Factsheet: Mid Wynd International Inv Tr PLC O Inc

Global Growth

Rated Fund 2017-2018. 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 team � Simon Edelsten, Alex Illingworth and Rosanna Burcheri at Artemis � took over.

Since then its performance has improved significantly. The trio of managers, who also run the Artemis Global Select fund, choose stocks by first identifying reliable commercial trends around the world and then finding the right companies at the right prices to exploit these trends.

The type of trends the managers are currently looking at 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. The managers believe that by focusing on companies that benefit from these themes they can deliver superior returns over time.

Within each investment theme's universe of companies, they select high-quality companies with proven records of profitability, high cash generation, strong balance sheets and established barriers to entry to 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.

Over the past three years, the trust's shares have traded in a range of a 6 per cent premium to net asset value to a 5 per cent discount.

Narrative and ratings content all as of 01 January 2018.

See all Money Observer rated funds
Name
Mid Wynd International Inv Tr PLC O Inc
Manager
Artemis Fund Managers Limited
Type
Closed Ended Investment Company
ISIN
GB00B6VTTK07
Sector
Global
Launched
21/10/1981
OCF
0.67 %
Risk Rating
2
3 Year Sharpe
1.24
3 Year Alpha
3.30
Yield
1.1 %
Benchmark
MSCI ACWI NR GBP
Fund Size
£ 184.27 million
NAV
501
Gearing
97
Discount Premium
3
Mid Wynd aims to achieve both capital and income growth by investing on a worldwide basis.
Holding %
Loan 3.29 %
Avery Dennison Corp 2.54 %
LVMH Moet Hennessy Louis Vuitton SE 2.54 %
UnitedHealth Group Inc 2.51 %
Alphabet Inc A 2.45 %
Thermo Fisher Scientific Inc 2.14 %
Boston Scientific Corp 2.14 %
Mitsubishi UFJ Financial Group Inc 2.11 %
Oracle Corp 2.10 %
Mastercard Inc A 2.09 %
Region %
United States 41.96 %
Japan 17.89 %
Eurozone 15.05 %
Asia - Emerging 10.77 %
Asia - Developed 5.10 %
Sector %
Technology 20.55 %
Financial Services 19.02 %
Healthcare 17.59 %
Industrials 15.51 %
Consumer Cyclical 11.11 %
Communication Services 9.15 %
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.

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.

Data provided by Morningstar.

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