Sun Portfolio Fund Climate Assets B GBP Accumulation

Specialist

New for 2020. Invests in five themes related to climate change  

This fund is a worthy addition to our Rated Funds for 2020 on account of its stellar performance record and exposure to sustainable investment themes. It was a constituent of interactive investor’s inaugural ACE 30 line-up of rated ethical funds in 2019, as a choice for adventurous investors.

Claudia Quiroz, at Quilter Cheviot, developed the sustainable investment strategy and has run it since launch in 2010. Also named on the fund is Caroline Langley. The managers invest around the world with a focus on investment opportunities arising from the convergence of climate change, resource scarcity and population shifts.

This is a mixed-asset portfolio that invests in equities, bonds and alternative investments, but the thematic and specialist nature of the fund makes it better suited to this asset group. The fund’s five investment themes are resources, energy, health, water and food.

The managers’ approach involves top-down and bottom-up analysis, which they undertake using a mix of quantitative analysis, in-house fundamental research, brokers’ research notes and management meetings. Portfolio positioning has been heavily biased towards shares for a decade, as companies have made the most of globalisation opportunities supported by an extremely favourable monetary background.

While they still favour stocks over bonds, they are cautious on the sustainability of the market rally and have been reducing equity exposure towards a more neutral position. The fund’s allocation to cash, at 4%, is higher than average, while it also has 13% in alternatives, such as gold and renewables infrastructure.

Narrative and ratings content all as of January 2020.

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Name
Sun Portfolio Fund Climate Assets B GBP Accumulation
Manager
Thesis Unit Trust Management Limited
Type
Open Ended Investment Company
ISIN
GB00B3K3HX15
Sector
Mixed Investment 40-85% Shares
Launched
25/06/2012
OCF
1.2 %
Risk Rating
2
3 Year Sharpe
0.64
3 Year Alpha
2.03
Yield
2 %
Benchmark
FTSE World TR GBP
The investment objective of the Fund is to provide a mixture of long term capital growth and income. The Fund will aim to achieve its investment objective by utilising multi-asset allocation and multi-thematic investment on a global basis through a portfolio of transferable securities (including investment trusts), collective investment schemes, deposits, money market instruments and derivatives. The Fund will invest mainly in companies which will benefit from climate change, resource scarcity and population growth, and will therefore follow the theme of sustainability. The portfolio will be actively managed and normally remain fully invested save for such operational liquidity as may be required from time to time.
Holding %
Waste Management Inc 3.04 %
Union Pacific Corp 2.96 %
Thermo Fisher Scientific Inc 2.92 %
Xylem Inc 2.69 %
United Kingdom of Great Britain and Northern Ireland 1.5% 2.60 %
American Water Works Co Inc 2.45 %
Royal Philips NV 2.35 %
Schneider Electric SE 2.27 %
Kingspan Group PLC 2.23 %
Ferguson PLC 2.22 %
Region %
United States 36.79 %
Eurozone 26.49 %
United Kingdom 16.52 %
Japan 9.11 %
Europe - ex Euro 7.72 %
Sector %
Industrials 47.04 %
Healthcare 20.26 %
Basic materials 10.25 %
Utilities 9.32 %
Consumer Cyclical 8.79 %
Name
Thesis Unit Trust Management Limited
Address
Chichester, United Kingdom
UCITS
Yes
Legal Structure
Open Ended Investment Company

Managers

William Buckhurst
Joined 03/01/2010

William began his career in 2002 at Laing & Cruickshank Investment Management, which was acquired by UBS Wealth Management in 2004. He joined Cheviot Asset Management in 2006 where, in addition to managing private client, pension and charity portfolios, he is the co-manager of the CF Cheviot Balanced Fund and the Climate Assets Fund and sits on Cheviot’s external fund selection committee.

Claudia Quiroz
Joined 03/01/2010

Quiroz joined Henderson in 2002 and previously was the team leader for the Pharmaceutical & Household and Personal Care sectors at a leading SRI research house. She also worked for Praxair and Bestfood in Argentina, where she implemented quality and environmental management systems and also worked in business and client development. She has 8 years of industry experience.

Data provided by Morningstar.

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