Top Twenty Holdings
Sector Allocation
Geographical Allocation

TOP TWENTY HOLDINGS (%)

AVI Global Trust 6.8
Caledonia 6.2
ICG Enterprise 4.8
Blackrock World Mining 4.4
Aberdeen Standard Asia Focus 4.3
JOHCM UK Equity Income Fund 4.2
Merian Gold & Silver Fund 3.9
Schroder Global Recovery Fund 3.6
Aberforth Smaller Companies Trust 3.4
AVI Japan Opportunity Trust 3.4
TR European Growth Trust 3.1
Man GLG Undervalued Assets Fund 3.0
TB Amati UK Smaller Companies 3.0
LF Ruffer Equity & General Fund 3.0
Ecofin Global Utilities and Infra. Trust 2.7
Baker Steel Resources Trust 2.6
Henderson UK Absolute Return Fund 2.5
Templeton Emerging Markets Investment Trust 2.5
Henderson EuroTrust 2.5
Miton Gbl Infrastructure Income Fund 2.1
Total

SECTOR ALLOCATION (%)

Equities

International 19.3
UK Small-Cap 8.4
Asia 7.0
Europe 5.6
UK Growth 4.5
Emerging Markets 4.2
UK Income 4.2
Japan 3.4

Specialist

Defensive 15.4
Private Equity 9.1
Mining And Resources 7.0
Utilities 4.7
Technology 2.1
Biotechnology 1.7

Property

Commercial Property 1.0
Cash & Income 2.5

GEOGRAPHICAL ALLOCATION (%)

International 52.0
United Kingdom 23.0
Asia Pacific ex Japan 7.0
Europe ex UK 6.0
Emerging Markets 4.0
Japan 3.0
Europe 1.0
America 1.0
Cash 2.5

Data as at 30 Sep 2019.