LF Gresham House UK
Multi Cap Income Fund
Focusing on small and mid-cap companies and fundamentals-based stock-picking, our team aims to deliver attractive returns with a low correlation to its peer group.
Our disciplined process leverages the fundamentals-driven attributes of private equity, and our highly-resourced team has access to specialist expertise via an extensive network derived from their private-equity heritage.
We have a genuine smaller company focus and believe this sets us apart from our competitors and helps to generate low correlation. We also avoid benchmarking behaviours and cyclical risk wherever possible, adhering strictly to our investment process.
*Source: Gresham House, FE Analytics. Based on peer group of 83 funds in the IA UK Equity Income sector over three years to 30 September 2020. Past performance is not necessarily a guide to future performance. Capital at risk.
Reasons to invest
*Bloomberg and Link as at 30 September 2020
**Source: Gresham House and FE Analytics, based on the IA UK Equity Income sector over three years, as at 30 September 2020
Past performance is not necessarily a guide to future performance. Capital at risk
We focus on:
- Management – favouring high-quality, entrepreneurial teams
- Strategy – understanding how management are seeking to enhance strategic value
- Market opportunity – getting under the skin of the company’s addressable market and the dynamics likely to influence it
- Market position – assessing the company’s competitive advantages
- Financials – considering the profit and cash flow growth potential over the anticipated life of the investment, as well as quality of earnings and balance sheet strength
We interrogate potential stocks using proprietary research to evaluate the investment case and then assign a conviction score to each, based on the above fundamental components. This helps determine optimal weightings within the fund.
- Idea generation – drawing on a variety of sources, using our network of relationships
- Investment universe – we screen by size, sector, financial strength and valuation
- Target list – ideas reviewed weekly to identify management teams to meet
- Investment appraisal – we provide insight to the appraisal process through our smaller-company focus and private-equity techniques
- Conviction score – using a quantitative output, we rate conviction and use it to determine relative weightings in the fund
How has the Fund measured up to its objectives vs its peers?
Since launch*, the Fund has returned 22.45% against -13.54% for the IA UK Equity Income sector.
* Fund launch: 30 June 2017.
**Source: Gresham House and FE Analytics, based on the IA UK Equity Income sector, as at 30 September 2020
UK Equities And Income – Is The Worst Behind Us?
The UK equity market remains diverse and we believe income prospects outside the FTSE 100 remain overlooked and delivering robust, resilient and sustainable earnings has never been more important as the quest for dividends and dividend growth continues.
Register to join Fund Managers Ken Wotton, Brendan Gulston and financial journalist Adam Lewis in this live webinar
LF Gresham House UK Multi Cap Income Fund passed its
three-year anniversary milestone on 30 June 2020.
Listen to Ken Wotton and Brendan Gulston as they discuss how they have delivered the best performance in the IA UK equity income sector over three years against a challenging backdrop.*
*Source: Gresham House and FE Trustnet. Data is based on three years since launch: 30 June 2017-30 June 2020. Peer group of 84 funds during this period. Past performance is not necessarily a guide to future performance. Capital at risk
How to invest
Prospective investors can purchase shares directly from Link Fund Solutions Limited or through a professional adviser or other intermediary. Application forms can be obtained from Link Fund Solutions.
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