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TM Redwheel Global Equity Income - Awarded A rating

Posted @ 18/09/2023 16:47 Posted in Ratings Roundup

We are pleased to announce that we have awarded the TM Redwheel Global Equity Income Fund an A rating. This high conviction global equity income mandate is managed by Nick Clay and deputy-manager Andrew MacKirdy, both of whom have considerable equities management experience and have worked together since 2012.

The fund has exhibited a good performance track record since its launch at Redwheel in November 2020 (and has a longer, robust record in the form of a composite including the managers’ time at BNY Mellon). It is underpinned by a simple philosophy that the compounding of dividends is the most statistically significant driver of long-term equity returns.

The fund maintains a strict yield discipline ensuring that every stock always compounds at a higher yield than that of the market. A focus on cash flows and business models with an “ability to suffer” underwrites the consistency of the income return and adds a quality component to its process. Using these tools predominately, the fund managers seek to tilt the probabilities of investing into their favour.

The fund (and its longer-term composite) has exhibited consistent resilience in market drawdowns because of its more defensive nature. However, it might be expected to underperform when the market is driven by growth factors or dominated by stocks which place less importance on dividends. The strategy in both its current and previous forms has a good distribution history and maintains a strong yield.

We believe this fund is suitable for investors who are seeking a robust dividend stream from a global mandate, but with a total return mindset and a lower volatility profile than the broader market.

Visit the TM Redwheel Global Equity Income fund page