Skip to main content
  • Register
  • Help
  • Contact us
  • Log out of your HL account
A A A

TM Sanditon UK - removal from the Wealth 150

Dominic Rowles | Wed 25 July 2018

Investments can go down as well as up so there is always a danger that you could get back less than you invest. Nothing here is personalised advice, if unsure you should seek advice.

We’ve removed the TM Sanditon UK Fund from the Wealth 150+ of our favourite funds for new investment.

We're disappointed with the fund's performance since launch in June 2015. It's underperformed the UK stock market over this time.

Even the best fund managers go through poor periods. But when this happens we try to understand why. This helps us decide if things can be turned around.

Julie Dean, the fund's manager, uses a business cycle approach to investing. She starts by looking at what's going on in the wider economy and where we are in the business cycle. Then she invests in companies of all sizes, including higher-risk smaller companies, with the potential to outperform in the current climate.

She thinks the economy has been heading for a slowdown for a number of years.

Normally at this point in the cycle, she’d invest in established companies with stable earnings. These companies have the potential to perform well when other businesses perform more poorly.

But she hasn’t invested as much in this type of company. She doesn't think their shares look good value compared with their future growth prospects. We see this as a mistake because many of these companies have gone on to perform well and the fund has missed out.

Our analysis also shows Julie Dean's stock-picking has been weak. This means some of the companies she invests in haven't done as well as others that are a similar size or in the same sector.

She has shown an ability to generate strong returns through good stock picking in the past. But her track record took a turn for the worse when the TM Sanditon UK Fund launched.

Overall we think Julie Dean has executed her investment process poorly during her time at Sanditon. This, combined with the fund's underperformance and her poor stock selection, means we’re no longer confident the fund can outperform in future.

For our current favourites in the UK All Companies sector please see the Wealth 150+ list.

This article is not personal advice. If you are unsure of the suitability of an investment for your circumstances, please seek advice.

Annual percentage growth
June 2013 -
June 2014
June 2014 -
June 2015
June 2015 -
June 2016
June 2016 -
June 2017
June 2017 -
June 2018
TM Sanditon UK n/a* n/a* -5.9% 13.0% 4.5%
FTSE All-Share 13.1% 2.6% 2.2% 18.1% 9.0%

Past performance is not a guide to the future. Source: Lipper IM to 30/06/2018.

n/a* - Full year past performance prior to 2015 is unavailable.

Please read the Key Features/ Key Investor Information in addition to the information above.

Find out more about this fund (inc. charges)

Important information - Please remember the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. This article is provided to help you make your own investment decisions, it is not advice. If you are unsure of the suitability of an investment for your circumstances please seek advice. No news or research item is a personal recommendation to deal.


You may also be interested in: