Slater Growth Fund Class P Acc

UK Smaller Companies

Rated Fund 2016-20. Runs concentrated portfolio of high-conviction stocks        

Slater Growth, winner of Money Observer's Best Larger UK Growth Fund award in 2016 and a Rated Fund for five years, is an attractive option for equity investors looking for a high-conviction portfolio of UK companies. It is a punchy proposition with a concentrated portfolio that looks significantly different from many funds in the UK all companies sector, which often favour the largest constituents of the stockmarket.

Manager Mark Slater favours firms growing earnings at an above-average rate that can be bought cheaply. This leads him to undervalued parts of the market he believes have significant re-rating potential. Most of his top 10 holdings are small and medium-sized firms, so we have moved the fund from our UK Growth to UK Smaller Companies asset group for 2020.

The fund has 50 holdings, but its largest, FTSE 250 media company Future, accounted for around 8% of the fund at the end of 2019, and the top 10 for 42%. Future publishes consumer websites and magazine for free-spending male hobbyists, and has shot the lights out for Slater, having risen threefold in value in 2019 and 100-fold since 2017.

Slater sees more mileage as Future expands in the US. Such a large holding carries risk, but Slater has been taking profits, which has brought the position down from 10%. We applaud his discipline and willingness to run his winners.

Narrative and ratings content all as of January 2020. 

See all Money Observer rated funds
Name
Slater Growth Fund Class P Acc
Manager
Slater Investments Limited
Type
Unit Trust
ISIN
GB00B7T0G907
Sector
UK All Companies
Launched
31/12/2012
OCF
0.77 %
Risk Rating
3
3 Year Sharpe
0.75
3 Year Alpha
8.41
Yield
0.7 %
Benchmark
IA UK All Companies Sector
The investment objective of the Scheme is to achieve capital growth. The Scheme will invest in companies both in the UK and overseas but concentrating mainly on UK shares. The Scheme will focus in particular on shares which the Manager believes are currently under-valued and that have the potential of a significant re rating. Other investments including bonds, warrants, deposits and collective investment Schemes may be used where it is considered that they meet the investment objective. It is also intended where appropriate to take advantage of underwritings and placings. At times it may be appropriate for the Scheme not to be fully invested but to hold cash and near cash. The Scheme may invest in derivatives and forward transactions but only for hedging purposes.
Holding %
Future PLC 10.39 %
Entertainment One Ltd 6.80 %
IWG PLC 4.79 %
Alliance Pharma PLC 4.33 %
The Walt Disney Co 3.85 %
CVS Group PLC 3.73 %
Prudential PLC 3.62 %
Next Fifteen Communications Group PLC 3.39 %
Restore PLC 3.20 %
Liontrust Asset Management PLC 2.99 %
Region %
United Kingdom 76.38 %
United States 10.65 %
Asia - Developed 7.24 %
Sector %
Consumer Cyclical 42.63 %
Industrials 16.27 %
Healthcare 13.29 %
Financial Services 13.24 %
Technology 11.73 %
Name
Slater Investments Limited
Address
EC3M 1BD, London, United Kingdom
UCITS
Yes
Legal Structure
Unit Trust

Managers

Mark Slater
Joined 03/30/2005

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.

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.