Factsheet - September 2020 Downloadable Version
Fund Launch Date
18th May 2020
Dublin UCITS Fund
Thornbridge Investment Management LLP
Northern Trust Int FS (Ireland) Ltd
Thornbridge Nutshell Global Equity UCITS Fund
Long term global equity investment. Focused buy and hold strategy in a concentrated portfolio of quality, resilient, exceptional companies at reasonable valuations.
To achieve returns annually in excess of both peers and the global equity markets, with reduced volatility and drawdown periods.
To align selection with ethical values, using Environmental, Social and Governance factors including sector exclusions e.g. Fossil Fuels, Tobacco and Gambling.
The strategy utilizes an in-house proprietary ‘bottom up’ investment selection process. This encompasses many fundamental, technical and valuation factors, researched over many years.
These factors have contributed to significant outperformance in normal market conditions, and reduced beta, and therefore losses, when the broader equity markets suffer.
NAV (GBP,USD IF Class)
Average Market Cap
TOP 10 HOLDINGS
• Novo Nordisk
• S&P Global
• Automatic Data Processing
The Nutshell Global Equity Strategy GBP share class returned 0.11% during September. The top 3 contributors for the month were Novo Nordisk, Euronext and Oracle. While the top 3 detractors were Facebook, Alphabet and Microsoft. During the month we removed our residual short index hedge. We envisage being fully invested for the foreseeable future. Our robust stock selection preserved capital in what was the most volatile month since March.
SHARE CLASS DETAILS (GBP)
CAPITAL PRESERVATION, LIQUIDITY AND PORTFOLIO STATISTICS
3 Pillar Approach
Robust Stock Selection
• Beta increased as short index hedge removed
• Portfolio maintained at 30 holdings to diversify risk
• Weak GBP insulated the fall in global markets somewhat
Liquidity-Market Cap Distribution
Return on Equity %
Profit Margin %
Av Market Cap
THORNBRIDGE NUTSHELL GLOBAL EQUITY UCITS (GBP IF Share Class)
HISTORICAL STRATEGY PERFORMANCE*
*Fund Launched 18th May with the majority of the portfolio not established until the last day of the month.
CALENDAR YEAR RETURNS
*These returns are from private money invested in the strategy net of fees and transaction costs.
From June 2020 the strategy returns will replicate the Thornbridge Nutshell Global Equity UCITS Returns.