Valu-Trac Investment Management Limited

Intrinsic Value: Single Discipline, Global Investment
 
 
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Services (VTAS)
 
 
 
 
     
 
   Moray Place Investment Company
   VT Cape Wrath Focus Fund
   VT Castlebay UK Equity Fund
   VT icf Absolute Return Portfolio
   VT De Lisle America Fund
   VT Dominium Holdings ICVC
   VT Garraway UK Equity Market Fund
   VT Halo Global Asian Consumer Fund
   VT Munro Smart-Beta UK Fund
   VT PEF Global Multi-Asset Fund
   VT Price Value Portfolio
   VT RM Alternative Income Fund
   VT SG UK Defined Return Assets Fund
   VT Sorbus Vector Fund 1
   VT Teviot UK Smaller Companies Fund
   VT Thistledown Income Fund
   VT Woodhill UK Equity Strategic Fund
   Valu-Trac Equity Income Fund A
 
   Protean Capital LLP
   -  VT Protean Capital Elder Fund
   -  VT Protean Capital PROCSI CoRE Fund
 
   VT AJ Bell Funds ICVC
   -  VT AJ Bell Passive Adventurous Fund
   -  VT AJ Bell Passive Balanced Fund
   -  VT AJ Bell Passive Cautious Fund
   -  VT AJ Bell Passive Moderately
Adventurous Fund
   -  VT AJ Bell Passive Moderately
Cautious Fund
   -  VT AJ Bell Passive Global Growth Fund
 
   VT Cantab Funds ICVC
   -  VT Cantab Moderate
   -  VT Cantab Balanced
 
   VT Chelsea Managed ICVC
   -  VT Chelsea Managed Monthly Income Fund
   -  VT Chelsea Managed Cautious Growth Fund
   -  VT Chelsea Managed Balanced Growth Fund
   -  VT Chelsea Managed Agressive
Growth Fund
 
   VT Esprit FS ICVC
   -  VT Esprit Careful Growth Fund
   -  VT Esprit Tactical Alpha Plus Fund
   -  VT Esprit Tactical Balanced Fund
   -  VT Esprit Tactical Growth Fund
   -  VT Esprit Tactical Income Fund
 
   VT Gravis Funds ICVC
   -  VT Gravis Clean Energy Income Fund
   -  VT Gravis UK Infrastructure Income Fund
 
   VT Greystone Funds
   -  VT Greystone Balanced Managed Fund
   -  VT Greystone Cautious Managed Fund
   -  VT Greystone Conservative Managed Fund
   -  VT Greystone Global Growth Fund
 
   VT Grosvenor Funds ICVC
   -  VT Grosvenor Cautious Fund
   -  VT Grosvenor Adventurous Fund
 
   VT iFunds OEIC
   -  VT iFunds Absolute Return Orange Fund
   -  VT iFunds Absolute Return Green Fund
   -  VT iFunds Absolute Return Indigo Fund
 
   VT Morningstar Informed Smartfund ICVC
   -  VT Morningstar Informed Smartfund
Balanced Strategy
   -  VT Morningstar Informed Smartfund
Cautious Strategy
   -  VT Morningstar Informed Smartfund
Growth Strategy
 
   VT Redlands Funds
   -  VT Redlands Fixed Income Portfolio
   -  VT Redlands Equity Portfolio
   -  VT Redlands Multi-Asset Portfolio
   -  VT Redlands Property Portfolio
 
   VT Reyker Funds ICVC
   -  VT Reyker Real Assets Fund
 
   VT Tatton Oak ICVC
   -  VT Tatton Oak Advanced Fund
   -  VT Tatton Oak Capital Growth Fund
   -  VT Tatton Oak Cautious Growth Fund
   -  VT Tatton Oak Distribution Fund
   -  VT Defensive Portfolio Overlay Fund
   -  VT Cautious Portfolio Overlay Fund
   -  VT Balanced Portfolio Overlay Fund
   -  VT Active Portfolio Overlay Fund
   -  VT Aggressive Portfolio Overlay Fund
   -  VT Tatton Blended Cautious Fund
   -  VT Tatton Blended Balanced Fund
   -  VT Tatton Blended Active Fund
 
   VT Tcam Investment Funds
   -  VT Tcam Absolute Return Portfolio
   -  VT Tcam Growth Portfolio
   -  VT Tcam Income Portfolio
   -  VT UK Strategic Value
   -  VT Japan Strategic Value
 
   VT Tyndall Funds ICVC
   -  VT Tyndall North American Fund
   -  VT Tyndall Real Income Fund
 
   VT Vanneck Funds
   -  VT Vanneck Defensive Fund
   -  VT Vanneck Equity Fund
 
 
     

 

Castlebay Investment Partners

VT Castlebay UK Equity Fund

The VT Castlebay UK Equity fund is an Open Ended Investment Company (OEIC).  The company invests, for the long term, in the equity of UK companies.  It can also invest a maximum of 20% in other assets such as cash, fixed interest securities or overseas equities.

Our Aim:

The managers, as fellow shareholders in the fund, seek to make a return in excess of inflation, delivering long term capital and income growth for shareholders.  We aim to achieve this by investing in:

Buy criteria

  • Companies with a valuation Margin of Safety, trading at a discount to their own history.
  • Companies with an operational Margin of Safety, whose business models create a Moat, protecting their operational returns from competitors.
  • Companies that generate strong cash flows - to pay us the investor whilst we wait.
  • Companies whose intrinsic value increases daily so that even if the market votes against them in the short term, they continue to grow in value.
  • Companies whose returns on the capital they employ are well in excess of the costs of that capital.
  • Companies whose returns are mainly driven from returns on sales and assets and not leverage.

Adherence to our criteria means there is a restricted universe from which to invest and the number of companies in our fund will be between 20-30.  This is a sufficient number to provide adequate diversification whilst ensuring that only our best ideas are invested in the fund.

We invest in companies for the long term and do not speculate on short term price movements.  This normally results in low turnover which also reduces the cost of managing the fund.

Share class costs:

The managers have capped the cost of each share class and include all fund costs except stamp duty and broker commission.

   'A Share Class' 1% capped management fee minimum investment £10,000
      Income GB00BV0LF599   Accumulation GB00BV0LF60

   'B Share Class' 0.8% capped management fee minimum investment £2,000,000
      Income GB00BV0LF714   Accumulation GB00BV0LF821

   'C Share Class' 0.6% capped management fee minimum investment £20,000,000
      Income GB00BV0LF938   Accumulation GB00BV0LFB59

Current factsheet

Quarterly investor letter

Prospectus

Key Investor Information Class A Net
  Class B Net
  Class C Net

The latest net asset value per share is as follows:

A Class GBP Net Inc 110.4453p
A Class GBP Net Acc 123.5051p
B Class GBP Net Inc 112.5374p
B Class GBP Net Acc 112.0728p
C Class GBP Net Inc 100.0000p
C Class GBP Net Acc 127.1152p
 
 
Net Asset Value as at 12:00 on 19th December 2018.

 

Past performance is not necessarily an indication of future results

 
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0.005782 Last Update: December 19th, 2018