Mid Wynd International Investment Trust PLC Fund O Inc
Rated Fund 2017-20. Looks for global trends to generate superior returns
Named after a small street in Dundee, Mid Wynd became a global investment trust in 1988. However, its history since 2014 is of most interest because that is when its current investment team – Simon Edelsten, Alex Illingworth and Rosanna Burcheri at Artemis – took over. Since then its performance has improved significantly and its shares have tended to trade at a small premium to net asset value. The trio of managers, who also run the Artemis Global Select fund, chooses stocks by first identifying reliable commercial trends around the world and then finding the right companies at the right prices to exploit these trends.
Current trends include rising consumer spending in emerging markets, the growth in demand for healthcare in developed markets and technological change for the internet and energy industries. Within each investment theme’s universe of companies, the managers select high-quality companies with proven records of profitability, high cash generation, strong balance sheets and established barriers to entry protecting their industries. Such companies sometimes lag the market when share prices are rising strongly but tend to protect capital when economic conditions become more testing.
Once the managers have identified an investment opportunity, they will only buy when the company’s shares are on a reasonable valuation. They aim to run a diversified portfolio with 55 to 70 holdings spread across eight to 10 different themes.
Morningstar said in 2019 that its experienced management team, competitive fees and a differentiated and disciplined investment approach continue to support a silver rating.
Narrative and ratings content all as of 01 January 2020.See all Money Observer rated funds
|Louis Vuitton S A||2.64 %|
|Microsoft Corp||2.30 %|
|Novartis AG||2.26 %|
|Bank Loan||2.23 %|
|Daifuku Co Ltd||2.20 %|
|Comcast Corp Class A||2.18 %|
|Thermo Fisher Scientific Inc||2.11 %|
|Boston Scientific Corp||2.08 %|
|Nippon Telegraph & Telephone Corp||2.08 %|
|United States||46.51 %|
|Europe - ex Euro||10.47 %|
|Asia - Emerging||5.37 %|
|Real Estate||13.02 %|
|Financial Services||8.19 %|
|Consumer Cyclical||7.97 %|
|Communication Services||7.61 %|
Simon manages the Artemis Global Select Fund and Mid Wynd International Investment Trust with Alex Illingworth and Rosanna Burcheri. After graduating from Trinity College, Oxford, he joined Phillips & Drew in 1985 and moved to Dresdner Kleinwort Benson in 1997 as head of European equity sales. From there he went to Taube Hodson Stonex (THS) in 2001: in a five-man team, Simon had joint responsibility for global equities. He joined Artemis in 2011.
Rosanna manages the Artemis Global Select Fund and Mid Wynd International Investment Trust with Simon Edelsten and Alex Illingworth. After graduating in economics from Bocconi University in 1996, she joined Paribas Asset Management as a junior fund manager. In 2000, she moved to M&G as a fund manager and director responsible for pan-European equity portfolios. As a senior European portfolio manager at Shell Pension Management Service from 2004, she controlled 710m of assets. Then, in 2006, Rosanna became a partner and pan-European fund manager for FrontPoint Management (UK). She came to Artemis in 2011.
Alex manages the Artemis Global Select Fund and Mid Wynd International Investment Trust with Simon Edelsten and Rosanna Burcheri. After graduating from Durham, Alex began his career running global funds at Rothschild Asset Management. In 2003 he was appointed a director of global equity at Insight Investment, responsible for long-only, ethical and absolute return funds. He joined Artemis in 2011.
Data provided by Morningstar.
The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Money Observer and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.
This information is sourced from our partner Morningstar. We believe the data to be correct however you should take care in using any information.
You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.