Slater Growth Fund Class P Acc
Rated Fund 2016-19. Concentrated portfolio of high-conviction stocks
This fund won Money Observer’s Best Larger UK Growth Fund award in 2016 and has been a Rated Fund for four years. Slater Growth is an attractive option for equity investors looking for a high-conviction portfolio of UK companies.
The fund, launched in March 2005, has a concentrated portfolio of between 25 and 50 stocks. Fund manager Mark Slater – who is also chief investment officer at Slater Investments and co-founder of the company with Ralph Baber – describes his investment style as “focused, disciplined and based on common sense”.
In order to draw up a short list of suitable stocks, he first screens for companies that are growing their earnings at an above-average rate and can be bought relatively cheaply. This eliminates 95% of the stockmarket. He then focuses on the degree to which growth is likely to be delivered. He looks especially carefully for identifiable tailwinds that make growth more certain.
Slater does not favour any particular size of company. He explains that because value moves around, there are times when the fund has more exposure to large or small companies, but he says this is driven entirely by the opportunity set. However, position sizes in very small companies are limited to a maximum of 1% to ensure reasonable aggregate fund liquidity.
Slater believes a good growth business should perform well over the long term provided it has been bought at a reasonable price. However, he points out that other types of companies become flavour of the month for investors sometimes, so a growth approach may not always outperform, even though over time he believes the approach is extremely effective.
Narrative and ratings content all as of 01 January 2019.See all Money Observer rated funds
|Future PLC||10.02 %|
|Alliance Pharma PLC||5.02 %|
|Entertainment One Ltd||4.99 %|
|Prudential PLC||4.19 %|
|IWG PLC||3.84 %|
|The Walt Disney Co||3.58 %|
|Next Fifteen Communications Group PLC||3.22 %|
|dotDigital Group PLC||3.11 %|
|Hutchison China Meditech Ltd ADR||3.06 %|
|Hutchison China Meditech Ltd||2.99 %|
|United Kingdom||78.34 %|
|United States||8.57 %|
|Asia - Developed||8.31 %|
|Consumer Cyclical||38.05 %|
|Financial Services||14.29 %|
Mark Slater co-founded Slater Investments, the specialist UK equity fund manager, in 1994. The company manages a hedge fund, three unit trusts and portfolios for large pension schemes and high net worth individuals. Mark is Chairman and Chief Investment Officer. The company has achieved very strong investment performance since inception. Notably, Slater Investments managed a top performing fund in the mid to late 1990s and produced very resilient results during the 2000-2003 bear market. More recently, the company's MFM Slater Growth Fund has ranked as the best performing fund in its sector over three and five years. The Financial Times reported that Mark Slater is one of the ten most consistent fund managers with a long term track record in achieving outperformance. Prior to founding Slater Investments, Mark worked as a financial journalist with Analyst PLC and the Investor's Chronicle. Also, in 1992, he helped research and edit a best-selling investment book "The Zulu Principle" for his father, Jim Slater, which focuses on identifying small to medium-sized growth companies. During his career, Mark has served on the boards of four public companies in which he has been a substantial shareholder. Mark has an MA in History from Cambridge University.
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