: 10%
Benchmark: MSCI AC World Index
Objective: +2% p.a. ahead of global stock markets over rolling five year periods

Global Stewardship invests in sustainable growth companies.

The Global Stewardship strategy mitigates Environmental, Social and Governance (ESG) risks by applying 'sin sector' exclusions, and then seeks to identify ESG opportunities by focusing on companies which our research suggests are a net benefit to society, which balance the interests of all stakeholders, and which exhibit a responsible culture. The Global Stewardship team is made up of experienced investors and senior ESG specialists, who provide challenge, context and comparison when building a concentrated portfolio of 70-100 stocks.

Typical Number of Holdings: 70-100
Maximum Stock Position: 6%
Benchmark: MSCI AC World Index
Objective: +2-3% p.a. over rolling five year periods vs benchmark

The Fund aims to achieve (after deduction of costs) growth in both income and capital over rolling five-year periods, whilst delivering a yield higher than that of the MSCI ACWI Index over rolling five-year periods.

Typical Number of Holdings: 50-80
Maximum Stock Position: 1-3%
Benchmark: MSCI All Country World Index 
Objective: delivering a yield higher than that of the MSCI ACWI Index over rolling five-year periods

Investing in the most exciting growth companies, transforming the experience of Human Health

Health Innovation targets companies utilising the convergence of technology, driving a revolution in the understanding, prevention, detection and treatment of disease as well as increasing the operational effectiveness of health infrastructure. We see the future of health focussed on prevention of disease and the personalisation of treatments, rather than treating patients when they are already ill. We achieve this by running a concentrated portfolio, containing the best companies (agnostic to sector) with the potential to become outliers in a sector ripe for disruption. We embrace asymmetry and run winners to maximise returns for our clients over a long-term investment horizon.

Typical Number of Holdings: 25-50
Benchmark: MSCI AC World Index
Objective: Approach consistent with achieving +3%p.a. over index over rolling five-year periods

Long-term investments in well-managed growth businesses - sustainable, competitive advantages

This long-term global equity growth strategy employs bottom-up stock selection, invests in around 100 stocks, and differs significantly from the stock market index. The portfolio is diversified across stocks, industries and regions, with broad holding sizes of 0.5%, 1% or 2%, depending on the team’s level of conviction in the company’s prospects.

Typical Number of Holdings: 70-120
Maximum Stock Position: 6%
Benchmark: MSCI All Country World Index 
Objective: +2-3% p.a. over benchmark over rolling five year periods

Long-term investments in well-managed growth businesses, aligned to the objectives of the Paris Agreement.

The Fund aims to outperform (after deduction of costs) the MSCI ACWI Index (the “Index”), as stated in sterling, by at least 2% per annum over rolling five-year periods, and aims to have a weighted average greenhouse gas intensity that is lower than that of the MSCI ACWI EU Paris Aligned Requirements Index.

Typical Number of Holdings: 70-120
Maximum Stock Position: 6%
Benchmark: MSCI All Country World Index 
Objective: Aims to outperform (after deduction of costs) the MSCI ACWI Index (the “Index”), as stated in sterling, by at least 2% per annum over rolling five-year periods.