Strategy

Kepler Trust Intelligence | Investment trust research

Kepler Trust Intelligence is a digital publication for discretionary fund managers and private investors published by the investment companies team at Kepler Partners.

What we do

We offer investors a library of high quality, up-to-date investment strategy articles and fund analysis all written in-house by experienced analysts.

Our content falls into three categories:

  • Investment strategy articles assess opportunities and developments which could impact or should be considered by investment trust investors, positive or negative
  • Fund analysis focuses on individual trusts, examining them in detail to create a snapshot picture that investors can use to aid their investment decisions
  • Sponsored content appears where an asset management group or investment trust has paid to place a piece of content into the site. This will be clearly marked with the sponsor's logo and a byline attributing the content to the sponsor.

Our focus is on quality, not quantity, so we tend to publish around four or five articles in a given week. For this reason we recommend that you join our mailing list, and we'll send you an email once a month alerting you to what’s new on the site. We won’t sell your details, and we won’t spam you with useless updates.

How we are funded, and how that relates to MIFID II

Kepler Trust Intelligence provides non-substantive material and analysis. Under MiFID II these constitute a minor non-monetary benefit and are provided free of charge.

Kepler Trust Intelligence is freely to any person (professional or private individual) who wants to access it. We clearly disclose all of our relationships, but our research is either paid for directly by specific trusts and their boards, or more generally by the larger asset management groups who pay to have adverts and advertorial. As a result, all of our research should be considered “non-independent” and readers should consider it as marketing.

All of our clients are keen to keep their trusts “on radar” with wealth managers. There is generally less “centralised” coverage of investment trusts as wealth managers get bigger and bigger, and at the same time there is an increasing burden on wealth managers to prove they are keeping “on top” of trusts they hold. We believe our website and research serves as a useful purpose in this regard.

As we mention above, all of this content is freely available to anyone. We run two versions of the site – one for discretionary fund managers one for other types of investor. The professional site requires readers to volunteer the name of the company they work for – so that from a compliance perspective we can be satisfied that all readers really are a professional.

Our team

William Heathcoat Amory

William Heathcoat Amory is a co-founding partner of Kepler Partners LLP and leads the Kepler investment trust research team. William has 18 years of experience as an investment company analyst. Prior to co-founding Kepler Partners in 2008, he was part of the Extel number 1 rated research team at JPMorgan Cazenove.

Sectors covered:

  • Private equity
  • Commodities
  • Renewables
  • Technology
  • Hedge funds

Pascal Dowling

Pascal is marketing and communications director at Kepler Partners LLP. He runs Kepler Trust Intelligence as a product, having joined Kepler to launch it in 2015. Prior to joining the Kepler team, Pascal managed FE Trustnet, one of the UK's largest investment research websites, for ten years. Pascal started his career sixteen years ago as a financial journalist, and has written extensively about investment trusts and other investments for the trade and national press.

Sectors covered:

  • Multi-asset
  • Funds of investment trusts

William Sobczak

William joined Kepler Partners in February 2018 as an investment trust analyst. Prior to joining, William graduated from the University of Western Australia, with a BSc in Psychology. He has also spent time at Standard Life Aberdeen, Schroders and Winterflood Securities.

Sectors covered:

  • European equities
  • North American equities
  • Global equities

Thomas McMahon, CFA

Thomas is an investment trust analyst and joined Kepler in April 2018. Previously he was senior analyst at FE Invest, where he was responsible for fund selection for a range of model portfolios. He covered all asset classes over time, but has particular experience with emerging markets and fixed income as well as UK smaller companies funds. He has a degree in Philosophy from Warwick University and is a CFA charterholder.

Sectors covered:

  • Asia
  • Emerging markets
  • Debt
  • Biotech
  • UK Smaller companies
  • Property
  • UK equities

Our aim

At Kepler Partners we are focused on the needs of the private client fund management community, and we understand that investment trusts are only one of the options available to readers of our research. For this reason, wherever possible we seek to show investment trusts on a level playing field with unit trusts and OEICs, especially in performance terms.

We believe investment trusts, as more and more of them move to capitalise on their structural advantages - gearing, the ability to smooth dividends, and the ability to manage their own liquidity, among them - are on the front foot, and we hope that you find our research as interesting and exciting to read as we have found it to write.

Welcome to Kepler Trust Intelligence.

Pascal Dowling

Kepler Partners

Important Information

This website is aimed only at providing information to professional investors. Kepler Partners LLP is not permitted to conduct investment business in the United Kingdom with retail clients and accordingly such persons should not access this website.

No information or opinions contained in this site constitute a solicitation or inducement by Kepler Partners LLP to buy, sell or subscribe for any securities mentioned herein or to provide any investment advice or service. Information on this Website may or may not have been prepared by Kepler Partners LLP, but is made available without responsibility on the part of Kepler Partners LLP, who neither assumes nor accepts any responsibility or liability (including for negligence) in relation thereto. No action should be taken or omitted to be taken in reliance upon information on this website.

Opinions expressed are subject to change at any time. The material is based upon information which is considered reliable, but no representation is made as to accuracy, completeness or timeliness, and should not be relied upon. Past performance is not an indication of future performance. This document is a marketing communication under FCA rules and has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Kepler Partners LLP reserves the right to change the information available on this Website without notice and expressly disclaim any obligation to keep the information on this Website up-to-date, free of errors or viruses or to maintain uninterrupted access. Kepler Partners LLP may stop producing or updating any part of this Website without notice.

United States persons (as defined in “Regulation S” of the US Securities Act of 1933) and persons who are residents of the United States of America may not use this website. Information on this website may not be forwarded to any entity in the United States of America. Furthermore, the contents of this site are not intended for distribution to, or use by, any individual or entity in any jurisdiction where their distribution or use would be contrary to local law or regulation or which would subject Kepler Partners LLP to registration with the jurisdiction.

You should be aware that any rules and/or regulations applicable to providing financial services (and the resultant investor protections that may be available), may not apply to persons who obtain information from the internet and its various applications, of which this material forms part.

Welcome to Kepler Trust Intelligence

Kepler Trust Intelligence is authorised in the UK by the Financial Conduct Authority.
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A free Kepler Trust Intelligence account allows you to access premium content including the ‘Kepler View’ – our verdict on the trusts we cover – and historical research so you can see how our view has changed over time. An account also unlocks useful facilities like the ‘follow’ button which lets you keep track of the trusts you’re interested in and as a logged in user you can also download PDFs of our research, and choose the layout of the page you’re reading to suit your preference. We will not share your details unless you give us permission to do so, and we won’t bombard you with emails – we only send one a week.
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One more thing...

Did you know, you can 'follow' individual trusts on Kepler Trust Intelligence? Use the functions below to set up alerts and we'll send you research and updates on your chosen trusts.

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Current Site Kepler Trust Intelligence is produced by the investment companies team at Kepler Partners and is the UK’s premier source of detailed qualitative research on investment trusts. Absolute Hedge is a market leading UCITS research database providing proprietary research on funds, themes and strategies in the UCITS space. Kepler Liquid Strategies is a Dublin domiciled UCITS fund platform featuring a number of best-of-breed fund managers. Kepler Partners is a corporate advisory and asset raising boutique specialising in the regulated funds market in Europe and investment trusts in the UK.