By STEPHEN MARRIOTT 16/07/2009
Managed by Sebastian Lyon, one of the original founders of Troy Asset Management, this fund pursues an active asset allocation strategy in order to capture a wide range of potential performance opportunities. Assets primarily include equities, bonds, gold and cash. The aim is to protect capital during volatile markets as well as increasing value year on year. Returns have been good but note negative absolute returns are still possible and have occurred in the past.
The fund has been awarded three stars and is appropriate for those investors looking for a core approach to asset allocation decisions. Investors may also wish to consider Personal Assets Trust (a close ended investment company), also run by Lyon and managed in the same manner as Trojan. However, the trust can gear and usually trades at a premium to its asset value.
Note Trojan units are currently traded on a weekly basis and there is a dilution levy of 0.5% charged when buying and selling the fund.