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Bob Macondale
Posted: 29 January 2024 22:44:03(UTC)
#1

Joined: 24/03/2018(UTC)
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I have been in this for a while and showing 25% upside. On one hand, showing a tidy profit but on the other, 3 out of the last 4 years it has been pretty much flat.

It’s main selling point is that it holds up well in down markets. I hate selling stuff which is showing a profit but this has badly under performed my other funds with a similar mandate; Royal London Global Equity Inc, Guinness Global Equity Inc, GGRG, plus global tracker.

Would be interested if anyone holds this (or has considered it) and views on current performance and how much slack you give it in lieu of fairly decent downside record.

(If I sell, I will simply top up my existing holdings.)
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2 users thanked Bob Macondale for this post.
Guest on 31/01/2024(UTC), North Star on 05/02/2024(UTC)
Law Man
Posted: 31 January 2024 15:10:42(UTC)
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Joined: 29/04/2014(UTC)
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I too hold Trojan Global Income O class as part of my Equity Income holdings. It seems solid - low volatility but below average performance. The holdings are 52% USA and 31% UK: this last may explain. Holdings are ‘Core’ with a slight tilt to ‘Value’ and 82% Large Cap [statistics from Fidelity].

For comparison, my Evenlode Global Income B class has done better. It has 33% in USA, 24% UK, 38% rest of Europe. Again it is balanced but with a Growth tilt; 80% Large Caps. Have a look at that as a possible alternative to TGI.


I have thought about replacing it, but TGI gives some difference from other Equity Income so probably I shall hang on for the moment.
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3 users thanked Law Man for this post.
Guest on 31/01/2024(UTC), Bob Macondale on 31/01/2024(UTC), North Star on 01/02/2024(UTC)
smg8
Posted: 01 February 2024 13:28:45(UTC)
#3

Joined: 26/04/2020(UTC)
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If it was bought specifically for the performance in a downmarket, is it fair to compare how it's done on the upside vs a global tracker?

I think this fund is more looking at absolute returns rather than relative returns, likely has a very high active share and a quality bias.

Looking at performance in a downmarket, has it done its job? Compared to a global tracker;

5 yr std deviation: 9.81 (vs 12.46)
Worst month: -9.87 (vs -15.82)
Returns: 7.72 ann vs 12.05 ann

It seems to have done the job advertised, at least using past performance.

So really the question is do you still want a holding that performs well on the downside and doesnt participate in all the upside or do you want to switch it for something captures all the upside and doesnt protect on the way down.

Personally it's not one for me as the holdings look like the lovechild of Morgan Stanley Global Brands and Nick Train, and 0.95% is a high fee for a straight global equity fund.
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3 users thanked smg8 for this post.
Lemanie on 01/02/2024(UTC), Bob Macondale on 01/02/2024(UTC), Law Man on 02/02/2024(UTC)
OmegaMale
Posted: 05 February 2024 12:11:03(UTC)
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I hold BG Global Income Growth B Inc for a similar purpose. It costs 0.54% which is notably less and its performance has been better over the last 5 years. Who knows what will happen going forward but currently happy to hold.

Over the last 5 years:
Baillie Gifford Global Income Growth B Inc 18.32% 16.66% 13.07% 3.25% 6.29%
Trojan Global Income O Inc 19.68% -2.08% 15.55% 1.34% 4.72%

OM
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3 users thanked OmegaMale for this post.
North Star on 05/02/2024(UTC), Bob Macondale on 06/02/2024(UTC), Guest on 02/05/2024(UTC)
JCAS
Posted: 05 February 2024 20:38:31(UTC)
#6

Joined: 19/07/2020(UTC)
Posts: 84
I've got Vanguard Global Equity Income Fund as a compliment to GGRG. 0.52% fee. It gets a mention in this article 'Low Cost Index Funds' albeit this one is active.

https://monevator.com/low-cost-index-trackers/
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North Star
Posted: 05 February 2024 22:48:53(UTC)
#5

Joined: 22/05/2014(UTC)
Posts: 438
OmegaMale;295171 wrote:
I hold BG Global Income Growth B Inc for a similar purpose. It costs 0.54% which is notably less and its performance has been better over the last 5 years. Who knows what will happen going forward but currently happy to hold.

Over the last 5 years:
Baillie Gifford Global Income Growth B Inc 18.32% 16.66% 13.07% 3.25% 6.29%
Trojan Global Income O Inc 19.68% -2.08% 15.55% 1.34% 4.72%

OM


And a good holding of nearly 5% in Novo Nordisk A/S Very impressive prospects for this company.
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