Top Twenty Holdings
Sector Allocation
Geographical Allocation

TOP TWENTY HOLDINGS (%)

Caledonia 6.4
British Empire 6.3
ICG Enterprise 4.9
Aberdeen Standard Asia Focus 4.8
Blackrock World Mining 4.1
JOHCM UK Equity Income Fund 4.0
LF Ruffer Equity & General Fund 3.8
Schroder Global Recovery Fund 3.5
Aberforth Smaller Companies Trust 3.0
Woodford Patient Capital Trust 2.9
Henderson UK Absolute Return Fund 2.8
Merian Gold & Silver Fund 2.8
Man GLG Undervalued Assets Fund 2.8
Odyssean Investment Trust 2.7
AVI Japan Opportunity Trust 2.6
Miton Gbl Infrastructure Income Fund 2.5
Hansa 2.4
Baker Steel Resources Trust 2.3
TR European Growth Trust 2.2
TwentyFour Abs Return Credit Fund 2.2
Total

SECTOR ALLOCATION (%)

Equities

International 24.2
UK Small-Cap 7.6
Asia 7.1
UK Growth 4.4
Europe 4.2
UK Income 4.0
Emerging Markets 3.2
Japan 2.6

Specialist

Mining And Resources 11.1
Private Equity 11.0
Absolute Return 7.8
Utilities 4.6
Technology 1.2
Biotechnology 1.0

Property

Commercial Property 1.0
Cash & Income 5.0

GEOGRAPHICAL ALLOCATION (%)

International 52.8
United Kingdom 22.9
Asia Pacific ex Japan 7.1
Europe ex UK 4.2
Emerging Markets 3.2
Japan 2.6
Europe 1.0
America 1.0
Cash 5.0

Data as at 28 Feb 2019.