Chelverton Fund9 Mar 2018 20:15
From Fund Factsheet May 2017
MI Chelverton UK Equity Growth Fund Investment Objective and Policy
The objective of the Fund is to achieve long-term capital growth by investing primarily in a portfolio of fully listed and AIM traded UK equities.
Investment Approach
The Fund Managers are looking for companies that can both grow faster than the market and are highly cash generative enabling them to fund their own growth. Typically these companies will have some form of sustainable competitive advantage, such as a unique product, or a dominant position in a particular market, leading to high margins and the ability to generate surplus cash.
Monthly Manager Commentary
...........We also started holdings in Castleton Technologies, an IT solutions and managed service provider to the UK social housing market, and Jackpot..........
With UK economic growth showing signs of stalling, we are focusing more and more on companies with resilient revenue streams, overseas exposure and structural growth opportunities, which hopefully will still drive growth in a slowing economic environment. With the Fund having performed relatively well so far this year we are constantly looking to engineer better value into the portfolio, which explains our new investments above.