Our funds specialist returns form a summer break with a new addition to the Prudent 15. It’s a lending fund that has built up a solid track record and offers cautious, income-oriented investors a solid 8% plus yield. My latest addition to the Prudent 15 is a slightly alternative income-oriented fund that has built up […]
Our funds specialist returns with a star performer in the relatively unloved European equities space: Montanaro European Smaller Companies Trust. He reckons now is the time to focus on fast growing European small caps. This week I have a relatively short note for you, outlining why I think now might be an interesting moment to […]
Our funds specialist returns with another new suggestion for the Dynamic 35, Digital 9 Infrastructure, although he argues it could also sit inside the Prudent 15 list as well. This fund is an asset-backed infrastructure fund with an exciting technology customer base who want to buy into a new digital world through mobile phone towers, […]
Our funds expert turns his attention to the slowly recovering property-focused real estate investment trusts sector. His new addition to the Dynamic 35 is a very actively managed pan European fund of funds that invests across a wide range of real asset-backed niches.
Investing in mining stocks is always a speculative exercise. Where are we in the cycle?
In these articles about funds, I have tended to steer clear of the many, many alternative funds listed on the London market. That is not because these funds are not interesting – many of them are – but because I felt their business model hasn’t entirely been proved.
Private equity fund in transition – new addition to Dynamic 35 Listed private equity funds have had a chequered record on the London Stock Exchange. On paper they are a great innovation, allowing private investors access to usually institutional grade alternative assets. Crucially they allow investors to put money to work in profitable, scaled up […]
Back in the middle of August I outlined two growth-oriented portfolios, comprising a gaggle of exchange traded funds. The first was a Global Trends portfolio, a collection of eight ETFs which aim to track a selection of key thematic big trends. To monitor performance, I established two live portfolios on the SharePad platform, with the […]
“While we have this euphoria it’s pretty hard to imagine the bubble breaking. But look at the data and you think this thing could go…” (Grantham, GMO, Dec 2020). “In every portfolio, you need to ask yourself what is going to be more relevant [in] five to 10 years versus today. The most interesting trend […]
Traditionally most investors tend to regard the division between developed markets (DM) and emerging markets (EM) as a simple divide. We all put more money in the DM but then try and make sure we have some, smaller exposure, to the broad gaggle of national markets which represents the developing world or EM for short. […]
This week I have a very adventurous addition to my list of 35 Dynamic funds. I admit that it’s not without risk and its recent track record hasn’t been fab if I’m honest but I think the seeds for a rapid turnaround are being laid and if nothing else a future redemption opportunity might provide […]
A new addition to the Dynamic 35 Aurora Investment trust I wanted to start this article with an immediate declaration. I am a non-executive director at my new addition to the Dynamic 35, the Aurora investment trust. As a general rule I tend not to discuss any fund where I have some form of professional […]
I have a new addition to my Dynamic 35 list of investment trusts and closed end funds. It is called RTW Venture and it is a venture capital fund which invests in life sciences businesses – mainly in the biotech and MedTech space. Its key differentiator is that it invests in later stage private businesses […]
This week I am focusing not on my usual subject of investment trusts but switching attention to exchange traded funds or ETFs. These are a useful vehicle for investors, and I think they can easily sit alongside investment trusts. What do I mean by that? Let’s say for instance that you want to have exposure […]
I do not think it is unfair to say that over the last decade we have seen a powerful shift in sentiment towards utility stocks, arguably in a very negative direction. For much of the last few decades, private investors could not get enough of these boring stocks. They paid out a generous dividend, seem […]
The safe bet on infrastructure: INPP (International Public Partnerships) Over the next couple of articles, we’ll be adding two new funds to our Prudent 15 list, both in the broad infrastructure and utilities space. My next article will be on a fund that invests very broadly in the shares of other infrastructure and utility companies […]
Witan – a long term buy and hold globalist fund with a value bias Investing should really be about simplicity. Take global investing. Nearly every investor should have some exposure to a globally diversified mix of developed world stock markets. How big that exposure depends on your risk tolerance and your own appetite for global […]
The SDCL Energy Efficiency Income Trust The idea of investing in a fund which will help facilitate the transition towards a more sustainable energy mix has spawned a small army of London listed closed end funds and investment trusts. At last count there are over a dozen such funds listed and with all of them […]
A smarter way of buying into the right kind of private growth businesses It is an unfortunate truth that more and more high growth businesses are choosing to stay private and ignore the public markets. Collectively we investors, institutional and private have done our best to make life difficult for highly rated , fast growing […]
Edinburgh Worldwide – a great long-term home for growth investors Investors in funds such as Scottish Mortgage will have noticed a very peculiar phenomenon over the last few turbulent weeks. On paper many of the growth-oriented businesses sitting in its portfolio stand on huge valuations (very high price to earnings ratios) which means that they […]
The Ruffer Investment Company – big bets on a global new normal “There are decades where nothing happens; and there are weeks where decades happen” Lenin Generally, I have a very dismissive attitude towards the idea of absolute returns funds. The concept sounds alluring, whereas the delivery tends to be fairly dismal. The key idea […]
A big bet on Fintech worth taking at this price – Augmentum OK, I’m not going to beat around the bush. l readily concede that now is not a great time, all things considered, to be talking about investing in a high-risk venture capital fund that invests in equally high risk private European fintech firms, […]
Kicking off with BH Global (BHGG) You can always read more about my views on funds at my blog www.adventurousinvestor.com. I update this most days, especially useful during these volatile times when new investment opportunities emerge very quickly. I’m not going to bore readers with speculation about viruses and volatility but simply ask them to […]
Richard reads Fundsmith Equity Fund’s annual letter to fundholders and suggests a modest improvement that could change your perception of financial history. He also responds to reader’s queries about On The Beach, the company he profiled two weeks ago. If you are a fundholder in Fundsmith Equity Fund, then congratulations. You’ve just received fund manager […]