Personal Assets Trust
Company Notes
Proven record of absolute returns with low volatility
Personal Assets Trust is expressly run for private investors with an investment policy “to protect and increase (in that order) the value of shareholders' funds per share over the long term”. Troy Asset Management was appointed investment manager with effect from 1 May this year after being the investment adviser since March 2009. This has not had any impact on the management of the fund. Personal Assets Trust has a longstanding zero discount policy which has seen regular issuance and occasional buybacks. So far this year, shares worth £147m have been issued.
Since March 2009, the fund has generated a NAV total return of 152%, equivalent to an annualised return of 8.2%. So far in 2020, it has generated a NAV total return of 7.7% compared with a decline for the FTSE All Share Index of 13.2% and a fall of 3.3% for its Flexible Investment peer group. This outperformance is a result of the performance of its equity portfolio, particularly technology and consumer staples holdings, while the exposure to gold bullion has also proven beneficial.
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