FACTSHEET
31 August 2016
CM Newton Multi-Asset Diversified Return
Life Fund
This fund was previously known as the CM Newton Phoenix Fund. The underlying fund, the
Newton Phoenix Multi-Asset fund, has been renamed as the Newton Multi-Asset Diversified Return
fund. The fund's aim has not changed.
Asset Allocation
■
■
■
■
■
■
■
■
■
■
United Kingdom Equity
34.6%
Other
28.3%
United Kingdom Fixed Interest
8.8%
Cash
6.1%
United States Equity
5.7%
New Zealand Fixed Interest
Far East Commodities, United Kingdom
Commodities
United States Fixed Interest
3.9%
Germany Equity
3.1%
Australia Fixed Interest
2.6%
3.5%
3.4%
This document is provided for the purpose of
information only. This factsheet is intended for
individuals who are familiar with investment
terminology. Please contact your financial
adviser if you need an explanation of the terms
used. This material should not be relied upon as
sufficient information to support an investment
decision. The portfolio data on this factsheet is
updated on a quarterly basis.
Fund Aim
To achieve long-term capital growth from a
balanced portfolio in a range of international
markets measured against a benchmark of Libor
GBP 1 Month + 2% per annum.
Basic Fund Information
Fund Launch Date
11/01/2005
Fund Size
£7.8m
Sector
The composition of asset mix and asset allocation may change at any time and exclude cash
unless otherwise stated
ABI Specialist
ISIN
GB00B04QY451
MEX ID
CMNPL
SEDOL
B04QY45
Manager Name
Paul Flood, Jon Bell
Manager Since
01/02/2012
Top Ten Holdings
NEW ZEALAND LOCAL GOVT
FUND.4.5% BDS 15/04/2027 NZD
3.1%
AUSTRALIA (COMMONWEALTH).3.25%
BDS 21/04/2029 AUD1000
2.6%
GCP INFRASTRUCTURE INVESTMENTS
LTD
2.5%
VPC SPECIALTY LENDING
INVESTMENTS PLC C
2.2%
JOHN LAING ENVIRONMENTAL ASSET
2.0%
BH GLOBAL LIMITED
1.9%
BH MACRO LTD
1.9%
GREENCOAT UK WIND PLC
1.8%
THE RENEWABLES INFRA GROUP LTD
1.8%
BLUEFIELD SOLAR INCOME FD LTD
1.7%
TOTAL % OF FUND
21.5%
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Past Performance
Fund Rating Information
30.0%
Overall Morningstar Rating
-
Morningstar Analyst Rating
-
25.0%
20.0%
FE Crown Rating
15.0%
10.0%
5.0%
Jun 16
Aug 16
Mar 16
Dec 15
Sep 15
Jun 15
Mar 15
Dec 14
Sep 14
Jun 14
Mar 14
Dec 13
Sep 13
Jun 13
Mar 13
Dec 12
Sep 12
Jun 12
Mar 12
Dec 11
-5.0%
Aug 11
0.0%
31/08/2011 - 31/08/2016 Powered by data from FE
CM Newton Multi-Asset Diversified Return
Past performance is not a guide to future performance. Investment value and income from it
may fall as well as rise, as a result of market and currency movements. You may not get back the
amount originally invested.
Discrete Performance
30/06/2015- 30/06/2014- 30/06/2013- 30/06/2012- 30/06/201130/06/2016 30/06/2015 30/06/2014 30/06/2013 30/06/2012
CM Newton Multi-Asset Diversified
Return
-0.2%
4.2%
6.3%
6.4%
-0.6%
Information is shown as unavailable if prior to the launch of fund.
Cumulative Performance
31/07/2016- 31/05/2016- 31/08/2015- 31/08/2013- 31/08/201131/08/2016 31/08/2016 31/08/2016 31/08/2016 31/08/2016
CM Newton Multi-Asset Diversified
Return
1.6%
7.1%
9.1%
16.8%
27.0%
Source: FE as at 31/08/2016
Performance figures are in £ sterling on a single pricing basis, with income (where applicable)
reinvested net of UK tax and net of total annual fund charges. These figures do not include any
initial charge or other product charge(s) that may be applicable.
The FE Crown Rating relates to this fund.
However, the Morningstar ratings are based on
the underlying fund. These are supplied by the
respective independent ratings agencies and are
the latest available at the time this factsheet was
issued. Past performance is not a reliable
indicator of future results.
Other Information
The views, opinions and forecasts expressed in
this document are those of the fund manager.
Investment markets and conditions can change
rapidly and as such the views expressed should
not be taken as statement of fact, not should
reliance be placed on these views when making
investment decisions
For further information contact your local sales
office or phone Customer Services on 0345 030
6243 (Life and Pensions) 0870 606 6472 (OEIC).
Details are also available at www.clericalmedical.
co.uk
Not all products have access to this fund, please
refer to the relevant product literature. Full terms
and conditions are available on
request from us using the contact details
provided. Charges, terms and the selection of
funds we make available may change.
Information on the general and specific risks
associated with investing in this fund is
available in the relevant fund guide, or KIID where
applicable. We may change the
investment approach rating for the fund. All
information is sourced from Scottish Widows or
the relevant fund management group unless
otherwise stated.
Quarterly Fund Manager Review
The Fund generated a positive return. Over a volatile period, the Fund’s overseas exposure and UK-listed holdings with global revenues, such as British
American Tobacco and new addition Diageo, performed well. The Fund’s government bond holdings also benefited. The haven-like characteristics of
many of the alternative holdings showed their worth over the quarter and in the days after the UK referendum vote. In particular, we saw strong
performance from Greencoat UK Wind. Overseas positioning in property was also beneficial. We had no equity stake in UK property, and this ensured
that the portfolio avoided the steep falls in the UK property sector following the referendum vote. Over the quarter we took the opportunity to increase the
position in Greencoat UK Wind. We added UK-listed spirits group Diageo to the portfolio after a run of underperformance, as its new management has
addressed longstanding issues. We initiated a holding in Japanese automobile and motorcycle manufacturer Suzuki Motor, owing to its compelling
valuation and its exposure to the Indian market. The Indian automotive market has huge growth potential, as China had 10 years ago, but with only four
main competitors (instead of 30 in China) and virtually no foreign competition. We sold the position in US semiconductor manufacturer Applied Materials
after very strong performance over a short period of time. We also sold the holding in German chemical company Bayer following its surprise bid for US
agricultural biotechnology company Monsanto. With the majority of the world’s government bonds providing a negative return, we see limited opportunity
in continuing to invest in the asset class. We sold the remaining position in US Treasuries after yields compressed to a level that now leaves very little in
the way of prospective returns. The portfolio’s only government bond holdings are now in New Zealand and Australia, where we believe there is the
possibility of further interest-rate cuts.
Paul Flood, Jon Bell, 30/06/2016
The views, opinions and forecasts expressed in this document are those of the fund management house. Investment markets and conditions can
change rapidly and as such the views expressed should not be taken as statements of fact, nor should reliance be placed on these views when making
investment decisions.
Scottish Widows Limited. Registered in England and Wales No. 3196171. Registered Office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial
Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 181655.
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