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Pyrford Global Total Return Class C - Income (GBP)

Sell:1,015.00p Buy:1,015.00p Change: 1.00p (0.10%)
Prices as at 21 November 2024
Sell:1,015.00p
Buy:1,015.00p
Change: 1.00p (0.10%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
Prices as at 21 November 2024
Sell:1,015.00p
Buy:1,015.00p
Change: 1.00p (0.10%)
Prices as at 21 November 2024
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund is on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. However, this is not a recommendation to buy.

This fund aims to deliver a return ahead of inflation over the long term. While it won't shoot the lights out, the managers try to grow investors' wealth modestly over the long run, without all the significant ups and downs of investing fully in the stock market. We believe this makes it a great option for a more conservative portfolio, or a way to bring some stability to a broader investment portfolio. Like all investments it will still rise and fall in value, so investors could get back less than they invest.

The team behind the fund is made up of a number of highly experienced investors, including Tony Cousins who leads the team. Cousins is also Chief Executive Officer and Chief Investment Officer of Pyrford. This increases his responsibilities, but we are comfortable he spends most of his time on fund management and that he receives vital support from the rest of the team. We also feel the team are on the front foot and prepared to change the asset mix depending on prevailing market conditions. We like their long-term, disciplined investment philosophy, which has been in place for many years.

Our view on the sector

Total Return funds try to grow investors' money over the medium-to-long-term by making money when markets are rising, and sheltering it when they fall. Most invest in a combination of assets from shares and bonds to cash, commodities and currencies. They're not guaranteed to make money though. Like any investment they will fall as well as rise in value. The return is determined by the manager's skill and each fund will have a different investment process. That's why we think each fund should be judged on its own merits.

Performance Analysis

The team has been successful in delivering modest long-term growth, with much lower levels of volatility than the broader global stock market. And they've done well at limiting losses in times markets have fallen. Since investing using this approach in 1994, they've only lost money in two calendar years - 2002 and 2018. This is an impressive achievement, though it's a reminder that even conservative funds can lose money and past performance isn't a guide to the future.

Investment Philosophy

Cousins and the team at Pyrford have three key aims. Their first is not to lose money over a 12-month period. Their second aim is to deliver an inflation-beating return over the long term, and thirdly, to do this with low volatility - fewer significant ups and downs in value than a fund invested entirely in shares.

Process and Portfolio Construction

The team invests flexibly in different assets. They aim to keep things simple though, so they typically focus on three main assets - shares, government bonds and cash. The shares are expected to perform well and generate most of the fund's growth over the long term, but they can be quite volatile in the short term. They can invest in companies across the globe, with the flexibility to invest in emerging markets, which increases risk if used. The bonds and cash are expected to perform differently, and bring some stability to the portfolio. Like all investments, the fund can fall as well as rise in value so investors could still get back less than they invest.

When the team is more cautious in their outlook, they invest more in bonds and cash, and when their outlook is positive they invest more in shares. They also invest more in shares when stock markets have fallen and they can buy shares at lower prices, which have the potential to rebound.

Please note as this is an offshore fund you are not usually entitled to compensation through the UK Financial Services Compensation Scheme.

question mark Manager Track Record Based on HL Quantitative Research

  • Pyrford Global Total Return...
  • UK Retail Price Index
FROM: TO:


Source: Refinitiv Lipper

Fund Track Record

20/11/19 to 20/11/20 20/11/20 to 20/11/21 20/11/21 to 20/11/22 20/11/22 to 20/11/23 20/11/23 to 20/11/24
Annual return 2.67% 3.64% 2.37% 1.66% 6.60%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Fund Management Group Comment

Pyrford International was established in 1987 and previously owned by the Bank of Montreal. Pyrford is now part of Columbia Threadneedle Investments, the global asset management business of Ameriprise Financial Inc, following an acquisition completed on 08 November 2021. The group's expertise was first made available to retail investors in the UK via the launch of the Pyrford Global Total Return Fund in November 2015. They continue to operate as a fully independent boutique.

Information about the fund

Fund manager biography

Manager Name: Pyrford Team
Manager start date: 21 January 2009
Manager located in: London

Pyrford employs 35 people of which 13 are investment professionals. All are operating out of our London base. The investment team consist of highly experienced investors - 4 of the 5 most senior investment professionals have been working together at the firm for more than 18 years. The average tenure across the investment team is over 11 years. The Portfolio Management team operates under the direction of Tony Cousins, Chief Executive Officer and Chief Investment Officer. The team is regionalised into Asia Pacific, Americas and Europe. Portfolio Managers and Analysts have specific country responsibilities within the regions.

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now