Fact sheet: CFP SDL UK Buffettology

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
UK GROWTH
Sector
UT UK All Companies
Fund type
OEIC
Primary aim
GROWTH
Why Money Observer Rates CFP SDL UK Buffettology

Rated Fund 2016-2017. Investing with a business perspective

This fund, the winner of Money Observer's Best Smaller UK Growth Fund award in 2015 and 2016, has doubled in size over the past year, but it remains a relative minnow at just over £60 million. It has been managed since its inception in 2011 by Kevin Ashworth-Lord, who follows a methodology called 'business perspective investing'.

In essence he is aiming to buy ownership interests in the best companies he can find at a price that makes business sense. When putting the fund's initial portfolio together he screened the UK stock market for shares that Warren Buffett would potentially buy.

He says that the success of the fund is down to getting the investments right after extensive research. When he finds an attractive investment he invests a 'meaningful' amount in it.

He concentrates the fund in relatively few companies - there are currently less than 30 holdings in the portfolio - which he feels he knows a lot about. He firmly believes that investment is a business venture, not a gamble and that it is the companies owned that make money for the investor rather than the stock market.

When choosing which companies to invest in, Ashworth-Lord focuses on factors such as comprehensible business models, transparent and unleveraged balance sheets and strong cash flow.

He prefers companies that reinvest their earnings whenever it is possible to do so at attractive high rates of return. He believes that if by so doing, they create at least £1 of market value for each £1 of retained earnings, they are doing the right thing.

3 Year Performance
Fund Performance67.2%
Average of Rated Funds Group50.5%
Sector Performance26.9%
Fund information
Fund name
CFP SDL UK Buffettology Institutional Inc
Fund manager company
Castlefield Fund Partners Limi
Fund type
OEIC
Fund manager
  • Keith Ashworth-Lordsince 27/03/2011
Accolades
Winner - UK Growth - Smaller Funds
Fund objective
To achieve an annual compounding rate of return over the long term, defined as 5-10 years, which is superior to the performance of the UK stock market.
Benchmark
  • IA UK All Companies
Investment style
Active
Investment method
Shares
Quick stats
1 Year return
24.6%
1 Year rank in sector
18/275
Sector
UT UK All Companies
Yield
1.2%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.28%
Fund size
£163m (£53m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
71
Mid price
256.36
Top in this sector
Fund name1 Year
MI Chelverton UK Equ Grth37.4%
Old Mutual Equity 136.2%
Old Mutual UK Mid Cap35.9%
Unicorn UK Growth34.3%
Blackrock Inst Eq UK Sm Cos32%
...more in UT UK All Companies

Performance snapshot

Holdings snapshot

  • UK84%
    Money Market16%
  • Money Market16%
    Travel11.8%
    Chemicals11.1%
    Financials10.3%
    Biotechnology/Medical9.7%
  • UK Equities84%
    Money Market16%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund5.6%2.6%9%24.6%67.2%149.3%
Sector1.6%0.6%6.1%14%26.9%66%
Rank within sector5 / 28232 / 28146 / 28118 / 2754 / 2573 / 244
Quartile1st1st1st1st1st1st
Calendar performance
 YTD - 20172016201520142013
Fund12.5%11.8%27.9%1.8%36%
Sector9.4%11.2%3.7%0.6%25.7%
Rank within sector47 / 279135 / 2691 / 26193 / 25532 / 248
Quartile1st3rd1st2nd1st
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
9.74
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.86
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
1.41
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
9.93
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
6.22
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
1.34
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.63
Price movement
52 week high256.36
52 week low207.13
Current bid price-
Current offer price-
Current mid price256.36
Region
1UK83.98%
2Money Market16.02%
Industry sector
1Money Market16.02%
2Travel11.77%
3Chemicals11.06%
4Financials10.31%
5Biotechnology/Medical9.65%
6Industrials9.48%
7Support Services6.13%
8Leisure5.58%
9Building & Construction5.54%
Asset type
1UK Equities83.98%
2Money Market16.02%
Individual holdings
1GAMES WORKSHO ORD GBP0.055.58%
2SCAPA GROUP PLC5.25%
3BIOVENTIX PLC4.58%
4RWS HLDGS4.08%
5Trifast Plc3.68%
6LIONTRUST ASS ORD GBP0.013.62%
7AB DYNAMICS PLC3.11%
8MATTIOLI WOODS3.09%
9CRODA INTERNATIONAL PLC2.97%
Management
Fund manager group
No data available.
Fund manager company
Castlefield Fund Partners Limi
Fund type
OEIC
Fund objective
To achieve an annual compounding rate of return over the long term, defined as 5-10 years, which is superior to the performance of the UK stock market.
Benchmark
  • IA UK All Companies
Investment style
Active
Investment method
Shares
Fund manager
NameSinceBiography
Keith Ashworth-Lord27/03/2011The fund manager has over 30 years of equity market experience and is a seasoned practitioner of ‘Business Perspective Investing’ as championed by Ben Graham and Warren Buffett. Prior to founding Sanford Deland Asset Management. Keith worked with a variety of stockbroking, fund management and private investor clients. Keith is a graduate of Natural Sciences with a Masters in Management Studies, and is a Chartered Fellow of the Chartered Institute of Securities & Investment.
Compliance
IA Recognised, UCITS V Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
CFP SDL UK Buffettology General Inc
Initial charge-
Annual charge1.5%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.78%
Total expense ratio (TER)1.97%
Bid price-
Offer price-
Mid price254.95
CurrencyGBX
Price updated17/08/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMJZ1
CFP SDL UK Buffettology Institutional Inc
Initial charge-
Annual charge1%
Min single investment£250,000
Min regular saving£10,000
Available in ISAYes
Ongoing charge (OCF)1.28%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price256.36
CurrencyGBX
Price updated17/08/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeK6LW
Data provided by

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