Factsheet - December 2020  

FUND FACTS

Portfolio Advisor

Fund Launch Date

Fund Type

Base Currency

Investment Manager

Administrator

Depository

Auditor

Dealing

Initial Charge

Performance Fee

Mark Ellis

18th May 2020

Dublin UCITS Fund

GBP

Thornbridge Investment Management LLP Northern Trust

Northern Trust Int FS (Ireland) Ltd

KPMG

Daily

0.0%

0.0%

Thornbridge Nutshell Global Equity UCITS Fund

INVESTMENT OBJECTIVE

PORTFOLIO OBJECTIVE

  • 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.

INVESTMENT STRATEGY

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.

PORTFOLIO FACTS

NAV (GBP,USD IF Class)

Fund Size

No. Holdings

Average Market Cap

98.33, 109.55, 98.49

£23.7mn

28

£281bn

GEOGRAPHICAL ALLOCATION

US
Hong Kong

Denmark

Sweden

France
UK
Cash & Other

%

74.2

8.9

6.7

3.3

2.9

2.4

1.6

SECTOR ALLOCATION

 

Information Technology

 

Health Care

 

Communication Services

 

Consumer Discretionary

 

Financials

Cash & Other

%

 

33.3

 

 

20.7

 

 

19.0

 

 

13.3

 

 

12.1

1.6

MONTHLY COMMENT

The Nutshell Global Equity Strategy GBP share class returned 1.72% during December. The top 3 contributors for the month were Qualys, Oracle and Eli Lilly. While the top 3 detractors were Alibaba, S&P Global and Facebook. The pound rallied significantly during the month. Hopefully now the Brexit trade deal is behind us the adverse currency moves on the GBP share class will be more muted.

TOP 10 HOLDINGS

 

• Novo Nordisk

 

• Facebook

 

• Tencent

 

• Microsoft

 

• Adobe

• Accenture

• Qualys

• S&P Global

• Biogen

• Alphabet

SHARE CLASS DETAILS (GBP)

SHARE CLASS

Institutional Founder

Institutional

Retail

MAX OCF

1.59%

1.74%

1.89%

AMC

0.85%

1.00%

1.15%

MINIMUM

£10m

£1m

£1,000

ISIN

IE00BLP46L65

IE00BLP46Q11

IE00BLP46V63

CAPITAL PRESERVATION, LIQUIDITY AND PORTFOLIO STATISTICS

3 Pillar Approach

Robust Stock Selection

Relative Value

Recession Indicator

Currently Active

Yes

No

No

  • Beta slightly increased, still below the index

  • Portfolio holdings stable with 28 positions

Liquidity-Market Cap Distribution

Liquidity- market cap distribution chart dec 2020

P/E

Return on Equity %

Profit Margin %

Historica Beta

Av Market Cap

PORTFOLIO

27.8

83.3

26.8

0.96

$384bn

MSCI WORLD

21.3

7.9

5.9

1.00

$36.5bn

THORNBRIDGE NUTSHELL GLOBAL EQUITY UCITS (GBP IF Share Class)

*Fund Launched 18th May with the majority of the portfolio not established until the last day of the month.

HISTORICAL STRATEGY PERFORMANCE*

CUMULATIVE RETURNS

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.

 

Historical Factsheets

December 2020

31st December 2020

November 2020

30th November 2020

October 2020

30th October 2020

September 2020

30th September 2020

August 2020

28th August 2020

July 2020

31st July 2020

June 2020

30h June 2020

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which is authorised and regulated by the Financial Conduct Authority.

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