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Trojan

Ranked 33 out of 39 in - Absolute Return over 36 months
All calculations are in GBP

Managed by

Sebastian Lyon

Born in London and educated at Charterhouse, Sebastian Lyon graduated from the University of Southampton in 1989 gaining an honours degree in Politics and International Relations. Sebastian started out in fund management in the same year, taking up a graduate trainee role at Singer & Friedlander, before promotion to the post of assistant pension fund manager during his three year spell with the company. During this period, Sebastian continued his studies picking up both a City Financial Diploma and becoming a TSA Registered Rep. The remainder of the 1990s saw Sebastian holding posts with MGAM & Stanhope Investment Management during which time he also became an Associate of the IIMR. Sebastian left Stanhope in 2000 to set up Troy Asset Management where he is currently CEO and Investment Director as well as being lead manager for the Trojan fund. He describes the investment approach for this fund as cautious, targeting absolute returns with a bias towards value investments. Sebastian’s recreational activities centre on outdoor sport with golf and tennis featuring in his interests outside of work.

Objective

The investment objective of the Trojan Fund is to achieve growth in capital and income in real terms over the longer term. The policy is to invest substantially in UK and overseas equities and fixed interest securities but may also invest in collective investment schemes and money market instruments.

Performance

Absolute Return over : 31/07/2011 - 31/07/2014

Total Return

Quarterly Performance

to 31/07/2014 Annual Q1 Q2 Q3 Q4
2014 4.4% 2.5% 2.3% -0.4%
2013 -3.1% 5.9% -6.7% -0.6% -1.3%
2012 2.2% 0.9% 0.8% 3.4% -2.8%
2011 8.7% -0.2% 3.5% 2.1% 3.0%
2010 14.6% 4.8% -0.5% 5.6% 4.0%
2009 11.9% -6.7% 0.4% 14.1% 4.7%
2008 1.4% -6.5% -0.8% -0.7% 10.0%
2007 6.4% 2.1% 1.8% 0.0% 2.4%
2006 12.3% 2.5% -0.6% 4.9% 5.1%
2005 16.3% 2.5% 4.1% 4.9% 3.9%
2004 10.8% 0.8% 0.0% 2.6% 7.1%
2003 15.8% -1.7% 10.9% 1.0% 5.1%
2002 4.3% 3.2% -1.6% 0.3% 2.4%
2001 0.6% 0.2% -0.3% 0.7%

Month by Month Performance

Returns Vs Risk

Asset Allocation

Breakdown

30/06/2014

Top 10 Holdings

Stock Size
GOLD BULLION SECURITIES ETC 8.75
US Treasury 0.125% 15-Jan-2022 6.19
United Kingdom 1.875% 22-Nov-2022 5.78
United Kingdom 2.500% 16-Apr-2020 5.28
United Kingdom 0.125% 22-Mar-2024 4.98
United Kingdom 0.000% 27-May-2014 4.47
United Kingdom 0.000% 22-Apr-2014 4.41
British American Tobacco PLC ORD 4.34
Becton Dickinson and Co ORD 3.82
Microsoft Corp ORD 3.65
31/03/2014

Registered For Sale In

  1. United Kingdom

Fund Info

  • Launch date30/05/2001
  • Share Class size2,339Mn
  • Base currencyGBP
  • ISIN GB0034243732

Purchase Info

  • Min. initial investment100,000
  • Min. additional investment10,000

Charges

  • Annual management1.0%
  • Initial investment0

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The Trojan manager has poured cold water on any meaningful economic recovery taking place and is sticking to inflation-linked bonds and gold as key plays.

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Troy Asset Management’s Sebastian Lyon has warned the foundations supporting the equity bull-run have disappeared and there is ‘a whiff of panic’ to invest cash at any price.

Lyon: a 'little Ice Age' could be on its way

While Trojan and Personal Assets star Sebastian Lyon is convinced the developed world is headed for inflation, a mini 'ice age' of deflation could come first.

Lyon: potential China capital reserve collapse a game changer

The Tiger's capital account reserves once expanded at a rate of up to 50% a year, but AAA-rated Trojan star Sebastian Lyon is keeping a close eye on its recent contraction.

Fund of the Week: Trojan

Positive returns year in year out have led to many admirers, but with markets testing new highs, Sebastian Lyon is treading carefully.

Sebastian Lyon: the heads I win, tails you lose game

Trojan's Sebastian Lyon asks why bond and equity markets are moving in the same direction and says the conundrum will continue so long as central bankers reach for the water pistol over the bazooka.

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With the investment landscape looking increasingly 'complicated' the investment team on the Ruffer Investment Company admit it is not entirely comfortable with the fund's positioning.

...more...

Performance is for the period shown (month end to month end, bid/bid, gross income reinvested, calculated in GBP).