Fund Research

Mid Wynd International

Last update 08 August 2018

Mid Wynd International is a core global equity offering which aims to grow wealth steadily throughout the cycle, all the while avoiding the downside during tough times. Fund managers Simon Edelsten, Alex Illingworth and Rosanna Burcheri, apply a rigorous valuation-driven investment process which leads to a reasonably concentrated portfolio of global equities arranged around themes.

Secular growth areas account for a large proportion of the trust’s impetus, principally due to the bias towards technological and healthcare companies. They balance the associated risk of these sectors with some deep value opportunities - companies that would be impossible to recreate at the current valuation.

Managing the exposure to downside risk is an important feature for the trust. As such, themes, sectors, regions and individual stocks are all subject to exposure limits – and a correlation matrix is used to ensure that exposure to themes which are correlated with one another is properly managed too. Additionally, the “safety box” of deep value stocks is designed to hedge risks in the portfolio or wider markets.

The trust has delivered NAV total returns of 94.3% since the managers took over in May 2014, outperforming the MSCI AC World index, which has returned 75.5% over the same period, and the Morningstar Global sector (91.5%) by a small margin. The trust also compares well against the much larger IA Global peer group of open-ended funds.

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Fund History: Mid Wynd International

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