The Share Centre - Fund fact sheet

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TM Cerno Select C Acc

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Fund objective

The objective of the Fund is to achieve long term total return over a five year period. The Fund aims to achieve a positive return, however, there is no guarantee that a positive return will be achieved over that, or any, time period. Investors should note that, notwithstanding that the objective is to achieve long term total return, capital is in fact at risk. The assets in which the Fund may invest will be equities, fixed income investments, eligible alternatives and other transferable securities, money market instruments, deposits, cash and near cash investments and derivatives. Exposure to these asset classes may be gained through direct investment or indirectly through collective investment schemes, exchange traded funds and investment trusts. At times the Fund may hold a significant amount in cash. Derivatives may be used for both investment purposes and Efficient Portfolio Management

Before you invest
Please make sure you read, and keep a copy of the Key Investor Information Document for this fund. If you do not understand any point please contact our Customer Service team on 01296 41 41 41.

Cumulative Performance to 13/12/17

(Total percentage return with the net income (dividends) reinvested)

- TM Cerno Select C Acc

- IA Unclassified

Discrete Annual Performance to 30/09/17

Percentage performance figures in 5 discrete (distinctly separate) consecutive one year periods
0-12m % 12-24m % 24-36m % 36-48m % 48-60m %
TM Cerno Select C Acc 4.63 12.72 2.05 5.10 n/a
IA Unclassified 7.57 14.51 0.54 5.09 10.88

Top holdings


Gateway To India C 7.62%
Goodhart Partners Horizon Fund Michinori Japan Equity Gbp Inc 5.68%
Ishares Physical Gold Etc Usd 4.96%
Baillie Gifford Global Discovery B Acc 4.72%
Ishares Iii Plc Core Msci Japan Imi Etf $ Acc Usd 4.54%
Baillie Gifford Edinburgh Worldwide It Plc 3.93%
United States Of Amer Treas Notes 0.125% Bds 15/01/22 Usd100 3.71%
United States Of Amer Treas Notes 0% Nts 15/01/23 Usd1000 3.70%
United States Of Amer Treas Notes 0.625% Nts 15/01/24 Usd1000 3.66%
United States Of Amer Treas Bonds 2% Bds 15/01/26 Usd1000 3.55%



International Equities 62.70%
Global Government Fixed Interest 14.60%
Money Market 10.70%
Commodity & Energy 5.00%
Alternative Investment Strategies 0.20%

Basic fund information

Currency Sterling
IMA Sector IA Unclassified
Bid price (p) n/a
Mid price (p) 1319.00
Offer price (p) n/a
ISA eligible? Y
Fund launch date 04/09/13
Fund size (£m) 72.80
OCF as at 14/09/2017 1.21%
AMC % 0.75
Yield % 0.00
Dividend Date Dec, Jun



Alpha -0.45
Beta 0.91
Sharpe 0.37
RSquared 0.72
Information -0.33
Volatility 6.25

Quartile rankings

1 year n/a
3 year n/a
5 year n/a

Manager biography - James Spence 04/09/2013

James is a co-founder of Cerno Capital and lead manages a number of the firm's collective and private portfolios. After qualifying as a chartered accountant in London (Coopers & Lybrand, 1989) he relocated to Asia. Between 1991 and 2004 he worked as an equity analyst, head of research, and latterly as an equity strategist at WI Carr, Paribas, HSBC and UBS, based variously in Hong Kong, Singapore and Jakarta. James graduated from the University of St Andrews, Scotland with an MA in Philosophy & Logic in 1986. James is a Member of the Chartered Institute for Securities & Investment.

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Performance data correct as at 13/12/17

To find out more about how we arrive at our views on investments and risk, please read our investment research policy

Price total return performance figures are calculated on a bid price to bid price basis (mid to mid for OEICs) with the net income (dividends) reinvested. Performance figures are shown in Sterling unless otherwise specified.

Source: Financial Express