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Transcript of Platform Factsheet Nov 2012
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7/30/2019 Platform Factsheet Nov 2012
1/7
INVESTMENT MANAGERS:
Patrick Toes
Investment Director with over
20 years experience in fund
management. Previously a
member of Rensburg
Sheppards Asset Allocation and Fund
Selection Committees for over 9 years.
David Cowell
Chief Executive, possessing
over 40 years experience in
financial services, with over 25
years being investment
management focussed.
SALES:
Julie Jones
Julie has over 20 yearsexperience of working in
investment sales and
marketing, previously as Head
of UK Retail Sales for BNY Mellon
(Newton Investment Management).
MONTHLY COMMENTARY NOVEMBER 2012
On PlatformOn PlatformOn PlatformOn Platform
A quick prcis of November which was a decentmonth for equities in performance terms (up 1 -
2%); gilts and the IMA 20-60% equity sector
followed suit rallying 0.8%, whereas the 40-85%
equity sector moved higher by 1.1%. Our moderate
risk and speculative risk portfolios did modestly
better than their benchmarks, IMA 20-60% & 40-
85% equity sectors, rising 1% and1.3%. We have
maintained our slight overweight in equity but
positioned in a number of defensive areas. We
remain unrepentantly cautious investors and
consider that having seen FTSE All Share index
return in excess of 11% against a back drop of
weakening growth and with several potholes as
yet to be navigated, being cautious but not
negative is prudent.
We said in last months commentary we would
review the developing and emerging markets as
well as the last of the developed regions, Japan,
whose delayed review will become obvious as we
progress. Japan, the land of the rising Yen (excuse
the pun), has so often been the market which has
failed to deliver and has struggled against the
currency headwind in recent years. The
fundamentals point to a country whose currency
the Bank of Japan to take more aggressive andsustained policy action. Again markets have rallied
hard but this time we have decided to sell. Why?
We have seen many false dawns from Japan
trying to devalue their currency only to find other
nations to retaliate with their own action. The
currency outcome between developed countries
has therefore changed little. We are concerned that
if Abe fails, Japanese equities may lurch back into
obscurity once more.
We consider that mergers and acquisitions wil
become a growing theme as we move through
2013 and have used the proceeds from the sale of
our Japanese holding to take a position in smaller
companies.
Returning to our outlook, we view Asia in particularvery positively and it remains an area we are
overweight, as has been the case for several years
We see Asian growth and valuation, from a top-
down perspective, as very attractive and subject to
fewer issues than in developed markets. For the
l ast couple of years we h ave had som e
reservations about China and believe tha
consensus has - and continues to be - overly
bullish at the corporate level. That being said,
IMPORTANT INFORMATION
This information has been approved for
di stributi on to professional investors. The
information in this document is bel ieved to be
correct but cannot be guaranteed. Opinions and
forecasts constituteour judgment as at thedate of
issue and are subject to change without notice.
Certain investments carry a higher degree of risk
than othersand are, therefore, unsuitable forsome
investors. Past performance is nota guideto future
performance and may not be repeated. The value
of investments and the income from them maygo
downas wellas upand investorsmay not get back
the amounts originally invested. Before
contemplating any transaction, you should consult
your financial adviser. This material is notintended
as an offer or solicitation forthe purchaseor sale of
any s ecu ri ty or any oth er act ion, with ou t f irs t
seeking advice as to the suitability of it for your
needs.
* Platformperformance / allocation maydiffer from
m od el d epend in g on plat form availabi lit y of
underlying investments.
Myddleton Croft Investment Managers, 1 Woodside Mews, Clayton Wood Close, Leeds, LS16 6QE
T: 0113 274 7700 F: 0113 274 7711 E-mail: [email protected] Website: www.myddletoncroft.co.ukMyddleton Croft Ltd is authorised and regulated by the Financial Services Authority. Registered in England & Wales number 05782909. VAT number UK 889 241088.
Registered office: 11 Clifford Avenue, Ilkley, LS29 0AS.
For further information call :
0113 274 7700Email : [email protected]
Or visit us at :
www.myddletoncroft.co.uk
should be substantially weaker a falling trade
surplus; interest payments constitute 25% of
spending; weakening demographics allied to large
deficits, and national debt in excess of 200% of
GDP. Moreover, if older domestic investors draw
down their capital from the bond market, will foreign
investors make up the difference when yields areonly 0.6% on ten year paper? We saw the Yen as a
potential victim of its weakening internal economy
and as such we saw an opportunity to profit from
owning quality exporters (with the yen hedged),
albeit a very small holding. In the first quarter, with
the Yen looking as though it had finally broken that
uptrend, the Nikkei was one of the best performing
markets in the world; but no, yet again it was a
false dawn.
The likely next Prime Minister, Abe, has targeted a
3% inflation rate, as well as suggesting changes at
emerging markets do not only consist of China and
we have in mind to add to them, perhaps as
markets become more nervous in the months
ahead.
"A merry Christmas to us all, my dears. God
bless us!" Which all the Cratchit family re-echoed. "God bless us, every one!" said Tiny
Tim
A Christmas Carol (Charles Dickens)
All of us at Myddleton Croft would like to echo
that message to all those who have supported us
this year, for all clients and advisers who
continue to support us and with a fair wind, those
who are about to. We wish you and yours all the
best for the festive season.
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7/30/2019 Platform Factsheet Nov 2012
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Myddleton Croft Defensive Risk Model NOVEMBER 2012
PERFORMANCE SINCE LAUNCH
2012 PERFORMANCE
On PlatformOn PlatformOn PlatformOn Platform
INVESTMENT MANAGERS:
Patrick Toes
Investment Director with over
20 years experience in fund
management. Previously a
member of Rensburg Sheppards
Asset Allocation and Fund Selection
Committees for over 9 years.
David Cowell
Chief Executive, possessing over
40 years experience in financial
services, with over 25 years
being investment management
focussed.
SALES:
Julie Jones
Julie has over 20 yearsexperience of working in
investment sales and marketing,
previously as Head of UK Retail
Sales for BNY Mellon (Newton Investment
Management).
Myddleton Croft Investment Managers, 1 Woodside Mews, Clayton Wood Close, Leeds, LS16 6QE
T: 0113 274 7700 F: 0113 274 7711 E-mail: [email protected] Website: www.myddletoncroft.co.ukMyddleton Croft Ltd is authorised and regulated by the Financial Services Authority. Registered in England & Wales number 05782909. VAT number UK 889 241088.
Registered office: 11 Clifford Avenue, Ilkley, LS29 0AS.
ASSET ALLOCATION
For further information call :
0113 274 7700Email : [email protected]
Or visit us at :
www.myddletoncroft.co.uk
Platform model portfolios include the cost of
underlying investments and Myddleton Crofts
annual management fees but not the
respective platform charges.
IMPORTANT INFORMATION
This information has been approved for distribution
to retail and professional investors only. The
information in this document is believed to be
correct but cannot be guaranteed. Past
performance is not a guide to future performancean d ma y no t b e r epe at ed . T he v al ue of
investments and the income from them may go
down as well as up and investors may not get back
the amounts originally invested. Before
contemplating any transaction, you should consult
your financial adviser. This material is not intended
as an offer or solicitation for the purchase or sale of
any security or any other action, without first
seeking advice as to the suitability of it for your
needs.
* Platform performance / allocation may differ from
model depending on platform availability of
underlying investments.
-
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Myddleton Croft Cautious Risk Model NOVEMBER 2012
PERFORMANCE SINCE LAUNCH
2012 PERFORMANCE
INVESTMENT MANAGERS
Patrick Toes
Investment Director with over 20
years experience in fund
management. Previously a member
of Rensburg Sheppards Asset
Allocation and Fund Selection Committees for
over 9 years.
David Cowell
Chief Executive, possessing over 40
years experience in financial
services, with over 25 years being
investment management focussed.
SALES:
Julie Jones
Juliehas over 20 years experience of workingin investment sales and marketing,
previously as Head of UK Retail Sales
for BNY Mellon (Newton Investment
Management).
On PlatformOn PlatformOn PlatformOn Platform
Myddleton Croft Investment Managers, 1 Woodside Mews, Clayton Wood Close, Leeds, LS16 6QE
T: 0113 274 7700 F: 0113 274 7711 E-mail: [email protected] Website: www.myddletoncroft.co.ukMyddleton Croft Ltd is authorised and regulated by the Financial Services Authority. Registered in England & Wales number 05782909. VAT number UK 889 241088.
Registered office: 11 Clifford Avenue, Ilkley, LS29 0AS.
ASSET ALLOCATION
Platform model portfolios include cost of underlying
investments and Myddleton Crofts annual
management fees, but not the respective platform
charges.
For further information call :
0113 274 7700Email : [email protected]
Or visit us at :
www.myddletoncroft.co.uk
IMPORTANT INFORMATION
This information has been approved for distribution
to retail and professional investors only. The
information in this document is believed to be correct
but cannot be guaranteed. Past performance is not a
guide to future performance and may not be
repeated. The value of investments and the income
from them may go down as well as up and investorsmay not get back the amounts originally invested.
Before contemplating any transaction, you should
consult your financial adviser. This material is not
intended as an offer or solicitation for the purchase
or sale of any security or any other action, without
first seeking advice as to the suitability of it for your
needs.
* Platform performance / allocation may differ from
model depending on platform availability of
underlying investments.
-
7/30/2019 Platform Factsheet Nov 2012
4/7
IMPORTANT INFORMATION Myddleton Croft Moderate Risk Model NOVEMBER 2012
PERFORMANCE SINCE LAUNCH
2012 PERFORMANCE
On PlatformOn PlatformOn PlatformOn Platform
INVESTMENT MANAGERS:
Patrick Toes
Investment Director with over
20 years experience in fund
management. Previously a
member of Rensburg Sheppards
Asset Allocation and Fund Selection
Committees for over 9 years.
David Cowell
Chief Executive, possessing over
40 years experience in financial
services, with over 25 years
being investment management
focussed.
SALES:
Julie Jones
Julie has over 20 yearsexperience of working in
investment sales and marketing,
previously as Head of UK Retail
Sales for BNY Mellon (Newton Investment
Management).
Myddleton Croft Investment Managers, 1 Woodside Mews, Clayton Wood Close, Leeds, LS16 6QE
T: 0113 274 7700 F: 0113 274 7711 E-mail: [email protected] Website: www.myddletoncroft.co.ukMyddleton Croft Ltd is authorised and regulated by the Financial Services Authority. Registered in England & Wales number 05782909. VAT number UK 889 241088.
Registered office: 11 Clifford Avenue, Ilkley, LS29 0AS.
ASSET ALLOCATION
or ur er n orma on ca :
0113 274 7700Email : [email protected]
Or visit us at :
www.myddletoncroft.co.uk
Platform model portfolios include the cost of
underlying investments and Myddleton Crofts
annual management fees but not the
respective platform charges.
IMPORTANT INFORMATION
This information has been approved for distribution
to retail and professional investors only. The
information in this document is believed to be
correct but cannot be guaranteed. Past
performance is not a guide to future performance
and may not be repeated. The value of
investments and the income from them may godown as well as up and investors may not get back
the amounts originally invested. Before
contemplating any transaction, you should consult
your financial adviser. This material is not
intended as an offer or solicitation for the purchase
or sale of any security or any other action, without
first seeking advice as to the suitability of it for your
needs.
* Platform performance / allocation may differ from
model depending on platform availability of
underlying investments.
-
7/30/2019 Platform Factsheet Nov 2012
5/7
Myddleton Croft Progressive Risk Model NOVEMBER 2012
PERFORMANCE SINCE LAUNCH
2012 PERFORMANCE
On PlatformOn PlatformOn PlatformOn Platform
NOTE: THE ADVENTUROUS RISK MODEL HAS BEEN RENAMED THE PROGRESSIVE RISK MODEL
INVESTMENT MANAGERS:
Patrick Toes
Investment Director with over
20 years experience in fund
management. Previously a
member of Rensburg Sheppards
Asset Allocation and Fund Selection
Committees for over 9 years.
David Cowell
Chief Executive, possessing over
40 years experience in financial
services, with over 25 years
being investment management
focussed.
SALES:
Julie Jones
Julie has over 20 yearsexperience of working in
investment sales and marketing,
previously as Head of UK Retail
Sales for BNY Mellon (Newton Investment
Management).
Myddleton Croft Investment Managers, 1 Woodside Mews, Clayton Wood Close, Leeds, LS16 6QE
T: 0113 274 7700 F: 0113 274 7711 E-mail: [email protected] Website: www.myddletoncroft.co.ukMyddleton Croft Ltd is authorised and regulated by the Financial Services Authority. Registered in England & Wales number 05782909. VAT number UK 889 241088.
Registered office: 11 Clifford Avenue, Ilkley, LS29 0AS.
ASSET ALLOCATION
For urt er n ormat on ca :
0113 274 7700Email : [email protected]
Or visit us at :
www.myddletoncroft.co.uk
Platform model portfolios include the cost of
underlying investments and Myddleton Crofts
annual management fees but not the
respective platform charges.
IMPORTANT INFORMATION
This information has been approved for distribution
to retail and professional investors only. The
information in this document is believed to be
correct but cannot be guaranteed. Past
performance is not a guide to future performance
and may not be repeated. The value of
investments and the income from them may godown as well as up and investors may not get
back the amounts originally invested. Before
contemplating any transaction, you should consult
your financial adviser. This material is not
intended as an offer or solicitation for the purchase
or sale of any security or any other action, without
first seeking advice as to the suitability of it for your
needs.
* Platform performance / allocation may differ from
model depending on platform availability of
underlying investments.
-
7/30/2019 Platform Factsheet Nov 2012
6/7
Myddleton Croft Adventurous Risk Model NOVEMBER 2012
PERFORMANCE SINCE LAUNCH
2012 PERFORMANCE
On PlatformOn PlatformOn PlatformOn Platform
NOTE: THE HIGHLY ADVENTUROUS RISK MODEL HAS BEEN RENAMED THE ADVENTUROUS RISK MODEL
INVESTMENT MANAGERS:
Patrick Toes
Investment Director with over
20 years experience in fund
management. Previously a
member of Rensburg Sheppards
Asset Allocation and Fund Selection
Committees for over 9 years.
David Cowell
Chief Executive, possessing over
40 years experience in financial
services, with over 25 years
being investment management
focussed.
SALES:
Julie Jones
Julie has over 20 yearsexperience of working in
investment sales and marketing,
previously as Head of UK Retail
Sales for BNY Mellon (Newton Investment
Management).
Myddleton Croft Investment Managers, 1 Woodside Mews, Clayton Wood Close, Leeds, LS16 6QE
T: 0113 274 7700 F: 0113 274 7711 E-mail: [email protected] Website: www.myddletoncroft.co.ukMyddleton Croft Ltd is authorised and regulated by the Financial Services Authority. Registered in England & Wales number 05782909. VAT number UK 889 241088.
Registered office: 11 Clifford Avenue, Ilkley, LS29 0AS.
ASSET ALLOCATION
26%
37%
8%
4%
3%
16%
6% UK Equities
International Equities
Alternatives
Commodities
UK Fixed Interest
Global Fixed Interest
Cash
For further information call :
0113 274 7700Email : [email protected]
Or visit us at :
www.myddletoncroft.co.uk
Platform model portfolios include the cost of
underlying investments and Myddleton Crofts
annual management fees but not the
respective platform charges.
IMPORTANT INFORMATION
This information has been approved for distribution
to retail and professional investors only. The
information in this document is believed to be
correct but cannot be guaranteed. Past
performance is not a guide to future performance
a nd ma y n o t be r ep ea te d. T he v al ue of
investments and the income from them may godown as well as up and investors may not get back
the amounts originally invested. Before
contemplating any transaction, you should consult
your financial adviser. This material is not intended
as an offer or solicitation for the purchase or sale of
any security or any other action, without first
seeking advice as to the suitability of it for your
needs.
* Platform performance / allocation may differ from
model depending on platform availability of
underlying investments.
-
7/30/2019 Platform Factsheet Nov 2012
7/7
Myddleton Croft Speculative Risk Model NOVEMBER 2012
PERFORMANCE SINCE LAUNCH
2012 PERFORMANCE
On PlatformOn PlatformOn PlatformOn Platform
INVESTMENT MANAGERS:
Patrick Toes
Investment Director with over
20 years experience in fund
management. Previously a
member of Rensburg Sheppards
Asset Allocation and Fund Selection
Committees for over 9 years.
David Cowell
Chief Executive, possessing over
40 years experience in financial
services, with over 25 years
being investment management
focussed.
SALES:
Julie Jones
Julie has over 20 yearsexperience of working in
investment sales and marketing,
previously as Head of UK Retail
Sales for BNY Mellon (Newton Investment
Management).
Myddleton Croft Investment Managers, 1 Woodside Mews, Clayton Wood Close, Leeds, LS16 6QE
T: 0113 274 7700 F: 0113 274 7711 E-mail: [email protected] Website: www.myddletoncroft.co.ukMyddleton Croft Ltd is authorised and regulated by the Financial Services Authority. Registered in England & Wales number 05782909. VAT number UK 889 241088.
Registered office: 11 Clifford Avenue Ilkley LS29 0AS
ASSET ALLOCATION
For further information call :
0113 274 7700Email : [email protected]
Or visit us at :
www.myddletoncroft.co.uk
Platform model portfolios include the cost of
underlying investments and Myddleton Crofts
annual management fees but not the
respective platform charges.
IMPORTANT INFORMATION
This information has been approved for distribution
to retail and professional investors only. The
information in this document is believed to be
correct but cannot be guaranteed. Past
performance is not a guide to future performance
and may not be repeated. The value of investments
and the income from them may go down as well asup and investors may not get back the amounts
originally invested. Before contemplating any
transaction, you should consult your financial
adviser. This material is not intended as an offer or
solicitation for the purchase or sale of any security
or any other action, without first seeking advice as
to the suitability of it for your needs.
* Platform performance / allocation may differ from
model depending on platform availability of
underlying investments.