Top Twenty Holdings
Sector Allocation
Geographical Allocation

TOP TWENTY HOLDINGS (%)

British Empire 6.5
Caledonia 6.2
ICG Enterprise 5.1
Aberdeen Standard Asia Focus 4.4
Blackrock World Mining 4.1
Schroder Global Recovery Fund 3.6
LF Ruffer Equity & General Fund 3.4
JOHCM UK Equity Income Fund 3.3
Woodford Patient Capital Trust 3.1
Aberforth Smaller Companies Trust 2.9
Man GLG Undervalued Assets Fund 2.9
AVI Japan Opportunity Trust 2.8
TR European Growth Trust 2.6
TB Amati UK Smaller Companies 2.6
Miton Gbl Infrastructure Income Fund 2.6
Henderson UK Absolute Return Fund 2.5
Odyssean Investment Trust 2.5
Henderson EuroTrust 2.4
Merian Gold & Silver Fund 2.3
Ecofin Global Utilities and Infra. Trust 2.3
Total

SECTOR ALLOCATION (%)

Equities

International 19.8
UK Small-Cap 8.0
Asia 7.0
Europe 5.0
UK Growth 4.4
UK Income 3.3
Emerging Markets 3.2
Japan 2.8

Specialist

Defensive 16.3
Private Equity 11.3
Mining And Resources 6.3
Utilities 4.9
Technology 1.5
Biotechnology 1.4

Property

Commercial Property 1.0
Cash & Income 3.5

GEOGRAPHICAL ALLOCATION (%)

International 53.3
United Kingdom 23.0
Asia Pacific ex Japan 7.0
Europe ex UK 5.1
Emerging Markets 3.2
Japan 2.9
America 1.1
Europe 1.0
Cash 3.5

Data as at 30 Apr 2019.