Tideway Real Return Fund

The Tideway Real Return Fund is a mixed-asset target absolute return fund. Active risk hedging provides a degree of capital protection and reduces the volatility of returns.

The Fund aims to deliver positive absolute capital growth net of fees on a rolling 12-month basis regardless of market conditions, with low to medium volatility.

The Fund has a target return of 3-month £ Libor plus 3% p.a. net of fees on a rolling three year basis. The Fund invests primarily in debt and hybrid capital securities (typically 60%-80% of the NAV of the Fund), and in equities and equity-related securities (typically 20%- 40% of the NAV of the Fund).

Fund Objectives

  • Target net return of 3% p.a. on a rolling 3-year basis and a positive return on a rolling 1 year basis
  • Low to Medium Volatility - SRRI Risk Rated 3

Investment Strategy

  • Mixed Assets – Typically 60%-80% Hybrid Capital / 20%-40% Equity
  • Household name portfolio from UK, EU and US
  • Multi-currency Assets - GBP EUR USD (FX risk hedged out)
  • 30 % Limit on Contingent Convertible Securities (CoCo’s)
  • Up to 100% of bonds may be Sub-Investment Grade

Document Library

Note: it is important that before you invest, you should read the relevant Prospectus and KIID documents. These documents and the latest factsheet can be found in our Document Library.

Top 10 Holdings

These are the Fund's top 10 holdings, as a % of NAV, as at 30-9-2018.

US TIPS 02/46 12.4%
Ballsbridge Repackaging (NAMA Sub, 12/29/49) 5.9%
Rothesay Life (6.875, Perp) 5.1%
CYBG (8, Perp) 4.5%
Pension Insurance Corp (8, 11/23/26) 4.3%
Nationwide (10.25, 29/07/2049) 4.3%
Direct Line Group (4.75, Perp) 4.2%
Metro Bank (5 1/2, 06/26/2028) 3.3%
Scottish Widows (7, 16/06/43) 3.1%
Lloyds (13, Perp) 3.0%

 

Top Bond Holdings

These are the Fund's top bond holdings, as a % of NAV, as at 30-9-2018.

US TIPS 02/46 12.4%
Ballsbridge Repack. 5.9%
Rothesay Life 5.1%
CYBG 4.5%
Nationwide 4.3%

 

Top Equity Holdings

These are the Fund's top equity holdings, as at 30-8-2018.

Total 2.6%
Novo Nordisk 2.5%
Ryanair 2.6%
Aviva 2.5%
Citigroup 1.6%

 

Tideway Investment Partners LLP
is authorised and regulated by the
Financial Conduct Authority.
FCA number 496214.

Contact
Tideway Investment Partners LLP
Thomas House
84 Eccleston Square
London SW1V 1PX
+44 (0)20 3143 6100
info@tidewayinvestment.co.uk