Published: April 30, 2025

 

We’re incredibly proud that our flagship Global Equity Active Multi-Manager Fund has achieved first quartile performance over both 3 and 5 years, to the end of March 2025.

The fund, which now manages c. £4bn, has returned 16.6% per annum over 5 years after costs, outperforming its benchmark by 1.8% per annum.

In the same five-year period, just 32% of global equity managers outperformed the benchmark (after fees), with the median manager underperforming by -1.7%.

Since the fund’s launch, it has delivered c.12% per annum, using very basic calculations this would mean delivering c.£150m of value above the benchmark (based on the differential of compound returns on a £2bn initial investment since inception).

Since the fund launched in 2019, active equity markets have been driven by a range of factors including COVID-19, the war in Ukraine and the re-election of Donald Trump. These have resulted in higher levels of volatility, which have provided opportunities for long-term investors. Enthusiasm for AI and tech innovation has been a major theme, along with rising interest in the Health Care sector due to GLP-1 drugs.

This multi-manager fund complements our substantial in-house capability, managing £11.8bn at low cost across both equities and fixed income, in pooled vehicles and segregated mandates (as at 31 March 2025). Our team will continue to work closely with managers as markets evolve, making sure we remain aligned with our Partner Funds’ long-term objectives.

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