This was our first introduction to the trust. The team took over the management of the trust in 2014, but it has continued to struggle against the index. The portfolio is a fund of funds, this means it invests in other investment trusts and investment funds. Some of these would not normally be available to UK investors and this is it’s USP.
The fund focuses on value and is therefore looking for cheap / good long-term investments. However, value has been out of favour and this they believe has impacted performance. The fund also aims to deliver additional performance through country allocation and this has been wrong. My two concerns with the fund are costs as this invests in other funds and investment trusts and therefore this must be absorbed into the performance figures, and fundamentally the performance which has been behind the benchmark for a number of years…read more