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
Name
Temple Bar Ord
Manager
Investec Fund Managers Ltd
Type
Closed Ended Investment Company
ISIN
GB0008825324
Sector
UK Equity Income
Launched
30/12/1926
OCF
0.49 %
Risk Rating
2
3 Year Sharpe
0.59
3 Year Alpha
2.42
Yield
3.1 %
Benchmark
FTSE AllSh TR GBP
Fund Size
£ 890.75 million
NAV
1,420
Gearing
96
Discount Premium
-5
The Company's investment objective is to provide growth in income and capital to achieve a long-term total return greater than the benchmark FTSE All-Share Index, through investment primarily in UK securities. The Company invests in a broad spread of securities with typically the majority of the portfolio selected from the constituents of the FTSE 350 Index. The Company's level of its portfolio investments in listed international equities in developed economies equals to 20% of the portfolio. Besides, no more than 15% of its gross assets would be invest in other listed investment companies (including listed investment trusts).
Holding %
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 %
Region %
United Kingdom 94.46 %
Sector %
Financial Services 24.81 %
Industrials 14.07 %
Basic materials 13.95 %
Energy 12.89 %
Consumer Cyclical 9.86 %
Consumer Defensive 8.09 %
Healthcare 7.14 %
Name
Investec Fund Managers Ltd
Address
EC2V 5HA, London, United Kingdom
UCITS
No
Legal Structure
Closed Ended Investment Company

Managers

Alastair Mundy
Joined 06/01/2000

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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