Mid Wynd International Investment Trust PLC Fund O Inc

Global Growth

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
Name
Mid Wynd International Investment Trust PLC Fund O Inc
Manager
Artemis Fund Managers Limited
Type
Closed Ended Investment Company
ISIN
GB00B6VTTK07
Sector
Global
Launched
21/10/1981
OCF
0.51 %
Risk Rating
3
3 Year Sharpe
0.70
3 Year Alpha
2.15
Yield
1.3 %
Benchmark
MSCI ACWI NR GBP
Fund Size
£ 247.69 million
NAV
499
Gearing
100
Discount Premium
2
The objective of the Company is to achieve capital and income growth by investing on a worldwide basis. The Company is prepared to move freely between different markets, sectors, industries, market cap and asset classes as investment opportunities dictate.
Holding %
Louis Vuitton S A 2.64 %
Microsoft Corp 2.30 %
Novartis AG 2.26 %
Bank Loan 2.23 %
NESTLE 2.22 %
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 %
Region %
United States 46.51 %
Eurozone 12.81 %
Japan 11.82 %
Europe - ex Euro 10.47 %
Asia - Emerging 5.37 %
Sector %
Healthcare 20.22 %
Technology 19.64 %
Industrials 19.29 %
Real Estate 13.02 %
Financial Services 8.19 %
Consumer Cyclical 7.97 %
Communication Services 7.61 %
Name
Artemis Fund Managers Limited
Address
SW1A 1LD, London, United Kingdom
UCITS
No
Legal Structure
Closed Ended Investment Company

Managers

Simon Edelsten
Joined 05/01/2014

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 Burcheri
Joined 05/01/2014

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 Illingworth
Joined 05/01/2014

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.

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