I hope, like me, regular readers have enjoyed Chief Investment Officer Chris Bailey’s stimulating weekly bulletins. Sharing with investors our latest reading of global markets is a key feature of our Fund. Following the introduction of our GDPR Privacy Policy I would like to invite those readers who have shown interest in the Fund to consider making an investment. After the 9 months since the launch with the backing of pioneer investors I feel able to draw attention to a number of milestones:

  • Investment Committee, Operations and Compliance processes bedded in
  • 8 completed bought and sold trades with gains of 10% or more
  • 4 ‘top-sliced’ trades with gains of 10% or more
  • 1 completed trade resulting in a 2% loss and 3 other exposures trimmed at a loss
  • Current portfolio of 36 companies, each with the potential to appreciate significantly
  • Growing dividend flow now running at 3% plus
  • NAV breaking even after all costs over the last two months

By focusing on ‘Anomaly Investing’ (i.e. stocks that have fallen excessively in price either for no obvious reason or for reasons that are no longer applicable) I believe the Fund offers something different within a broad-based portfolio of investments. The current NAV of around £90 represents a 10% discount for new investors as well as a reminder that price movements require the Fund to be classified as Medium to High Risk despite the liquidity and safety of our selecting stocks of companies with a market cap of $1bn or more and listed on major exchanges. As a UCITS Fund, it is eligible for ISAs and SIPPS. For existing Daniel Stewart clients the easiest way to invest is via your relationship manager but the Fund is also available via the Transact and AJ Bell’s YouInvest platforms.

Peter Shea, Chief Executive