Fact sheet: VT de Lisle America

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
US EQUITIES
Sector
UT North America
Fund type
OEIC
Primary aim
GROWTH
Why Money Observer Rates VT de Lisle America

Rated Fund 2014-2017. Learning from the past in order to predict future winners

This relatively small £30 million fund is a past winner of Money Observer's Best Smaller North American Fund award. Manager Richard de Lisle specialises in investing in smaller US companies, which he prefers because of their tendency to outperform larger businesses over the long term.

But he starts off by identifying the sectors he believes will do well, bearing in mind the strength of the dollar and other trends in the US economy, and also by comparing the present with similar periods in the past. He then looks for individual companies that he believes will succeed in that environment.

In contrast to most managers who attempt to work out companies' future prospects, de Lisle describes his basic investment approach as backward-looking. He prefers to look at a company's past history rather than speculating about its future.

He justifies his approach by pointing out that if a company has been doing what it says it will do for the past 20 years then its culture must be strong. So when buying stock he likes to read the company's annual reports from 10 years ago before reading its current reports.

When assessing companies he says that sales per share are the most important variable as far as he is concerned, though there are other desirable characteristics too. He also likes businesses with low amounts of debt, the capacity for dividend growth and high levels of insider ownership. Once he has bought into a company he likes to hold it for the long term.

3 Year Performance
Fund Performance83.9%
Average of Rated Funds Group50.9%
Sector Performance52.6%
Fund information
Fund name
VT De Lisle America B GBP
Fund manager company
Valu-Trac Investment Managemen
Fund type
OEIC
Fund manager
  • Richard De Lislesince 26/07/2010
Accolades
Winner - Small Fund - North America
Fund objective
To provide an attractive long-term return by investing primarily in equities in North America.
Benchmark
  • S&P 500
Investment style
None
Investment method
Shares
Quick stats
1 Year return
27.7%
1 Year rank in sector
1/85
Sector
UT North America
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.21%
Fund size
£30m
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
126
Mid price
357.8733
Top in this sector
Fund name1 Year
VT De Lisle America27.7%
Baillie Gifford American22.8%
Investec American21.8%
BlackRock US Dynamic21.1%
M&G Nth Am Div20.3%
...more in UT North America

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.9%-1.5%0.7%27.7%83.9%155.7%
Sector-0.9%-2.9%-1.5%14.5%52.6%112.2%
Rank within sector6 / 8912 / 8914 / 871 / 852 / 772 / 64
Quartile1st1st1st1st1st1st
Calendar performance
 YTD - 20172016201520142013
Fund-1.1%57.5%3.7%10.3%42.1%
Sector2.8%31.2%4.9%17.8%30.5%
Rank within sector75 / 861 / 8152 / 7970 / 721 / 65
Quartile4th1st3rd4th1st
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
9.01
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.87
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
1.41
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
14.19
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
10.22
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.63
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.48
Price movement
52 week high370.46
52 week low280.16
Current bid price-
Current offer price-
Current mid price357.87
Region
1USA98.87%
2Canada1.08%
3Money Market0.05%
Industry sector
No data available.
Asset type
No data available.
Individual holdings
1PARAGON COMMERCIAL CORP9.11%
2FS BANCORP INC7.91%
3WESTWOOD HOLDINGS GROUP INC5.51%
4HANDY & HARMAN LTD4.06%
5JOHNSON OUTDOORS INC3.39%
6WEST MARINE INC2.58%
7MARINE PRODUCTS CORP2.38%
8CARRIAGE SERVICES INC2.26%
9SOUTHERN NATIONAL BANCORP OF VA INC2.2%
Management
Fund manager group
Valu-Trac Invest Mgmt
Fund manager company
Valu-Trac Investment Managemen
Fund type
OEIC
Fund objective
To provide an attractive long-term return by investing primarily in equities in North America.
Benchmark
  • S&P 500
Investment style
None
Investment method
Shares
Fund manager
NameSinceBiography
Richard De Lisle26/07/2010Richard de Lisle, who has a long-term track record of successfully investing in North America, consistently generating returns in excess of the S&P 500 index. Richard has been investing since 1972 and has experience including Merrill Lynch and Dean Witter. Most recently, he has run a long-only dollar-based scholarship fund for Cambridge University.
Compliance
IA Recognised, UCITS IV Compliant, UCITS V Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
VT De Lisle America A GBP
Initial charge5%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)2.36%
Total expense ratio (TER)1.65%
Bid price-
Offer price-
Mid price100
CurrencyGBX
Price updated18/12/2012
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeKUD1
VT De Lisle America B GBP
Initial charge2%
Annual charge1%
Min single investment£1,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)1.21%
Total expense ratio (TER)1.21%
Bid price-
Offer price-
Mid price357.8733
CurrencyGBX
Price updated21/09/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeKUD2
VT De Lisle America B USD
Initial charge2%
Annual charge1%
Min single investment£1,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)1.21%
Total expense ratio (TER)1.21%
Bid price-
Offer price-
Mid price312.8861
CurrencyUSX
Price updated21/09/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeKUD3
Data provided by

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