Troy Trojan Income Class X - Income

Blake Hutchins is manager of the fund. He joined Troy in 2019 from Investec Asset Management. Hutchins' background and experience makes him well placed to lead on this fund. He's learnt from a number of excellent fund managers over his career to hone his approach to investing in quality companies for income.

The fund has a bias to bias to higher quality companies so we expect it to hold up better than the index in falling markets, and to lose ground in a rising market.

Part or all of the annual charge is taken from capital rather than income generated, increasing the potential for your investment's capital value to be eroded.

Hutchins looks for high quality, resilient companies that can generate sustainable and growing cash flows. The manager believes one of the most important things in investing is to protect the value of investments. Sheltering wealth when the going gets tough means there's less to make back once the good times return.

Blake Hutchins mainly looks for larger businesses he thinks will keep steadily growing for years to come. He wants companies that make enough cash to keep paying and growing dividends over the long term too. He takes into account what's happening in the economy but ultimately it's the strength of the business that's most important.

The manager looks to buy and hold through the market cycle, rather than trade frequently during sharp market rallies or falls.

A lot of the companies he likes are in sectors like consumer goods. He tends to avoid sectors such as mining, technology and construction as he thinks the profits and dividends of companies in these areas are less predictable.

The manager only invests in a handful of companies. That means each one can have a meaningful impact on performance, but it adds risk. He invests mostly in UK companies, but also in a number of overseas businesses to give some international diversification. The fund has the flexibility to invest up to 20% overseas.