Castlefield CFP SDL UK Buffettology Fund Institutional Income Shares

UK Growth

Rated Fund 2016-19. Replicates Warren Buffett’s methodology

A core choice for 2018, CFP SDL UK Buffettology has moved into our adventurous selection on the grounds that it has relatively high ongoing charges and a concentrated portfolio. We regard the continued outperformance of the fund as justification for the extra fees, which should reduce as the fund grows.

It has seen its assets more than double in the past year to £465 million. It had just £42 million under management in mid-2016.

The fund aims to replicate the investment style of legendary value investor Warren Buffett. Last year it clinched a Money Observer award for a fourth consecutive year when it was named Best Larger UK Growth Fund for 2018.

Keith Ashworth-Lord, who has run the fund since its inception in 2011, aims to invest in companies with strong balance sheets and the ability to grow over the long term. His style is known as ‘business perspective investing’, which follows the Buffett principle of buying shares in good businesses for less than the business is intrinsically worth and ideally holding the shares indefinitely. While that might not always be the case with Ashworth-Lord, he is investing for at least five years.

He says the fund’s success is down to getting investments right after extensive research. When he finds an attractive investment, he invests a meaningful amount in it. He concentrates the fund in relatively few companies – currently just 30 holdings – which he feels he knows a lot about.

Ashworth-Lord firmly believes investment is a business venture, not a gamble, and that it is the companies owned that make money for an investor, rather than the stockmarket.

Narrative and ratings content all as of 01 January 2019.

See all Money Observer rated funds
Name
Castlefield CFP SDL UK Buffettology Fund Institutional Income Shares
Manager
Castlefield Fund Partners Limited
Type
Open Ended Investment Company
ISIN
GB00BKJ9C676
Sector
UK All Companies
Launched
18/03/2014
OCF
1.19 %
Risk Rating
2
3 Year Sharpe
1.45
3 Year Alpha
12.99
Yield
1 %
Benchmark
FTSE AllSh TR GBP
The investment objective of the Fund is to seek to achieve an annual compounding rate of return over the long term which is superior to the performance of the UK stock market. The Fund will invest principally in a portfolio of UK equities, and may also invest in other transferable securities, money market instruments, units and/or shares in other collective investment schemes, deposits, warrants, cash and near cash. The Investment Adviser will adopt a focused approach to investing in shares of those companies which it believes have strong operating franchises and experienced management teams and whose shares are undervalued and offer the potential for improved economic growth. The Fund may also invest in derivatives and forward transactions (for hedging purposes). The Fund may borrow and may enter into stocklending and underwriting transactions in accordance with COLL.
Holding %
AB Dynamics PLC 5.82 %
Games Workshop Group PLC 4.88 %
Bioventix PLC 3.39 %
Liontrust Asset Management PLC 3.32 %
RWS Holdings PLC 3.31 %
London Stock Exchange Group PLC 3.24 %
Dechra Pharmaceuticals PLC 3.19 %
Diageo PLC 3.05 %
Experian PLC 3.01 %
RELX PLC 2.83 %
Region %
United Kingdom 91.34 %
United States 8.66 %
Sector %
Industrials 22.31 %
Consumer Cyclical 21.17 %
Financial Services 15.24 %
Technology 14.03 %
Healthcare 10.77 %
Basic materials 10.67 %
Consumer Defensive 5.81 %
Name
Castlefield Fund Partners Limited
Address
NULL, Manchester, United Kingdom
UCITS
Yes
Legal Structure
Open Ended Investment Company

Managers

Keith Ashworth-Lord
Joined 03/28/2011

Keith is a graduate of the Natural Sciences with a Master's Degree in Management Studies from Imperial College, London. His career spans over thirty years in equity capital markets, working in company investment analysis, corporate finance and fund management. He is a Chartered Fellow of the Chartered Institute for Securities & Investment and he holds the Investment Management Certificate of the United Kingdom Society of Investment Professionals. In recent years, he had won four stock picking awards conferred by Thomson-Reuters StarMine.

Data provided by Morningstar.

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