Factsheet: Temple Bar Ord
UK Equity Income
Rated Fund 2013-2015, 2018. Showing signs of a renaissance
Temple Bar's contrarian, value style could be coming back into fashion and it is Money Observer's 'conservative' UK equity investment trust tip for 2017/18. The portfolio is quite conservatively managed, but a poor recent run means it forms part of our 'adventurous' selection.The experienced Alastair Mundy of Investec Asset Management has been managing the trust since 2003. He is well-known for his contrarian investment style, influenced by profound scepticism about the global economic recovery that he believes has been artificially driven by quantitative easing.His value-oriented approach has been well and truly out of favour in recent years. 'Temple Bar, while an old favourite of ours, has been through a relatively rough patch over the past few years, but is showing signs of a renaissance,' says David Liddell, a director of IpsoFacto Investor.Two thirds of the portfolio is in blue-chip dividend payers and a further 16 per cent in cash and short-dated government bonds, giving Mundy ample room to take advantage of any market correction. Shares can be bought at a 5 per cent discount to net asset value. Three years ago they were trading at a near 2 per cent premium.
Narrative and ratings content all as of 01 January 2018.See all Money Observer rated funds
|United Kingdom of Great Britain and Northern Ireland 1.25% SNR PIDI BDS 22/||10.51 %|
|HSBC Holdings PLC||6.08 %|
|GlaxoSmithKline PLC||6.03 %|
|Royal Dutch Shell PLC B||5.91 %|
|BP PLC||4.97 %|
|Barclays PLC||4.89 %|
|Lloyds Banking Group PLC||4.77 %|
|Grafton Group PLC||4.21 %|
|SIG PLC||3.42 %|
|Royal Bank of Scotland Group (The) PLC||3.29 %|
|United Kingdom||94.46 %|
|Financial Services||24.81 %|
|Basic materials||13.95 %|
|Consumer Cyclical||9.86 %|
|Consumer Defensive||8.09 %|
Alastair is head of the Value team at Investec Asset Management having joined in 2000 from Morley Fund Management. Alastair manages a number of funds including the Investec Cautious Managed Fund and the Investec UK Special Situations Fund. He also manages the Temple Bar Investment Trust. Alastair graduated from City University with a Bachelor of Science degree in Actuarial Science in 1988.
Data provided by Morningstar.
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