Worst performing funds of Q1
By Sonia Rach, 4 Apr 18
Markets stumbled in 1Q18 after a positive run in 2017. While economic data was largely positive, Italy delivered an inconclusive election result, a new US Fed chair was appointed, and Donald Trump took the first steps towards a trade war.
The VT Cape Wrath fund, which invests largely in mid cap (54%), followed by cash, equities and bonds (23%) and small cap (19%), was the third worst performer for the quarter.
The fund’s top 10 equity holdings consist of well-known household names including Flybe Group (9.1%), Premier Foods (8.8%), Premier Oil (8.3%), AA (5%) and Capita (4.2%).
Against the IA UK All Companies sector, this fund produced returns of -14.4% compared to -6.1% over a three-month period.
Since inception, in 2016, the fund has underperformed its benchmark over a one-year period with returns of -15.6%, against 2.6%.
VT Cape Wrath is managed by Adam Rackley.
Tags: Blackrock | Investment Strategy | Jupiter | Smith & Williamson
