IN THIS ISSUE
EDITOR’S LETTER
magazine
Issue 14/ January 2016
2
How to update your portfolio
Admit defeat
Mixing it up
The test of time
Should you buy a
multi-manager fund?
Flexible Investment
in focus
Why trusts suit long
term investing
ISSUE 14
CREDITS
TRUSTNET MAGAZINE (FORMERLY
INVESTAZINE) IS PUBLISHED BY
THE TEAM BEHIND FE TRUSTNET IN
SOHO, LONDON.
WEBSITE: WWW.TRUSTNETDIRECT.COM
EMAIL: [email protected]
CONTACTS:
Anthony Luzio
Editor
T: 0207 534 7652
Art direction & design
Javier Otero
W: www.feedingcrows.co.uk
Editorial
Gary Jackson
Editor (FE Trustnet)
T: 0207 534 7680
Alex Paget
News editor
T: 0207 534 7697
Daniel Lanyon
Senior reporter
T: 0207 534 7640
Lauren Mason
Reporter
T: 0207 534 7625
Sales
Richard Fletcher
Head of publishing sales
T: 0207 534 7662
Richard Casemore
Account manager
T: 0207 534 7669
Jack Elia
Account manager
T: 0207 534 7698
Photos supplied by Thinkstock and
Photoshot
Cover illustration: Javier Otero
TIME TO
ADMIT DEFEAT?
Enjoy reading,
The Asian Total Return trust is one option for investors
who want exposure to Asia’s structural growth story,
but are worried about volatility
P. 22-23
A GAME OF THREE HALVES
Trustnet Direct’s John Blowers walks through the key
stages of pension planning in the post-annuity world
P. 25-26
DIVIDE AND RULE
Mark Martin reveals a stock he is backing in each of
the three silos his Neptune UK Mid Cap fund is split
into
P. 28
MONTANARO EQUITY INCOME
TIME TO ADMIT DEFEAT?
Anthony Luzio discovers why experienced investors
shouldn’t turn their noses up at multi-manager funds
P. 2-3
THE TEST OF TIME
Sam Shaw finds out why investment trusts are ideally
suited to anyone investing for the very long term
P. 4-5
BALANCING ACT
Anthony Luzio
Editor
Trustnet Magazine
Your portfolio can quickly become lopsided if you don’t
review it on an annual basis, writes Phil Scott
P. 6-8
IN FOCUS
In association with:
Adam Lewis takes a look at the AIC’s new Flexible
Investment sector
P. 16-20
ABSOLUTE RETURNS
FROM ASIAN EQUITIES:
A DISTINCTIVE APPROACH
B
y the time this issue of Trustnet Magazine
hits your computer, many of the promises
about self-improvement that you made to
yourself at the start of the year are likely to be
as long-forgotten as the excesses that prompted
you to make them in the first place. However,
the experts say that one yearly target you ought
to keep is to carry out an annual review and rebalancing of your
portfolio. In this month’s cover story, Phil Scott finds out how you
should go about this.
If you read this article, learn a few lessons and promise you
won’t forget to put them into practice, before doing exactly
that, you are not alone: close to one-quarter of respondents to a
recent FE Trustnet poll said they get around to rebalancing their
portfolio less than once every two years. In my article on page
2, a selection of industry experts tell me that if you find yourself
in this group, you should probably bite the bullet and consider
paying the extra level of charges for a multi-manager fund. I
thought that would get your attention…
Still on the theme of portfolio rebalancing, Sam Shaw explains
why you should think about adding an investment trust to the
mix if you are putting money away for the long term, while
Adam Lewis looks at the AIC’s new Flexible Investment sector.
In our regular fund manager columns, Mark Martin reveals a
stock he is backing in each of the three silos in his Neptune UK
Mid Cap fund, while Apollo’s Ryan Hughes explains why he is
using the Montanaro Equity Income fund to reflect his growing
optimism on the UK economy.
Finally, John Blowers runs the rule over how Trustnet Direct’s
new retirement centre can help you to plan each of the three
main stages of saving for your pension.
MIXING IT UP
Unicorn Mastertrust, CC Japan Income & Growth and
Fidelity China Special Situations find themselves under
the spotlight this month
P. 10-13
LIGHT ASSETS
Baillie Gifford’s James Anderson explains why a
company’s assets don’t necessarily provide a realistic
indication of its value
P. 14-15
Apollo’s Ryan Hughes is using this small cap fund to
reflect his growing optimism on the UK economy
P. 29
4
THE TEST
OF TIME