Factsheet - February 2021 

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 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

97.68, 111.30, 100.84

£23.5mn

29

£289bn

GEOGRAPHICAL ALLOCATION

US
Hong Kong

Canada
Denmark
UK

Japan
France

Sweden

Cash & Other

%

72.9

7.6

5.3

5.1

2.6

2.4

2.2

1.4

0.5

SECTOR ALLOCATION

 

Information Technology

Consumer Discretionary

Communication Services

Health Care

Financials

Consumer staples

Cash & Other

%

 

29.2

22.8

18.3

14.8

12.2

2.2

0.5

MONTHLY COMMENT

The Nutshell Global Equity Strategy GBP share class returned -1.44% during February. The top 3 contributors for the month were Intuit, Visa and Marketaxess. The top 3 detractors were Paradox Interactive, Qualys and Tencent. The Pound rallied around 1.8% versus the US Dollar over the period.

TOP 10 HOLDINGS   52.8%

 

  • Adobe

  • Facebook

  • Marketaxess

 

  • Novo Nordisk

  • Tencent

• Alphabet


• Lowe's


• Microsoft


• O'Reilly Automative


• Veeva Systems

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 still slightly below the index

  • Portfolio increased marginally to 29 holdings

Liquidity-Market Cap Distribution

THORNBRIDGE NUTSHELL GLOBAL EQUITY UCITS (IF Share Class)

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

HISTORICAL STRATEGY PERFORMANCE*/**

GBP CALENDAR YEAR RETURNS

GBP Calendar Year returns chart

*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. **Recession indicator triggered-Beta reduced to protect capital

 

Historical Factsheets

February 2021

26th February 2021

January 2021

29th January 2021

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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