Fact sheet: Mid Wynd International

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.
GLOBAL GROWTH
Sector
IT Global
Fund type
Investment Trust
Primary aim
GROWTH
Why Money Observer Rates Mid Wynd International

New for 2017. Looking for global trends that will deliver superior returns

Named after a small street in Dundee, Mid Wynd became a global investment trust in 1988. However, it is its history since 2014 that is of most interest as that is when its current investment team - Simon Edelsten, Alex Illingworth and Rosanna Burcheri at Artemis - took over. Since then its performance has improved significantly.

The approach of the managers, who also run the Artemis Global Select fund, is to choose stocks by first identifying reliable commercial trends around the world and then finding the right companies at the right prices to exploit these trends.

The type of trends the managers are currently looking at include rising consumer spending in emerging markets, the growth in demand for healthcare in developed markets and technological change for the internet and energy industries. The managers believe that by focusing on companies that benefit from these themes they can deliver superior returns over time.

Within each investment theme's universe, their preference is to select high-quality companies with proven records of profitability, high cash generation, strong balance sheets and barriers to entry protecting their industries. They warn that such companies sometimes lag the market when share prices are rising strongly, but they tend to protect capital well when economic conditions become more testing.

Once an opportunity has been identified, they will only buy when the company's shares are on a reasonable valuation. In terms of portfolio construction, they aim to run a diversified portfolio with around 55 to 70 holdings spread across eight to 10 different themes.

3 Year Performance
Fund Performance57.6%
Average of Rated Funds Group54.7%
Sector Performance52.7%
Fund information
Fund name
Mid Wynd International Investment Trust PLC O Inc
Fund manager company
Artemis Fund Managers Limited
Fund type
Investment Trust
Fund managers
  • Simon Edelstensince 30/04/2014
  • Rosanna Burcherisince 30/04/2014
  • Alex Illingworthsince 30/04/2014
Accolades
Highly commended - Best Global Trust
Fund objective
Mid Wynd aims to achieve both capital and income growth by investing on a worldwide basis.
Benchmark
  • MSCI AC World
Investment style
No data available.
Investment method
Shares
Quick stats
1 Year return
11.9%
1 Year rank in sector
11/22
Sector
IT Global
Yield
1%
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.
0.7%
Fund size
£160m
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.
79
Mid price
479
NAV
?Net asset value. The NAV per share may be higher or lower than the share price, which in turn is trading at either a discount or a premium to NAV.
472.41
Discount/Premium
?When the market price of an investment trust’s shares is less than the net asset value (NAV) per share then it is trading at a discount to NAV. A trust’s shares are on a premium when they trade at a higher price than the NAV.
+1.40
Gearing
?Investment trusts have the ability to borrow money which they invest with the aim of generating a higher return than the cost of the loan. An ungeared trust has a figure of 100. A figure of 110 would represent a trust with 10% gearing.
100
Top in this sector
Fund name1 Year
Independent Investment Trust64.6%
Edinburgh Ww IT PLC40.5%
Sct Mtg IT PLC29%
Monks IT PLC28.1%
Lazard World Trust24.7%
...more in IT Global

Performance snapshot

Holdings snapshot

  • USA44.3%
    Japan12.4%
    China8.2%
    France7%
    UK6.5%
  • Software16.2%
    Real Estate12.6%
    Healthcare & Medical Products12.6%
    Capital Goods7.9%
    Biotechnology/Medical7.7%
  • US Equities44.3%
    Japanese Equities12.4%
    Chinese Equities8.2%
    French Equities7%
    UK Equities6.5%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-5.6%-0.4%5.1%11.9%57.6%106.9%
Sector-4.2%-0%4.6%15.1%52.7%87.1%
Rank within sector15 / 2214 / 229 / 2211 / 227 / 226 / 22
Quartile3rd3rd2nd2nd2nd2nd
Calendar performance
 YTD - 20182017201620152014
Fund-2.1%18.3%24.4%12.6%11.8%
Sector-2.1%23.5%21.1%6.8%7.4%
Rank within sector8 / 2214 / 229 / 226 / 227 / 22
Quartile2nd3rd2nd2nd2nd
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.
2.18
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.
0.95
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.
1.49
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%.
9.95
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.
5.72
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.
0.22
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.
0.66
Price movement
52 week high515
52 week low433
Current bid price474
Current offer price484
Current mid price479
Region
1USA44.33%
2Japan12.4%
3China8.22%
4France6.99%
5UK6.5%
6Germany6.1%
7Hong Kong3.33%
8Switzerland3.29%
9Australia2.47%
Industry sector
1Software16.25%
2Real Estate12.62%
3Healthcare & Medical Products12.58%
4Capital Goods7.85%
5Biotechnology/Medical7.7%
6Banks7.32%
7Consumer Durables5.63%
8Insurance4.65%
9Retail4.39%
Asset type
1US Equities44.33%
2Japanese Equities12.4%
3Chinese Equities8.22%
4French Equities6.99%
5UK Equities6.5%
6German Equities6.1%
7Hong Kong Equities3.33%
8Swiss Equities3.29%
9Australian Equities2.47%
Individual holdings
1CITIGROUP INC2.59%
2LVMH MOET HENNESSY VUITTON SE2.54%
3THERMO FISHER SCIENTIFIC INC2.54%
4DAIFUKU CO2.45%
5MASTERCARD INC2.44%
6BOSTON SCIENTIFIC CORP2.37%
7FRESENIUS MEDICAL CARE AG & CO.KGAA2.37%
8AVERY DENNISON CORP2.33%
9UNITEDHEALTH GROUP INC2.25%
Management
Fund manager group
Artemis
Fund manager company
Artemis Fund Managers Limited
Fund type
Investment Trust
Fund objective
Mid Wynd aims to achieve both capital and income growth by investing on a worldwide basis.
Benchmark
  • MSCI AC World
Investment style
No data available.
Investment method
Shares
Fund managers
NameSinceBiography
Simon Edelsten30/04/2014Simon manages the Artemis Global Select Fund and Mid Wynd International Investment Trust with Alex Illingworth and Rosanna Burcheri. After graduating from Trinity College, Oxford, he joined Phillips & Drew in 1985 and moved to Dresdner Kleinwort Benson in 1997 as head of European equity sales. From there he went to Taube Hodson Stonex (THS) in 2001: in a five-man team, Simon had joint responsibility for global equities. He joined Artemis in 2011.
Rosanna Burcheri30/04/2014Rosanna manages the Artemis Global Select Fund and Mid Wynd International Investment Trust with Simon Edelsten and Alex Illingworth. After graduating in economics from Bocconi University in 1996, she joined Paribas Asset Management as a junior fund manager. In 2000, she moved to M&G as a fund manager and director responsible for pan-European equity portfolios. As a senior European portfolio manager at Shell Pension Management Service from 2004, she controlled 710m of assets. Then, in 2006, Rosanna became a partner and pan-European fund manager for FrontPoint Management (UK). She came to Artemis in 2011.
Alex Illingworth30/04/2014Alex manages the Artemis Global Select Fund and Mid Wynd International Investment Trust with Simon Edelsten and Rosanna Burcheri. After graduating from Durham, Alex began his career running global funds at Rothschild Asset Management. In 2003 he was appointed a director of global equity at Insight Investment, responsible for long-only, ethical and absolute return funds. He joined Artemis in 2011.
Compliance
AIC Member, UCIS, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Mid Wynd International Investment Trust PLC O Inc
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price472.41
CurrencyGBX
Price updated14/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNJQA
Mid Wynd International Investment Trust PLC O NAV
Initial charge-
Annual charge0.5%
Min single investment£0
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)0.7%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price472.41
CurrencyGBX
Price updated14/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMA3D
Data provided by

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