Factsheet - February 2021
Fund Launch Date
18th May 2020
Dublin UCITS Fund
Thornbridge Investment Management LLP Northern Trust
Northern Trust Int FS (Ireland) Ltd
Thornbridge Nutshell Global Equity UCITS Fund
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.
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
97.68, 111.30, 100.84
Cash & Other
Cash & Other
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%
• O'Reilly Automative
• Veeva Systems
SHARE CLASS DETAILS (GBP)
CAPITAL PRESERVATION, LIQUIDITY AND PORTFOLIO STATISTICS
3 Pillar Approach
Robust Stock Selection
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
*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