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BlackRock Throgmorton Trust plc

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About this investment trust

Growth
UK
Shares

The Company aims to provide shareholders with long-term capital growth and an attractive total return by investing primarily in UK smaller companies and mid-capitalisation companies traded on the London Stock Exchange.

Why choose it?

Smaller companies tend to be more volatile than larger companies. The Throgmorton Trust uses Contracts for Difference (CFDs) for part of its portfolio to enable it, potentially, to profit from shares that go down, as well as those that go up.

Suited to…

Investors who want smaller companies exposure but are happy to include the use of Contracts for Difference (CFDs) alongside conventional strategies and understand the potential these instruments pose for loss as well as return.

UK small companies. Citywire investment trusts. Kepler Growth Rating Best investment trust gor growth.

FT Adviser Award: As at 12 October 2018.
Citywire Award: As at 14 November 2018.
Kepler Rating: As at 30 January 2019.
AJ Bell Online Personal Wealth Awards: As at 11 March 2019.
Awards/Ratings have not been superseded to date.


Past performance is not a reliable indicator of future results and should not be the sole factor of consideration when selecting a product or strategy.

What are the risks?

  • Capital is at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.
  • Net Asset Value (NAV) performance is not the same as share price performance, and shareholders may realise returns that are lower or higher than NAV performance.
  • The Trust’s investments may have low liquidity which often causes the value of these investments to be less predictable. In extreme cases, the Trust may not be able to realise the investment at the latest market price or at a price considered fair.
  • Investment strategies, such as borrowing, used by the Trust can result in even larger losses suffered when the value of the underlying investments fall.
  • The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives or other instruments, may expose the Fund to financial loss.
  • Derivatives may be used substantially for complex investment strategies. These include the creation of short positions where the Investment Manager artificially sells an investment it does not physically own.
  • Derivatives can also be used to generate exposure to investments greater than the net asset value of the fund / investment trust. Investment Managers refer to this practice as obtaining market leverage or gearing. As a result, a small positive or negative movement in stockmarkets will have a larger impact on the value of these derivatives than owning the physical investments. The use of derivatives in this manner may have the effect of increasing the overall risk profile of the Funds.

Useful documents

To find out the latest information on the BlackRock Throgmorton Trust click on the links below.

x Latest research report from Kepler.

Please be aware by clicking on this link you are leaving BlackRock and entering a third party’s website. As such, BlackRock is not liable for its content.
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Performance & holdings snapshot

**With effect from 22 March 2018 the Numis Smaller Companies plus AIM (excluding Investment Companies) Index replaced the Numis Smaller Companies excluding AIM (excluding Investment Companies) Index as the Company’s benchmark. From 1 December 2013 to 21 March 2018, the Company’s benchmark was the Numis Smaller Companies excluding AIM (excluding Investment Companies) Index. The data above is a composite of the performance of the two indices.”

Price Chart:
The BlackRock Throgmorton Trust plc. Ordinary share price and cum fair Net Asset Value (NAV). Pence Sterling. Source Morningstar, updated daily for period selected. Time period can either be selected from options available, or on chart underneath (line is for illustration purposes only and does not reflect actual value). Price chart does not include ongoing charges, transaction fees or other expenses.

Net Asset Value (NAV) performance statistics are based on an NAV with income included with any income reinvested on the ex-dividend date, net of ongoing charges and any applicable performance fee.

Share price performance figures are calculated on a mid market basis in sterling terms with income reinvested on the ex-dividend date.

Net Asset Value (NAV) performance is not the same as share price performance, and shareholders may realise returns that are lower or higher than NAV performance.

Price/Trading Table:
The BlackRock Throgmorton Trust plc. Pound Sterling, Source Morningstar, updated every second day, excluding non-trading days.

Annual Performance:
The BlackRock Throgmorton Trust plc, benchmark (Numis Smaller Companies plus AIM (Ex Investment Companies) Index) and Morningstar Investment Trust UK Smaller Companies Category. Pound Sterling. Source Morningstar, as at last quarter end.

Last Reported Holdings
The BlackRock Throgmorton Trust plc. Source Morningstar, as at month end. The specific companies identified and described above do not represent all of the companies purchased or sold, and no assumptions should be made that the companies identified and discussed were or will be profitable. Allocations are as of the date shown and do not necessarily represent current or future portfolio holdings.

Capital is at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed. The figures shown relate to past performance. Past performance is not a reliable indicator of future results and should not be the sole factor of consideration when selecting a product or strategy.

Fund Manager Commentary

Portfolio manager biography

Dan Whitestone, Director and portfolio manager, is the head of the UK Small/Mid-Cap Team in the Fundamental Equity division of BlackRock's Active Equities Group with a research emphasis on the consumer industry. Dan is the Portfolio Manager of BlackRock's Throgmorton Investment Trust, the BlackRock UK Emerging Companies Hedge Fund, and the BSF UK Emerging Companies Absolute Return Fund. He is also responsible for researching the consumer sector.

Dan's service with the firm dates back to 2013. Prior to joining BlackRock, Dan worked for UBS, where he was the head of the UK small and mid-cap sales desk and ranked the number one salesperson in the Extel Small/Mid-Cap sales ratings in 2011 and 2012. Prior to working at UBS, Dan joined Noble and Co in 2006 as a UK small and mid-cap salesman. He began his career at Accenture, in 2003 as a strategy consultant.

Dan earned a BA Hons degree in Combined Studies from the University of Newcastle-Upon-Tyne.

Useful Information

  1. Board of Directors
  2. Fees & charges
    Annual Expenses as at Date
    30/11/2018
    Ongoing Charge (including any Performance Fee)
    1.3% as at 30/11/2018
    Management Fee Summary
    Management fee of 0.35% of the gross assets value of the Company’s long only portfolio plus the gross economic exposure of the total long and short portfolio. The fee structure includes a performance fee of 15% of the NAV (total return) outpeformance against the Numis Smaller Companies plus AIM (excluding Investment Companies) Index, measured over a two year rolling basis and applied on average gross assets over two years. A cap on total management fees of 1.25% of average gross assets over a two year period will also apply.
  3. Fund codes
  4. Fund management
  5. Key dates
  6. Key documents

To get in touch contact us on:

Telephone:
0207 743 3000