The fund aims to grow investors' capital and income over time at a rate above inflation.
The investment objective of the Balanced Fund is to maximise the total return to investors, by preserving and growing the real value of your capital and income, placing an equal emphasis on the generation of income and on capital growth. Real value is defined as the value of capital and income after adjusting for the impact of inflation.
You should intend to invest for a minimum of 3 years, although you can access your capital at any time. The fund is only suitable for investors who are prepared to accept the risk of some loss of their capital.
Top 10 equity holdings |
% |
|---|---|
| Shimadzu | 3.1 |
| Kerry | 3.0 |
| Asahi Intecc | 2.9 |
| Mettler-Toledo | 2.8 |
| Watsco | 2.6 |
| Air Liquide | 2.6 |
| Schneider Electric | 2.6 |
| Olympus | 2.6 |
| Edwards Lifesciences | 2.6 |
| Nissan Chemical | 2.4 |
Target asset and geographic allocations as at 30th September 2024. Actual allocations may vary.
Top 10 equity holdings are accurate as at 30th September 2024.
Source: McInroy & Wood other than the UK RPI (Office of National Statistics).
The graph shows the growth in an initial investment of £1,000 over the time period selected assuming reinvestment of income on the xd date. The table shows total return as a percentage in UK sterling including the reinvestment of income on the XD date.
XD (Ex-Dividend Date) is the date on which the fund begins trading without the value of its next dividend payment. If you buy the fund on or after XD, you won’t receive the upcoming dividend. If you own the fund before XD, you will receive the dividend, even if you sell the stock later.
| 1 Year | 3 Years | 5 Years | 10 Years | Inception | |
|---|---|---|---|---|---|
| Cumulative Return | 5.7% | 4.3% | 27.3% | 83.3% | 1201.9% |
| Cumulative RPI | 3.4% | 25.2% | 34.5% | 51.6% | 226.9% |
| Annualised Return | 5.7% | 1.4% | 5.0% | 6.2% | 7.7% |
| Annualised RPI | 3.4% | 7.8% | 6.1% | 4.2% | 3.5% |
| YTD to 30/11/2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Discrete annual returns | 1.9% | 5.2% | -4.2% | 11.1% | 12.1% | 12.2% | -2.0% | 6.5% | 18.6% | 2.9% |
The Annualised Return represents the average annual return of the fund over a set number of years. It is calculated using a geometric average which means that it captures the effects of compounding over the years.
Please note that the returns shown are historic and should not be taken as a guide to or guarantee of likely future returns. Please be aware that the value of investments and the income they generate may go down as well as up.
We manage The Balanced Fund on the same rigorous principles as our private client portfolios. This simple and straightforward approach seeks to identify quality businesses that we can hold for the long term. We do not use market benchmarks to guide our investment allocations. Instead, we focus on making the right decisions to meet the fund’s objectives, without having to follow the herd.
We draw on our team’s collective experience to evaluate the merit of every investment. Allocations are regularly reviewed and actively managed to adjust the fund’s exposure to different themes, countries, and risks, so they are tailored for prevailing market conditions. We have chosen to invest directly to ensure we keep control over every investment.
For more details see our Investment approach or contact us.
The fund’s portfolio strategy is based on diversification by asset class and geography. Bond holdings are in relatively short-dated US, UK and Swiss government issues.
Recent returns from financial markets have been mixed. The US equity market rose after the Federal Reserve cut interest rates, and again following Donald Trump’s election. Meanwhile, Emerging Markets have been boosted by the positive reaction to government stimulus in China. However Japanese and European share prices have been weaker, and UK equities and bonds were affected by the government’s budget.
To date, the world economy has proved more resilient than anticipated, but the pace of growth has reduced and there is considerable divergence across different regions. While investors expect Donald Trump’s presidency will be positive for corporate prospects, recent gains in US share prices have left many companies, particularly some of the larger technology stocks, looking fully valued. More generally, there are concerns that global trade will be impacted by Trump’s enthusiasm for high tariffs.
In these circumstances, sensible diversification by asset class and geography, and careful equity selection based on fundamental analysis, remain the key elements of our investment strategy.
Commentary updated on 30th November 2024.
We offer income and accumulation class units. The decision whether to buy income or accumulation units will depend on whether you would prefer to receive the income as cash or would like it to be automatically reinvested.
The fund is a UK UCITS authorised unit trust. As such there are tax considerations: individuals can defer incurring capital gains tax until units in the fund are sold, and the portfolio of underlying investments are managed without tax constraints.
The fund can be held in ISAs, JISAs and SIPPs.
The value of an investment, and any income from it, may go down as well as up and you may get back less than you originally invested. Past performance is not a guide to future performance. You should always seek appropriate advice from their financial adviser before committing funds for investment. Further information is available in the Key Investor Information Document (KIID), the risk section of the Fund’s prospectus and the Fund Factsheet. Please read the KIID before making any investment decision.
The McInroy & Wood Funds (i.e. the McInroy & Wood Balanced Fund, the McInroy & Wood Income Fund, the McInroy & Wood Smaller Companies Fund, and the McInroy & Wood Emerging Markets Fund) are not marketed outside of the UK and the information regarding the McInroy & Wood Funds on this website is not intended to be used by, or to be available to, persons accessing the website from outside the United Kingdom. We do not accept applications by, or on behalf of, US Persons (being a national, citizen, or resident of the United States of America or a corporation or partnership organised under the laws of the United States of America or having a principal place of business in the United States).
The distribution of the information and documentation on this website may be restricted by law in certain countries. This website, and the information and documentation on it, are not addressed to any person resident in the territory of any country or jurisdiction where such distribution would be contrary to local law or regulation. All persons accessing this website should check their local regulations before considering investment.
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£500
£100 minimum monthly investment
ISA, JISA, SIPP
23rd February 1990
UK UCITS authorised unit trust
at 12 noon on 20/12/2024
Acc: Income will be automatically reinvested and retained within the fund, increasing the unit price.
Inc: Income from the fund will be paid directly to you.
Historic dividend yield reflects distributions declared over the past 12 months as a percentage of the unit price. You should remember that the price of units and the income from them may go down as well as up. Past performance should not be used as a guide to future performance.
Nil
Nil
Nil
Our funds are also available through various platforms.
Please do not hesitate to contact us should you have any questions.
EMT and EPT files are available on request.
Equity market returns have been narrowly concentrated in recent years. But the unpredictability of market timing highlights the need for a disciplined investment approach and a diversified portfolio of global companies.
Searching for soundly financed businesses with strong competitive positions has been fundamental to our investment approach since 1986 and has contributed to our long-term performance.
Inflationary pressures appear to be easing, and for the first time in decades cash deposits offer an attractive return. So why invest in shares? In this video, we share our thoughts on the economic outlook and the importance of investing in quality companies.
