Fact sheet: Trojan Global Equity

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
UT Global
Fund type
OEIC
Primary aim
GROWTH
Why Money Observer Rates Trojan Global Equity

Rated fund 2016-2017. Looking for strong global brands to have and to hold

This fund has been investing internationally since Gabrielle Boyle took over the management in 2011. Like other fund managers at Troy, she focuses on capital preservation and achieving positive returns.

In order to achieve this goal, she favours companies with strong brands and distribution channels when choosing shares, while avoiding cyclical or overly specialist companies. The companies in the fund tend to be very diversified global businesses generating consistent revenue.

They are usually very well-established, with high returns on capital. Boyle thinks the key ingredient to achieving absolute returns is to hold companies that do well regardless of market conditions.

She likes to meet and get to know company managements, and aims to be a long-term holder of stocks, partly to avoid the drag of transaction costs on performance. She aims to keep annual turnover in the fund's portfolio to 20 per cent.

Nevertheless, at just under £200 million, an attraction of the fund is that it has the potential to be a lot more nimble than many of its major competitors. With just over 30 holdings and the top 10 comprising more than 40 per cent of the portfolio, there is also scope for individual holdings to make a real impact on the fund's performance.

At the end of 2016, the portfolio was invested 58 per cent in North America, 18 per cent in the UK, 12 per cent in Europe and 4 per cent in Asia including Japan. Major holdings include Microsoft and American Express.

3 Year Performance
Fund Performance42.2%
Average of Rated Funds Group54.7%
Sector Performance34.2%
Fund information
Fund name
Trojan Global Equity O Acc
Fund manager company
Troy Asset Management Ltd
Fund type
OEIC
Fund managers
  • George Vineysince 31/05/2016
  • Gabrielle Boylesince 01/11/2011
Accolades
Fund objective
The investment objective of the Trojan Global Equity Fund is to provide capital growth over the longer term. The policy is to invest substantially in UK and overseas equities but the Fund may also invest in collective investment schemes and money market instruments. Any comparisons against indices are for illustrative purposes only.
Benchmark
  • MSCI World
Investment style
Growth
Investment method
Shares
Quick stats
1 Year return
5.3%
1 Year rank in sector
147/248
Sector
UT Global
Yield
0.7%
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.
0.97%
Fund size
£251m (£204m 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.
100
Mid price
292.38
Top in this sector
Fund name1 Year
Baillie Gifford PostivChng35.6%
Aubrey GblConviction31.5%
TM Lansd DMLO SRI Fed26.5%
Equitile Resilience26.4%
Baillie Gifford Gbl Discovery24.1%
...more in UT Global

Performance snapshot

Holdings snapshot

  • USA62%
    UK22%
    Europe13%
    Asia3%
  • Information Technology32%
    Consumer Staples27%
    Health Care18%
    Financials10%
    Money Market6%
  • International Equities94%
    Money Market6%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-4.7%-3%-1.7%5.3%42.2%77.4%
Sector-4.8%-1.4%1%6.7%34.2%61.7%
Rank within sector102 / 272238 / 268226 / 260147 / 24855 / 22158 / 199
Quartile2nd4th4th3rd1st2nd
Calendar performance
 YTD - 20182017201620152014
Fund-3.8%13.2%19.2%12.3%15%
Sector-2.8%13.6%21%3.4%6.7%
Rank within sector209 / 272114 / 247157 / 2328 / 22012 / 207
Quartile4th2nd3rd1st1st
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.
2.3
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.
0.92
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.
0.98
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%.
10.58
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.
5.4
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.
0.74
Price movement
52 week high310.62
52 week low277.94
Current bid price-
Current offer price-
Current mid price292.38
Region
1USA62%
2UK22%
3Europe13%
4Asia3%
Industry sector
1Information Technology32%
2Consumer Staples27%
3Health Care18%
4Financials10%
5Money Market6%
6Industrials4%
7Consumer Discretionary3%
Asset type
1International Equities94%
2Money Market6%
Individual holdings
1ALPHABET INC. CLASS A5.7%
2MICROSOFT CORP5.5%
3AMERICAN EXPRESS CO5.4%
4PAYPAL HLDGS INC5.4%
5EBAY INC5.1%
6NOVARTIS AG4.5%
7WELLS FARGO & CO4.4%
8MEDTRONIC INC4.1%
9BECTON DICKINSON & CO4%
Management
Fund manager group
Troy Asset Management
Fund manager company
Troy Asset Management Ltd
Fund type
OEIC
Fund objective
The investment objective of the Trojan Global Equity Fund is to provide capital growth over the longer term. The policy is to invest substantially in UK and overseas equities but the Fund may also invest in collective investment schemes and money market instruments. Any comparisons against indices are for illustrative purposes only.
Benchmark
  • MSCI World
Investment style
Growth
Investment method
Shares
Fund managers
NameSinceBiography
George Viney31/05/2016George is the Assistant Fund Manager of the Trojan Global Equity Fund. George joined Troy Asset Management in June 2012 from Rathbone Brothers, where he worked as an assistant fund manager for the unit trust business. George graduated from King’s College, London in 2006. He is a CFA Charterholder.
Gabrielle Boyle01/11/2011Gabrielle joined Troy in November 2011 from NewSmith Capital Partners LLP where she was a partner responsible for Global Equity portfolios. Previously Gabrielle was a Senior Managing Director at Lazard Asset Management where she worked for 17 years and was a portfolio manager responsible for Global and International Equity portfolios. She managed the Lazard European Alpha fund between 1998 and 2008. Gabrielle graduated from University College Dublin in 1990.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Trojan Global Equity I Acc
Initial charge-
Annual charge1.35%
Min single investment£1,000
Min regular saving£1,000
Available in ISAYes
Ongoing charge (OCF)1.47%
Total expense ratio (TER)1.61%
Bid price-
Offer price-
Mid price271.71
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeEV70
Trojan Global Equity I Inc
Initial charge-
Annual charge1.35%
Min single investment£1,000
Min regular saving£1,000
Available in ISAYes
Ongoing charge (OCF)1.47%
Total expense ratio (TER)1.61%
Bid price-
Offer price-
Mid price246.19
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeEV71
Trojan Global Equity O Acc
Initial charge-
Annual charge0.85%
Min single investment£1,000
Min regular saving£1,000
Available in ISAYes
Ongoing charge (OCF)0.97%
Total expense ratio (TER)1.13%
Bid price-
Offer price-
Mid price292.38
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeEV72
Trojan Global Equity O Inc
Initial charge-
Annual charge0.85%
Min single investment£1,000
Min regular saving£1,000
Available in ISAYes
Ongoing charge (OCF)0.97%
Total expense ratio (TER)1.13%
Bid price-
Offer price-
Mid price244.6
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeEV73
Trojan Global Equity S Acc
Initial charge-
Annual charge0.75%
Min single investment£1,000
Min regular saving£1,000
Available in ISAYes
Ongoing charge (OCF)0.85%
Total expense ratio (TER)0.86%
Bid price-
Offer price-
Mid price294.71
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeEV74
Trojan Global Equity S Inc
Initial charge-
Annual charge0.75%
Min single investment£1,000
Min regular saving£1,000
Available in ISAYes
Ongoing charge (OCF)0.85%
Total expense ratio (TER)0.86%
Bid price-
Offer price-
Mid price244.77
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeEV75
Data provided by

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