|Asset Group||Asset Sub-Group||Investment Category|
|Equities||UK smaller companies||Smaller company|
Hermon’s main focus is growth stocks at the right price, often described as ‘growth at a reasonable price’ (or Garp) investing. He finds his investments mainly by meeting companies and assessing the managers and their strategy. He looks for ‘the four Ms’: model (a strong business model); management (managers with a good track record); money (strong balance sheets and cash flow); and momentum (good earnings momentum). He runs a well-diversified portfolio of more than 100 holdings and takes a long-term approach, holding stocks for more than five years on average.
Although the trust benefits from merger and acquisition activity, Hermon says he does not buy stocks with that in mind, though he admits it is nice if it happens. He is more focused on buying companies he believes can grow in the future.
Past performance of the underlying constituents is not a guarantee of future performance. The value of investments, and any income from them, can fall as well as rise so you could get back less than you invest.
Annual performance can be found on the factsheet of each fund, trust or ETF. Simply click on the asset’s name and then the performance tab.
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