FP Matterley Undervalued Assets
This fund has been managed by Henry Dixon, one of the founders of Matterley, since its launch in 2008. With it ranking in the top quartile of the IMA UK All Companies sector across one, three and five years, the fund’s small size belies its strong performance.
Its aim is to achieve long-term capital growth by investing predominately in UK equities that the manager considers to be “undervalued relative to its asset base” and their returns on capital.
The portfolio itself is relatively concentrated with approximately 69 holdings. At 32 per cent, the largest sector weighting is in financials. Industrials account for 18 per cent.
Its top 10 holdings include UK equity stalwarts such as Royal Dutch Shell, BP, Vodafone and HSBC – its largest holding at 6.4 per cent.
What the judges say
An entrepreneurial approach and very esoteric process were a breath of fresh air for the judging panel.
Club members
&G UK Alpha Trust
MFM Slater Growth
R&M UK Equity Long Term Recovery
S&W Revera
UK Dynamic
In numbers
£95.4m
Fund size
169.84%
Five-year actual return
0.87%
Ongoing charge
