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Private investors

Mid Wynd International Investment Trust plc

All data as at 31 August 2016 except where specified
  • Summary
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The fund’s aims

Mid Wynd aims to achieve both capital and income growth by investing on a worldwide basis.

Investment policy

In seeking to meet its objective, the portfolio will principally comprise international quoted equities. Investments will be selected for inclusion within the portfolio solely on the basis of the strength of the investment case. The Company is prepared to move freely between different markets, sectors, industries and market capitalisations as investment opportunities dictate.
Mid Wynd is managed by the Artemis Global Select team of fund managers.

Current prices

Share price (ordinary)403.50p
Dividend yield1.1%

Fund manager review

Markets have been quiet over the summer. Fears of an economic slowdown in the UK proved to be exaggerated. Asian markets also saw improving economic growth. The Company’s best-performing investments included Japanese exporters including ASICS (running shoes) and its Chinese holdings. Last year, when many commentators were prophesying doom for Chinese banks, we invested in them. This worked well and their recent results showed a steady and affordable increase in bad debt charges. In addition, a relatively recent addition to our ‘tourism’ theme, Samsonite, announced strong results and made a good contribution to performance.

Last year, when many commentators were prophesying doom for Chinese banks, we invested in them. This worked well …

The Company’s US holdings had a mixed month. As a result of many years of strong-performance, our healthcare investments have grown to become a large part of the portfolio. In the run-up to the US presidential election, candidates are predictably pledging to reduce healthcare costs. While political uncertainty prevails, the whole sector will be under pressure. However, we believe our holdings will actually benefit from any policies designed to control costs.

The Company’s share price is quoted in sterling but the majority of its investments are outside the UK. As a result, when sterling weakened in June the share price rose so when sterling recovered in August it fell slightly. However, we tend to think about our investments in US dollar terms and so the valuation of our holdings has not been affected by the moves in sterling this year. Indeed, the results season has reassured us that the majority of the Company’s investments continue to see healthy growth in cashflows.

14 September 2016

Simon Edelsten: Opportunities in Asia …

Given that political uncertainties abound in most developed markets, Simon Edelsten is looking to opportunities elsewhere.

Value of £100 invested at launch to 31 August 2016

Value of £100 invested at launch to 31 August 2016

Relative performance, value of £100 invested on 1 May 2014, the date Artemis was appointed as investment manager, to 31 August 2016.
Source: Lipper Limited and Artemis, bid to bid in sterling with dividends reinvested. All figures show total returns. Past performance is not a guide to future performance.

Asset allocation

Asset allocation

Without cash. Source: Artemis as at 31 August 2016. Please note figures may not add up to 100% due to rounding.

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Simon Edelsten: Opportunities in Asia …





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Risk warnings

This information does not constitute an offer, invitation or solicitation to deal in the securities of this fund.

The value of any investment, and any income from it, can rise and fall with movements in stockmarkets, currencies and interest rates. These can move irrationally and can be affected unpredictably by diverse factors, including political and economic events. This could mean that you won’t get back the amount you originally invested.

The fund’s past performance should not be considered a guide to future returns.

The fund may invest in emerging markets, which can involve greater risk than investing in developed markets. In particular, more volatility (sharper rises and falls in unit/share prices) can be expected.

The fund may invest in the shares of small and medium-sized companies. Shares in smaller companies carry more risk than larger, more established companies because they are often more volatile and, under some circumstances, harder to sell. In addition, information for reliably determining the value of smaller companies – and the risks that owning them entails – can be harder to come by.

The fund may borrow money to make further investments, an investment approach known as 'gearing'. This can enhance investment returns in rising markets but will reduce returns when markets fall.

Any research and analysis in this communication has been obtained by Artemis for its own use. Although this communication is based on sources of information that Artemis believes to be reliable, no guarantee is given as to its accuracy or completeness.

Any forward-looking statements are based on Artemis’ current expectations and projections and are subject to change without notice.

Issued by Artemis Fund Managers Ltd which is authorised and regulated by the Financial Conduct Authority.

Financial advisers and retail investors

The company currently conducts its affairs so that the shares in issue can be recommended by financial advisers to ordinary retail investors in accordance with the Financial Conduct Authority’s (“FCA’s”) rules in relation to non-mainstream investment products and intends to do so for the foreseeable future. The shares are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are shares in an investment trust.

UK personal investors

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