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Investment Times

A managed mix

| 30 November 2018 | A A A
A managed mix

No recommendation

No news or research item is a personal recommendation to deal. All investments can fall as well as rise in value so you could get back less than you invest.

HL Multi-Manager Special Situations Trust

  • A global fund run by our in-house experts for over 17 years
  • Combines our favourite managers with different investment styles
  • It’s actively managed and rebalanced – we do the hard work for you

‘Past performance isn’t a guide to the future’. It’s a phrase you’re probably used to seeing in the investing world.

And it’s true. Areas that have performed well lately probably won’t be in vogue forever.

Over the past couple of years, high quality companies that make plenty of cash have been the place to be. Companies recovering from short-term issues have mostly been ignored. These trends could reverse tomorrow, or they could carry on for a few more years.

The truth is that trends are really hard to predict. So we think you’re better off building a diversified portfolio invested across lots of different countries and industries, and with managers who have mastered different styles of investing. That way, a part of your portfolio will always be invested in the best-performing areas. You’ll also be invested in companies that are out-of-favour for the moment, but with the potential to come back into fashion. All investments fall as well as rise in value, so you could get back less than you invest.

Portfolios take time to build and need to be rebalanced. If you prefer to leave it to an expert manager, you could think about investing in a multi-manager fund.

Our solution

The HL Multi-Manager Special Situations Trust, run by our sister company HL Fund Managers Ltd., brings together some of our favourite fund managers investing across the globe. Managers Lee Gardhouse and Roger Clark think carefully about each manager’s strengths and investment style, making sure the portfolio comprises a range of different approaches.

Some focus on higher-risk areas like smaller companies or emerging markets. Others stick to more established companies, or more developed regions, like the UK, Europe, the US and Japan. Each manager has an outstanding track-record of finding excellent companies, and avoiding weaker ones, combined with a genuine passion for investing.

The fund’s long-term performance record speaks for itself. An investment of £10,000 made when the fund launched in April 2001 would be worth more than £34,400*. The average fund in the IA Global sector would have returned £24,800, although this isn’t a guide to how the fund will perform in future.

HL Multi-Manager Special Situation Trust - performance since launch (%)

Past performance is not a guide to the future. Source: *Lipper IM to 31/10/2018

Annual percentage growth
Oct 2013 -
Oct 2014
Oct 2014 -
Oct 2015
Oct 2015 -
Oct 2016
Oct 2016 -
Oct 2017
Oct 2017 -
Oct 2018
HL Multi-Manager Special Situations Trust 0.6% 11.6% 17.9% 16.6% -3.3%
IA Global 4.3% 6.0% 24.0% 14.0% 1.1%

Past performance is not a guide to the future. Source: Lipper IM to 31/10/2018

A focus on small and medium-sized companies has boosted the fund’s performance over the long run. Lots of investors tend to focus their attention on the giants of the FTSE 100 and some small and medium-sized companies go overlooked and under-researched. That means there’s plenty of opportunities for dedicated fund managers to uncover hidden gems and invest in them at low prices before they get noticed by others.

HL Multi-Manager Funds are more expensive than your average fund. But we think the research that goes into them, and the diversification they give you, mean they’re worth paying a bit more for.

This fund could sit at the core of a broader investment portfolio. We think it’s capable of delivering strong returns for long-term investment, although there are no guarantees.

The underlying funds hold shares in Hargreaves Lansdown plc.

More about HL Multi-Manager Special Situations Trust, including charges and how to invest

View HL Multi-Manager Special Situations Trust key investor information

HL Multi-Manager Special Situations Trust

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The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.