FP Octopus Global Growth Fund
|
|
- Agnes Fowler
- 6 years ago
- Views:
Transcription
1 FP Octopus Global Growth Fund Short Report for the six months ended 30 April 2016 Investment Objective and Policy The Fund aims to achieve capital growth for investors over the medium to longer term. The Fund will seek to achieve its objective through investments primarily in a range of global equities, through shares and units of Collective Investment Schemes (such as unit trusts and OEICs, both regulated and unregulated), but also through closed ended schemes. Foreign currency exposure may be hedged back into GBP-Sterling. The Fund may also invest, at the ACD s discretion, in other transferable securities, money market instruments, cash and near cash, and deposits. The portfolio will be actively managed and the Fund may hold derivatives for investment purposes as well as for efficient portfolio management purposes (including hedging). Borrowing will be permitted up to the levels stated in the Regulations. Fund Facts Risk Profile Interim/Annual Accounting End Dates 30 April 31 October Ex-dividend (xd) Dates 01 May 01 November Income Distribution/ Accumulation Dates 30 June 31 December Please refer to the Full Prospectus for details of all the risks. The Fund has exposure to credit, counterparty and usual market risks. Past performance is not a guide to future performance. The value of investments and any income from them may go down as well as up. Exchange rate changes may cause the value of any overseas investments to rise or fall. You should always regard investments in the Fund as medium to long term. Charges Share Class Initial Charge Annual Management Charge as at 30/04/16 Total Expense Ratios as at 30/04/16 Total Expense Ratios as at 31/10/15 Share Class B 0.00% 0.55% 1.26% 1.30% Share Class C 0.00% 0.45% 1.16% 1.20% Share Class D % 0.75% 1.46% 1.50% 1 Share class D was launched 1 April Page 1
2 Distributions/Accumulations Distributions Distribution payable 30/06/16 Distribution paid 30/06/15 Share Class B Accumulation Share Class C Accumulation Share Class D Accumulation Comparative Tables Net Asset Value Date Share Class B Accumulation Net Asset Value of Share Class ( ) Shares in Issue Net Asset Value per Share (p) 31/10/15 2,219,828 1,844, Percentage Change (%) 30/04/16 2,324,854 1,913, Share Class C Accumulation 31/10/15 16,022,765 13,229, /04/16 15,618,938 12,768, Share Class D Accumulation 31/10/15 3,276 3, /04/16 3,303 3, Major Holdings Top 10 Holdings % of Fund as at 30/04/16 Vanguard S&P Artemis US Extended Alpha 5.74 JPMorgan US Equity Income 5.56 Artemis Global Income 4.85 JO Hambro Global Select 4.37 Vanguard US Opportunities 4.15 Hermes Asia ex-japan Equity 3.96 Odey Allegra International 3.55 Verrazzano Advantage European 3.45 M&G Global Dividend 3.27 Top 10 Holdings % of Fund as at 31/10/15 Vanguard S&P Artemis US Extended Alpha 5.43 db x-trackers EURO STOXX JPMorgan US Equity Income 5.15 ishares MSCI Japan GBP Hedged 4.97 Verrazzano Advantage European 4.86 Artemis Global Income 4.74 Odey Allegra International 4.14 JO Hambro Global Select 4.13 Vanguard US Opportunities 3.84 Page 2
3 Portfolio Information Breakdown by Investment type % % 24.79% Offshore Funds [39.56%*] Exchange Traded Funds [33.60%] Collective Investment Schemes [24.07%*] 4.21% Net other assets [2.77%] Comparative figures shown above in square brackets relate to 31 October * Since the previous report classification headings have been updated by data providers. Comparative figures have been updated where appropriate. Investment Manager s Report Investment Review The FP Octopus Global Growth Fund produced a positive performance in the six months from 1 November 2015 to 30 April 2016, with a 1.33% increase during the period (Source: Lipper.01/11/15 29/04/16. returns, net income reinvested). It was a volatile six months for the portfolio. Investor uncertainty about global economic growth and the ongoing debate around the interest rate policies of the main central banks affected performance. At the beginning of the period, we maintained a balanced spread of holdings across regions. We reduced several US investments that had benefited from a recovering US economy, including ishares S&P 500 exchange-traded fund (ETF). Weaker Asian and emerging markets meant returns were disappointing from Macquarie Asia New Stars and First State Asia Pacific Leaders. Meanwhile, Longleaf Partners Global and M&G Global Dividend suffered from their exposure to the volatile Chinese economy. Page 3
4 Investment Manager s Report (continued) Investment Review (continued) In December, we invested in a new fund, RWC Global Emerging Markets, launched by a USbased management team with analysts in the US and Asia, by reducing L&G Pacific Index. The outperformance of Asian compared with non- Asian emerging markets in December benefited Macquarie Asia New Stars. A weak sterling, compared with the euro and yen, had a negative impact on funds which use strategies to shield investors from a strong sterling, particularly Verrazzano European Advantage and ishares MSCI Japan GBP Hedged ETF. January was disappointing for the portfolio, although a good return from Hermes Asia ex Japan that was ahead of its Asian benchmark provided a highlight. We made a small initial investment in Mirabaud Europe ex UK Small and Mid Cap, as we believe the manager has an opportunity to deliver good returns from investing in smaller companies. We saw a rebound in global equity markets from mid-february lows as a result of Chinese economic stimulus measures and the US Federal Reserve s (Fed) decision not to raise interest rates, which boosted the performance of commodities, as well as Asian and other emerging stock markets. This helped RWC Global Emerging Markets and Hermes Asia Pacific ex Japan, in particular. Funds with more cautious investment strategies suffered somewhat as markets picked up, notably Odey Allegra International and Artemis US Extended Alpha. We reduced the portfolio s European exposure, notably with Verrazzano Advantage European, following continued market concerns about how the euro will be affected by the European Central Bank s (ECB) efforts to stimulate eurozone economic growth. In April, we made a new purchase in CRUX European Special Situations, managed by Richard Pease, a highly regarded manager we have known for some time from his days at both New Star and Henderson. Market Overview Interest rates were a key concern during the six months under review, with investors keeping a close eye on central banks for signs of potential interest rate rises. The US Fed led the way by raising interest rates in December, with expectations of further rises throughout These have yet to materialise, as the Fed reverted to a more cautious tone on the prospects of global growth. For as long as it remains low, the oil price will continue to be a deflationary factor for countries in the developed world. For oil-producing nations, it is likely to be a drag on growth. There has been little success in controlling oil production, and it seems the oil price is likely to remain low for a while. Global equity markets have struggled; however, efforts to stimulate economic growth in China and a weakening US dollar provided significant relief to Asian and emerging market equities. This helped to drive the rebound in global equity markets from lows in mid-february. In Europe, investor attention turned towards the Brexit referendum, which will decide whether Britain should remain in the European Union. While this added to uncertainty for investors, the ECB caused a surprise with the extent of its continued measures to stimulate economic growth in the eurozone, which should provide welcome support to markets there. Page 4
5 Investment Manager s Report (continued) Outlook We feel it is prudent to remain cautious given the current level of uncertainty and resultant market volatility. We have adopted a more neutral position relative to our longer-term strategic asset allocations which we feel is sensible when unsure of which direction the market is likely to take in the near term. As a reflection of our cautious stance and neutral positioning, we have reduced our equity market exposure across the board, allocating to cash instead. We have tempered our previous long-term preference for developed markets by adding to our emerging markets exposure. This is a short-term tactical decision that served us well in March and April, but we remain conscious of the Fed s longer-term desire to raise rates and the impact this will have on both the US dollar and the emerging markets themselves. It is less clear how the emerging markets might fare over a slightly longer time frame. We will be following the prospects for this region closely in the coming months. We expect sterling to be weak and unpredictable in the run-up to the Brexit referendum. We have therefore reduced our investments in certain funds that aim to shield UK investors from a strong sterling. Given that there is no certainty of the outcome of the referendum in June, we prefer to focus on assessing and controlling portfolio risk rather than attempting to speculate on a particular outcome. We do know that this particular issue is likely to dominate headlines over the coming months and, if the Scottish referendum is anything to go by, volatility is likely to increase as we approach the actual referendum date on 23 June The value of an investment, and any income from it, can fall or rise. You may not get back the full amount invested. Past performance is not a reliable indicator of future results. Personal opinions may change and should not be seen as advice or a recommendation. These products are not suitable for everyone. Any recommendation should be based on a holistic review of your financial situation, objectives and needs. We do not offer investment or tax advice. We recommend you seek professional advice before deciding to invest. Investment Manager Octopus Investments Limited 23 May 2016 Page 5
6 Significant Information Under the Alternative Investment Fund Managers Directive, ( AIFMD ), acting as the Alternative Investment Fund Manager ( AIFM ), Fund Partners is required to disclose how those whose actions have a material impact on the Fund are remunerated. The remuneration strategy across Fund Partners is governed by the Remuneration Committee, a committee appointed by the Fund Partners Board. The Remuneration Committee has established an AIFM Remuneration Policy designed to ensure the AIFM Remuneration Code in the UK Financial Authority handbook is met proportionately for all AIFM Remuneration Code Staff. Fund Partners considers its activities as non complex due to the fact that regulation limits the AIF strategies conducted and the scope of investment in such a way that investor risk is mitigated. The discretion of Fund Partners and the portfolio manager is strictly controlled within certain pre-defined parameters as determined in the prospectus of each Alternative Investment Fund. In its role as an AIFM, Fund Partners deems itself as lower risk due to the nature of the activities it conducts. Fund Partners does not pay any form of variable remuneration currently. Therefore Fund Partners have provided a basic overview of how staff whose actions have a material impact on the Funds are remunerated. April 2016 Number of Beneficiaries Total remuneration paid Fixed remuneration Variable remuneration paid Carried interest paid by the AIF Total remuneration paid by the AIFM during the financial year 45 1,442,249 1,442, Remuneration paid to employees of the AIFM who have a material impact on the risk profile of the AIF 4 371, , Due to the size and structure of Fund Partners, it is determined that employees of the AIFM who have a material impact on the risk profile of the AIF include the Board and the Head of Risk and Compliance. The delegated investment manager is subject to regulatory requirements on remuneration that Fund Partners deem to be equally as effective as those detailed in the AIFMD, which would include the Capital Requirements Directive or Markets in Financial Instruments Directive. The information in this report is designed to enable shareholders to make an informed judgment on the activities of the Fund during the period it covers and the result of those activities at the end of the period. The long Report and Accounts are available free of charge on request. For more information about the activities and performance of the Fund during the period and previous periods, please contact: Authorised Corporate Director Fund Partners Limited Cedar House, 3 Cedar Park, Cobham Road, Wimborne, Dorset, BH21 7SB Customer Service Centre: co.uk Depositary State Street Trustees Limited 20 Churchill Place, London, E14 5HJ Investment Manager Octopus Investments Limited 33 Holborn, London, EC1N 2HT Authorised and regulated by the FCA Authorised regulated by the FCA Authorised and regulated by the FCA Please note that telephone calls may be recorded for monitoring and training purposes, and to confirm investors' instructions Auditor Deloitte LLP Chartered Accountants and Statutory Auditor Saltire Court, 20 Castle Terrace, Edinburgh, EH1 2DB Page 6
FP CAF International Equity Fund
FP CAF International Equity Fund Short Report for the year ended 30 April 2016 Investment Objective and Policy The Fund aims to achieve capital growth over the medium to longer term which is in excess
More informationFP Octopus UK Equity Fund
FP Octopus UK Equity Fund Short Report for the six months ended 30 April 2016 Investment Objective and Policy The Fund aims to achieve capital growth over the medium to longer term which is in excess of
More informationFP Verbatim Portfolio 5 Growth Fund
FP Verbatim Portfolio 5 Growth Fund Short Report for the year ended 31 December 2015 Investment Objective and Policy The Fund will use a broadly cautious balanced strategy with the aim of achieving capital
More informationFP Brompton Global Income Fund
FP Brompton Global Income Fund Short Report for the year ended 31 July 2016 Investment Objective and Policy To achieve an income with potential for some capital growth by investing in markets in both the
More informationFP Thoroughbred Core Alpha Fund
FP Thoroughbred Core Alpha Fund Short Report for the six months ended 31 January 2016 Investment Objective and Policy The Fund aims to achieve long-term capital growth by the active management of a global
More informationElite Balanced Trust. Short Report for the year ended 31 May Investment Objective and Policy. Risk Profile. Fund Facts
Elite Balanced Trust Short Report for the year ended 31 May 2016 Investment Objective and Policy The objective of the Fund is to provide a total positive return above the IMA Mixed Investment 40%-85% Shares
More informationElite CAM Balanced Discretionary Portfolio
Elite CAM Balanced Discretionary Portfolio Short Report for the year ended 31 May 2016 Investment Objective and Policy The investment objective of the Fund is to provide a total return with an emphasis
More informationWAY Global Momentum Fund
WAY Global Momentum Fund Short Report for the six months ended 31 August 2016 Investment Objective and Policy The objective of the Fund is to achieve long-term capital growth. The Fund aims to achieve
More informationFP Frontier MAP Balanced Fund
FP Frontier MAP Balanced Fund Short Report for the year ended 31 May 2016 Investment Objective and Policy The aim of the Fund is to provide Shareholders with medium to long term investment growth through
More informationWAY Absolute Return Portfolio Fund
WAY Absolute Return Portfolio Fund Short Report for the six months ended 30 September 2015 Investment Objective and Policy The objective of the Fund is to achieve long term capital appreciation in the
More informationWAY Global Momentum Fund
WAY Global Momentum Fund Short Report for the six months ended 31 August 2014 Investment Objective and Policy The objective of the Fund is to achieve long-term capital growth. The Fund aims to achieve
More informationFP Verbatim Portfolio 5 Income Fund
FP Verbatim Portfolio 5 Income Fund Short Report for the six months ended 30 June 2016 Investment Objective and Policy The Fund will use a broadly cautious balanced investment strategy with the aim of
More informationFP 8AM Multi-Strategy Portfolio I
FP 8AM Multi-Strategy Portfolio I Short Report for the year ended 30 June 2016 Investment Objective and Policy The objective of the Fund is to achieve long term capital growth. The Fund will aim to operate
More informationWAY Global Momentum Fund
WAY Global Momentum Fund Short Report for the six months ended 31 August 2015 Investment Objective and Policy The objective of the Fund is to achieve long-term capital growth. The Fund aims to achieve
More informationFP Verbatim Portfolio 5 Income Fund
FP Verbatim Portfolio 5 Income Fund Short Report for the year ended 31 December 2015 Investment Objective and Policy The Fund will use a broadly cautious balanced investment strategy with the aim of achieving
More informationFP Matterley Regular High Income Fund
FP Matterley Regular High Income Fund Short Report for the six months ended 31 July 2016 Investment Objective and Policy The investment objective of the FP Matterley Regular High Income Fund is to generate
More informationInterim Report & Financial Statements. WAY Momentum Portfolio. For the six months ended 31 August 2018 (unaudited)
Interim Report & Financial Statements WAY Momentum Portfolio For the six months ended 31 August 2018 (unaudited) contents WAY Momentum Portfolio Page Authorised Corporate Director s ( ACD ) Report* 3 Certification
More informationWAY MA Cautious Portfolio Fund
WAY MA Cautious Portfolio Fund Short Report for the year ended 31 March 2016 Investment Objective and Policy The objective of the Fund is to seek capital growth, achieved through investment in a portfolio
More informationInterim Report & Financial Statements. FP Pictet OEIC. For the period ended 31 March 2016 (unaudited) FUND PARTNERS
Interim Report & Financial Statements FP Pictet OEIC For the period ended 31 March 2016 (unaudited) FUND PARTNERS contents Page FP Pictet OEIC Authorised Corporate Directors ( ACD ) Report* 3 Certification
More informationFP Wheb Sustainability Fund
FP Wheb Sustainability Fund Short Report for the year ended 28 February 2016 Investment Objective and Policy The aim of the Fund is to achieve capital growth over the medium to longer term. The Fund will
More informationFP Matterley UK & International Growth Fund
FP Matterley UK & International Growth Fund Short Report for the six months ended 31 July 2015 Investment Objective and Policy The investment objective of the FP Matterley UK and International Growth Fund
More informationAVIVA INVESTORS PORTFOLIO FUNDS ICVC
AVIVA INVESTORS PORTFOLIO FUNDS ICVC SHORT REPORT For the year ended 28 February 2015 Contents Aviva Investors Multi-Manager Flexible Fund 2 Aviva Investors Multi-Manager 40-85% Shares Fund 8 Aviva Investors
More informationFP WHEB Sustainability Fund
FP WHEB Sustainability Fund Short Report for the six months ended 31 August 2014 Investment Objective and Policy The aim of the Fund is to achieve capital growth over the medium to longer term. The Fund
More informationWAY Fund Managers Limited. WAY Global Cautious Portfolio Fund
Fund Partners WAY Fund Managers Limited WAY Global Cautious Portfolio Fund Interim Short Report for the period from 1 April 2013 to 30 September 2013 Interim Short Report for the period from 1 April 2013
More informationSchroder Multi-Manager Cautious Managed Fund. Interim Short Report 1 October 2013 to 31 March 2014
Schroder Multi-Manager Cautious Managed Fund Interim Short Report 1 October 2013 to 31 March 2014 Schroder Multi-Manager Cautious Managed Fund Review of Investment Activities From 30 September 2013 to
More informationInterim Report & Financial Statements. FP SCDavies Funds. For the six months ended 31 August 2016 (unaudited) FUND PARTNERS
Interim Report & Financial Statements FP SCDavies Funds For the six months ended 31 August 2016 (unaudited) FUND PARTNERS contents FP SCDavies Funds Page Authorised Corporate Director s ( ACD ) Report*
More informationQuarterly Range Report
Quarterly Range Report MyFolio Market Range - Q3 2018 OEIC Ret MyFolio Market Ratings MyFolio is a flexible solution consisting of 25 multi-asset funds of funds, split into five ranges (three growth and
More informationSchroder Managed Balanced Fund Interim Report and Accounts August 2018
Interim Report and Accounts August 2018 August 2018 Contents Fund Information 1 3 Investment objective and policy 3 Financial highlights 3 Fund information 3 Ongoing charges figure 4 Total purchases and
More informationLegal & General Multi Manager Income Trust Annual Manager s Short Report for the year ended 15 January Distribution Number 35
Legal & General Multi Manager Income Trust Annual Manager s Short Report for the year ended 15 January 2017 Distribution Number 35 Investment Objective and Policy The investment objective is to achieve
More informationAviva Investors. For the year ended 28 February avivainvestors.co.uk
Aviva Investors PORTFOLIO FUNDS ICVC Short Report For the year ended 28 February 2013 avivainvestors.co.uk Contents Aviva Investors Fund of Funds Growth Fund 2 Aviva Investors Fund of Funds Balanced Fund
More informationCirilium Moderate Passive Fund MODERATE
MODERATE Interim Short Report Fund Manager Paul Craig Investment objective and policy To achieve long term capital growth. The portfolio will be moderate in that it will be broadly diversified across asset
More informationInterim Report & Financial Statements. Elite Income Trust. For the six months ended 30 November 2017 (unaudited)
Interim Report & Financial Statements Elite Income Trust For the six months ended 30 November 2017 (unaudited) contents Elite Income Trust Page Authorised Fund Manager s ( AFM ) Report* 3 Certification
More informationManaged Portfolios from OBSR December 2012
Managed Portfolios from OBSR December 2012 WHAT ARE THE MANAGED PORTFOLIOS FROM OBSR? The Managed Portfolios from OBSR are a range of five funds designed to actively target and maintain different levels
More informationMyFolio Multi Manager Range Report
MyFolio Multi Manager Range Report Standard Life Investments has not considered the suitability of investment against your individual needs and risk tolerance. To ensure that you understand whether a financial
More informationAberdeen Asia Pacific Equity Enhanced Index Fund
Aberdeen Asia Pacific Equity Enhanced Index Fund Interim short report for the period ended 30 June 2016 Investment objective and policy The Fund aims to achieve long-term capital growth by investing in
More informationManaged Portfolio Service
Managed Portfolio Service Defensive Portfolio Factsheet MARCH 2019 MARKET OVERVIEW The cautiously optimistic tones that have been heard across markets this year continued throughout the month of March.
More informationSimplified Prospectus
Simplified Prospectus (Incorporating the ISA Terms & Conditions) FP Allium Portfolio Funds Valid as at 16th November 2015 0 Helping you decide What you should know before you invest This document gives
More informationElite LJ Portfolio Fund
Fund Managers WAY Fund Managers Limited Elite LJ Portfolio Fund Annual Short Report for the year ended 30 April 2013 ELITE LJ PORTFOLIO FUND Authorised Corporate Director s Report and Financial Statements
More informationQuarterly Range Report
Quarterly Range Report MyFolio Market Range - Q1 2019 Pension Insured Funds S4 Retail MyFolio Market MyFolio is a flexible solution consisting of 25 multi-asset funds of funds, split into five ranges (three
More informationAberdeen Investment Funds ICVC
Aberdeen Investment Funds ICVC Prospectus January 2010 ECONOMIC INFORMATION This document is important. If you are in any doubt as to the meaning of any information in this document, you should consult
More informationShort report For the year ended 31 Dec 2016
Short report For the year ended 31 Dec 2016 Architas MA Active Intermediate Income Fund For the year ended 31 Dec 2016 Investment objective The aim of the Fund is for you to receive an above average level
More informationSchroder Multi-Manager High Alpha Fund. Final Short Report 16 March 2014 to 15 March 2015
Schroder Multi-Manager High Alpha Fund Final Short Report 16 March 2014 to 15 March 2015 Schroder Multi-Manager High Alpha Fund Review of Investment Activities From 14 March 2014 to 24 October 2014, the
More informationInstitutional Growth Fund
Schroder Institutional Growth Fund Interim Report and Accounts December 2017 Contents Schroder Institutional Growth Fund Fund Information 1...............................................3 Investment objective
More informationInterim Report & Financial Statements. FP CAF Investment Fund For the six months ended 31 October 2018 (unaudited)
Interim Report & Financial Statements FP CAF Investment Fund For the six months ended 31 October 2018 (unaudited) Contents FP CAF Investment Fund Page Authorised Corporate Director's ("ACD") Report* 3
More informationQuarterly Range Report
Quarterly Range Report MyFolio Managed Range - Q2 2018 OEIC Platform 1 MyFolio Managed Ratings MyFolio is a flexible solution consisting of 25 multi-asset, fund-of-funds, split into five ranges (three
More informationAberdeen Multi-Asset Growth 2 Portfolio
Aberdeen Multi-Asset Growth 2 Portfolio Annual short report for the year ended 31 October 2016 Investment objective and policy To achieve long term total return. The Portfolio aims to achieve long term
More informationSAMPLE. Adventurous Portfolio. Create your tomorrow. Quarterly Review July 2018
Adventurous Portfolio Quarterly Review July 2018 Create your tomorrow Q3 Our investment committee carried out the quarterly review of our governed investment portfolios. The information that follows summarises
More informationAberdeen Diversified Growth Fund
Aberdeen Diversified Growth Fund Annual short report for the year ended 31 October 2016 Investment objective and policy To achieve long term total return with lower volatility than equities. Note: The
More informationLegal & General Multi Manager Growth Trust. Annual Manager s Short Report for the year ended 15 January Distribution Number 6
Legal & General Multi Manager Growth Trust Annual Manager s Short Report for the year ended 15 January 2011 Distribution Number 6 Investment Objective and Policy The investment objective is to provide
More informationThreadneedle Navigator Growth Managed Trust
Annual Short Report 1 June 2017 Fund Manager s Report Alex Lyle Performance Over the twelve months to 1 June 2017, the offer price of accumulation units rose by 21.60% from 125.90p to 153.10p. In view
More informationQuarterly market summary
Quarterly market summary 2nd Quarter 2017 Economic overview Economic indicators, such as employment statistics, manufacturing activity and company profits, seem to indicate that the global economy is recovering
More informationJH Defensive Income. 31 st December Portfolio Objective. Risk Range. Performance chart. Product mix. Geographic & asset breakdown
JH Defensive Income 31 st December 2016 Portfolio Objective The strategy aims to deliver defensive total returns with an emphasis on offering above average* income. The portfolio may invest between 35%
More informationMM Navigator Return Focused Range MM Lifestyle Risk Targeted Range
CM15588 UK For professional investors only MM Navigator Return Focused Range MM Lifestyle Risk Targeted Range July 2018 Investment risks The value of investments and income derived from them can go down
More informationAnnual Report & Financial Statements. WAY MA Portfolio. For the year ended 31 March 2017
76 93 Annual Report & Financial Statements 96 WAY MA Portfolio For the year ended 3 March 207 contents WAY MA Portfolio Page Authorised Corporate Director s ( ACD ) Report* 3 Certification of Financial
More informationKB Elite Multi Asset Balanced Fund
KB Elite Multi Asset Balanced Fund Quarterly update, Q4 2014 For professional use only Key events in Q4 2014 October Islamic state forces besiege the Syrian border town of Kobane Bank of Japan announces
More informationSMARTFUND AGGRESSIVE GROWTH
SMARTFUND AGGRESSIVE GROWTH Short report Period 04 November 2014 to 03 May 2015 Smartfund Aggressive Growth Short report Period 04 November 2014 to 03 May 2015 Investment objective Asset allocation as
More informationAnnual Report & Financial Statements. The FP Mattioli Woods Funds ICVC (previously The FP Thoroughbred Funds ICVC) For the period ended 28 July 2017
76 93 Annual Report & Financial Statements 96 The FP Mattioli Woods Funds ICVC (previously The FP Thoroughbred Funds ICVC) FUND PARTNER contents The FP Mattioli Woods Funds ICVC Page Authorised Corporate
More informationLegal & General Multi Manager Balanced Trust. Annual Manager s Short Report for the year ended 15 January Distribution Number 6
Legal & General Multi Manager Balanced Trust Annual Manager s Short Report for the year ended 15 January 2011 Distribution Number 6 Investment Objective and Policy The investment objective is to achieve
More informationInvestment Report. Standard Life Corporate Investment Proposition MyFolio Managed Pension Funds Report Q2 2018
Investment Report Standard Life Corporate Investment Proposition Q2 2018 Corporate Investment Proposition Our Corporate Investment Proposition is made up of a family of carefully constructed risk-based
More informationQuarterly market summary
Quarterly market summary 3rd Quarter 2017 Economic overview Economic data released during the quarter seemed to signal a continuation of synchronised global recovery in almost all regions. This is being
More informationSimplified Prospectus
Simplified Prospectus (Incorporating the ISA Terms & Conditions) FP Verbatim s Valid as at 1 st July 2016 Helping you decide What you should know before you invest This document gives you a summary of
More informationPerformance to 31 st December Fund Factsheet. IFSL Sinfonia Risk Targeted Fund Range
Performance to 31 st December 2017 Fund Factsheet IFSL Sinfonia Risk Targeted Fund Range IFSL Sinfonia OEIC Portfolios Performance to 31 st December 2017 Investment Commentary Market Overview Global equities
More informationLife Fund November 2017
Life Fund November 2017 Aviva Life F&C MM Navigator Distribution Acc S2 FPL This factsheet provides factual information only. The information shown should not be used in isolation for making buying and
More informationAnnual Report & Financial Statements. WAY Momentum Portfolio
Annual Report & Financial Statements WAY Momentum Portfolio contents WAY Momentum Portfolio Page Authorised Corporate Director s ( ACD ) Report* 3 Certification of Financial Statements by Directors of
More informationKB Elite Multi Asset Growth Fund. Quarterly update, Q1 2014
KB Elite Multi Asset Growth Fund Quarterly update, Q1 2014 Key events in Q1 2014 January China releases economic data for 2013 showing slowest rate of growth since 1999 Russia hosts 2014 Winter Olympics
More informationM&G Managed Fund. M&G Investment Funds (4) Annual Short Report December For the year ended 31 October 2010
M&G Investment Funds (4) Annual Short Report December 2010 For the year ended 31 October 2010 M&G Managed Fund a sub-fund of M&G Investment Funds (4) AUTHORISED CORPORATE DIRECTOR S REPORT Investment objective
More information7IM US EQUITY VALUE FUND
7IM US EQUITY VALUE FUND A Sub-fund of 7IM Specialist Investment Funds Annual Short Report for the year ended 31 May 2016 Investment Objective and Policy The objective of the 7IM US Equity Value Fund (the
More informationQuarterly market summary
Quarterly market summary 4th Quarter 2016 Economic overview Economies around the world appear to be relatively resilient, with data signalling that in many countries, economic activities are expanding
More informationDistribution Number 13. Legal & General Multi Manager Income Trust Interim Manager s Report for the period ended 15 July 2011 (Unaudited)
Distribution Number 13 Legal & General Multi Manager Income Trust Interim Manager s Report for the period ended 15 July 2011 (Unaudited) Contents Page Number Manager s Investment Report 2 Authorised Status
More informationThreadneedle Dynamic Real Return Fund
Interim Short Report 25 November 2017 Fund Manager s Report Toby Nangle Performance of Class 2 Income shares* Over the six months to 25 November 2017, the published of the Threadneedle Dynamic Real Return
More informationFP CRUX UCITS OEIC Prospectus
FP CRUX UCITS OEIC Prospectus Prepared in accordance with the Collective Investment Schemes Sourcebook Dated and valid as at: 23 May 2016 Authorised Corporate Director Fund Partners Limited Cedar House
More informationSAMPLE. Adventurous Portfolio. Create your tomorrow. Quarterly Review November 2018
Adventurous Quarterly Review November 2018 Create your tomorrow Q4 Our Investment Committee carried out the quarterly review of our Governed Investment s. The information that follows summarises their
More informationFund Management Monthly Commentary
Fund Management Monthly Commentary Covering the month of September 2018 September Market Update Margetts monthly diary summarises major economic and market developments that occur over the month. It is
More informationPerformance to 31 st January Fund Factsheet. IFSL Sinfonia Risk Targeted Fund Range
Performance to 31 st January 2018 Fund Factsheet IFSL Sinfonia Risk Targeted Fund Range IFSL Sinfonia OEIC Portfolios Performance to 31 st January 2018 Investment Commentary Market Overview The focus in
More informationAberdeen Investment Funds ICVC
Aberdeen Investment Funds ICVC Prospectus July 2010 ECONOMIC INFORMATION This document is important. If you are in any doubt as to the meaning of any information in this document, you should consult your
More informationKB Elite Multi Asset Conservative Fund. Quarterly update, Q1 2014
KB Elite Multi Asset Conservative Fund Quarterly update, Q1 2014 Key events in Q1 2014 January China releases economic data for 2013 showing slowest rate of growth since 1999 Russia hosts 2014 Winter Olympics
More informationInvestment Report. Corporate Investment Proposition Passive Plus Funds Report. Standard Life
Investment Report Standard Life Corporate Investment Proposition Q1 2017 Corporate Investment Proposition 1 Our Corporate Investment Proposition is made up of a family of carefully constructed risk-based
More informationInvestment Update UK Institutional Funds April 2018
Investment Update UK Institutional Funds April 2018 This communication is intended for investment professionals only and must not be relied on by anyone else. After some deceleration in global activity
More informationQuarterly Range Report
Quarterly Range Report Active Plus Range - Q3 2018 Pension Insured Funds S4 Retail Active Plus There are five Active Plus Pension Funds, ranging from lower through to higher risk (I to V). Each fund invests
More informationMI Momentum Investment Funds
MI Momentum Investment Funds Interim Report 31 December 2016 MI Momentum Investment Funds Contents Page Directory..................................................................1 Basis of Accounting.........................................................2
More informationQuarterly market summary
Quarterly market summary 1st Quarter 2017 Economic overview Data appears to signal that economic activity is picking up around the world, with many forecasts for growth being revised upwards. This has
More informationInvestment Update Retail Pension November 2018
Investment Update Retail Pension November 2018 This communication is intended for investment professionals only and must not be relied on by anyone else. Investment Indices - Annual growth up to 01/11/2018
More informationDEFENSIVE MODEL PORTFOLIO
DEFENSIVE OBJECTIVE This portfolio is designed for investors who are only prepared to accept very limited risk to capital from investing in financial markets and are therefore more willing to accept a
More informationThe Charity Multi-Asset Fund. Interim Report and Accounts September 2017
Interim Report and Accounts September 2017 Contents The Charity Multi-Asset Fund Fund Information 1...............................................3 Investment objective and policy......................................3
More informationManaged Balanced Fund
Schroder Managed Balanced Fund Final Report and Accounts February 2018 Contents Schroder Managed Balanced Fund Fund Information 1...............................................3 Investment objective and
More informationdiversification Levels of Multi-Asset (MA) Blended Funds
diversification Levels of Multi-Asset (MA) Blended Funds LEVELS OF DIVERSIFICATION At Architas we believe that diversification is central to any investment portfolio. Being too concentrated in any one
More informationMarket Outlook March 2015 Euro equities: Beyond political risks. By Citi EMEA Consumer Bank
Market Outlook March 2015 Euro equities: Beyond political risks By Citi EMEA Consumer Bank Equities Markets Feature On 22 January 2015, the European Central Bank (ECB) announced its long-awaited large
More informationRNPFN Managed Growth Fund. Investment Report 2016
RNPFN Managed Growth Fund Investment Report 2016 RNPFN Managed Growth Fund Investment Report 2016 This information does not constitute investment advice and we recommend that you speak to a suitably qualified
More informationEQUATOR ICAV An Irish collective asset-management vehicle established as an umbrella fund with segregated liability between sub-funds
An Irish collective asset-management vehicle established as an umbrella fund with segregated liability between sub-funds Condensed Unaudited Semi-Annual Report and Accounts For the financial period ended
More informationLegal & General Multi Manager Income Trust Interim Manager s Short Report for the period ended 15 July Distribution Number 37
Legal & General Multi Manager Income Trust Interim Manager s Short Report for the period ended 15 July 2017 Distribution Number 37 Investment Objective and Policy With effect from 6 June 2017, the Trust
More informationSchroder MM International Fund. Interim Short Report 29 February 2016 to 31 August 2016
Schroder MM International Fund Interim Short Report 29 February 2016 to 31 August 2016 Review of Investment Activities From 26 February 2016 to 31 August 2016, the price of A Accumulation units on a dealing
More informationVanguard LifeStrategy Funds ICVC
Interim Report and Financial Statements For the six months ended 30 September 2017 Vanguard LifeStrategy Funds ICVC (An open-ended investment company incorporated with limited liability and registered
More informationA closer look at your fund A comprehensive explanation of performance and the outlook for your fund
A closer look at your fund A comprehensive explanation of performance and the outlook for your fund To accompany the M&G Fund of Investment Trust Shares Annual Short Report August 2014 for the year ended
More informationDefensive Income Fund
Defensive Income Fund Data as at 31.05.16 Fund facts Fund Managers: Alignment to risk profiling tools: Jonathan Webster-Smith Mark Shields Jim Mackie Fund overview The fund is actively managed and invests
More informationStand-alone Risk Exposure % Closed Closed Closed
Jan 2019 Global Absolute Return Fund 31 January 2019 The Standard Life Investments Global Absolute Return Fund aims to provide positive investment returns in all market conditions over the medium to long
More informationDistribution Number 7. Legal & General Multi Manager Growth Trust Interim Manager s Report for the period ended 15 July 2011 (Unaudited)
Distribution Number 7 Legal & General Multi Manager Growth Trust Interim Manager s Report for the period ended 15 July 2011 (Unaudited) Contents Page Number Manager s Investment Report 2 Authorised Status
More informationLegal & General Multi Manager Income Trust Interim Manager's Report for the period ended 15 July 2017 (Unaudited) Distribution Number 37
Legal & General Multi Manager Income Trust Interim Manager's Report for the period ended 15 July 2017 (Unaudited) Distribution Number 37 Contents Page Number Manager's Investment Reportempty 2 Authorised
More informationIMPORTANT FUND INFORMATION.
INVESTOR PORTFOLIO SERVICE (IPS) IMPORTANT FUND INFORMATION. PANEL B This guide gives you further information about funds that were previously available and supports the Key Investor Information Document.
More informationOptimum Investment Management Enterprise Fund
Optimum Investment Management Enterprise Fund Annual Short Report For the year ended 30 November 2015 Optimum Investment management Enterprise Fund Short Report For the year ended 30 November 2015 Fund
More informationDefensive Income Fund
Defensive Income Fund Data as at 31.07.16 Fund facts Fund Managers: Alignment to risk profiling tools: Jonathan Webster-Smith Mark Shields Jim Mackie Fund overview The fund is actively managed and invests
More information