| Asset Group | Asset Sub-Group | Investment Category |
| Equities | UK equity income | Core |
Selection rationale: Cholwill favours a concentrated portfolio of 40 and 60 stocks, which means each of his ideas contributes meaningfully to performance. He can invest in companies of any size but tends to have a bias towards medium-sized ones, albeit his top 10 holdings are centered on some big FTSE 100 dividend stocks to keep the income up. The fund invests across a broad spectrum of industries where Cholwill sees value, in particular focusing on companies with attractive cashflow characteristics that are able to support a growing and sustainable dividend. As he points out, it is cashflow that pays the dividend, funds investment for future growth and helps provide resilience in a range of market conditions. Macroeconomic factors are considered when assessing company prospects. The fund is underpinned by cautious economic growth assumptions, and its focus on strong market positions, cashflow-backed dividends and robust balance sheets should deliver durability in a range of possible economic outcomes. But Cholwill says it is stock selection based on thorough company research, including meeting management teams, that is the main driver of his performance. The fund pays income quarterly and currently has a yield of just under 5%. Please note: As a result of recent extreme economic conditions, many companies have temporarily stopped paying dividends or have significantly reduced the amount they are paying out. This means the income that is likely to be achieved by funds and trusts in the near future may be far less than the historic yield quoted in the portfolios. September 2020 | ||
Risk warnings
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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