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GuardCap Global Equity I GBP

Bestinvest LogoLarge-cap international equity fund focusing on companies offering sustainable growth.

PRICE (INC)

1438p

PRICE (ACC)

2752.6p

INITIAL CHARGE

0%

ANNUAL MANAGEMENT CHARGE

0.8%

ONGOING CHARGE

0.9%

YIELD

0.2%

1 YEAR
0.20%

Prices as at 10 Aug 2022.

Fund commentary last updated 05 Oct 2021.

Past performance is not an indication of future performance.

Capital at risk.

The fund seeks to produce long-term, excess returns against the MSCI World Index over rolling five-year periods. Lead managers Michael Boyd and Giles Warren invest in large-cap companies which they believe will produce double-digit, sustained long-term growth in earnings and cashflow even during tough economic times. Current holdings include Google owner Alphabet and sportswear giant Nike. The managers favour having a concentrated portfolio of between 20 and 25 stocks and look to hold them for between 5 and 10 years as they grow in both profit and value. They take an entirely bottom-up approach to investing, diligently researching a company’s fundamentals, including cashflow generation and the dynamism of its management teams.

Fund summary

SectorGlobal
StructureOFFSHORE FUND
LaunchedJuly 2015
Size£2,347m
Yield0.2%
Charging BasisIncome
Dividends paid30 Apr

Charges

Standard Initial Charge0%
Initial Charge Via BestInvest0%
Additional Bid/Offer Spread0%
Annual Management Charge0.8%
Ongoing Charges Figure0.9%

Investment Process

Boyd and Warren believe markets are too short-term focussed and fail to attribute sufficient value to the longer-term earnings and cash flows of sustainably growing companies. In contrast their fund looks to emphasise long-term thinking, forecasting and longer holding periods. The bottom-up investment process looks at whether companies meet their 10 Point Confidence Criteria. These include a proven track record of growth through hard economic times, businesses which are mature and not in a “sexy growth” phase, sector tailwinds, high returns on invested capital, little or no debt and business diversification. They also calculate a fair value for the companies based on factors such as cash flow and Price to Earnings ratio. The team relies on their inherent, expert knowledge to find companies which could fit the criteria as well as using quantitative screens. They meet 100 companies a year and have a DORA (days out researching anything) scheme, where the team steps out of the office and takes time to look at and discuss emerging trends. Through this process a High Confidence Pool of up to 50 companies is created. Portfolio investment decisions are made by Boyd and Warren jointly, only selecting stocks from the Pool.

The information on this website is not intended to be advice or a recommendation to buy, sell or hold any investment mentioned. The value of investments and the income from them can go down as well as up and you may not get back the amount invested.

Past performance is not a guide to future performance. View full risk warning