Top Twenty Holdings
Asset Allocation
Geographical Allocation

TOP TWENTY HOLDINGS (%)

AVI Global Trust6.7
Caledonia Investments6.0
Merian Gold & Silver Fund4.8
Blackrock World Mining4.7
TR European Growth Trust3.9
JOHCM UK Equity Income Fund3.9
Aberdeen Standard Asia Focus3.9
AVI Japan Opportunity Trust3.5
Schroder Global Recovery Fund3.2
LF Ruffer Equity & General Fund3.1
Herald3.1
Ecofin Global Utilities and Infra. Trust2.9
TB Amati UK Smaller Companies2.9
International Biotech Trust2.9
Baker Steel Resources Trust2.8
Man GLG Undervalued Assets Fund2.6
Henderson EuroTrust2.6
Fidelity Asian Values2.6
Templeton Emerging Markets Inv Trust2.5
Fidelity China Special Situations2.4
Total

ASSET ALLOCATION (%)

Equities61.0
Alternatives33.0
Fixed Interest4.0
Cash2.3

GEOGRAPHICAL ALLOCATION (%)

International48.0
United Kingdom19.0
Asia Pacific ex Japan9.0
Emerging Markets7.0
Europe ex UK6.0
Japan4.0
Europe3.0
America2.0
Cash2.3

Data as at 31 May 2020.