Aim of Portfolio:

 AimBenchmarkTime frameRisk / volatilityExclusionsCapital at risk
Income Positive Impact PortfolioTo deliver a yield of 2.5%+ p.a., with an element of growth. It can hold up to 20% in non-yielding strategies.AFI Balance Index10-years plusThis is aimed at those clients seeking an exclusionary strategy with income and some growth.
It is seen as balanced, achieving income and growth; it must take slightly more risk and has a higher exposure to investment trusts (traded investment companies).
It currently invests in eight investment trusts.
It holds 20% in fixed-income assets, 32% in alternatives and the balance in UK and international equities. 

For more information click here

Portfolio Review:

The Big PictureOctober 2023
Market OverviewOctober 2023
Portfolio UpdateOctober 2023
FE Analytics – LWM Income Positive Impact PortfolioOctober 2023
Quarterly Portfolio UpdateJuly 2023
Quarterly Market UpdateJuly 2023
FE Analytics OverviewJuly 2023
Quarterly Portfolio UpdateApril 2023
Quarterly Market UpdateApril 2023
FE Analytics OverviewApril 2023

Making a difference

We use analysis from BlackRock for the portfolio. The latest data is shown below based on the holdings as at 1 July 2023.


The Portfolio was launched on 1 July 2022. The chart shows the total return up to 30 September 2023.

 Total Return Since Launch
Income Positive Impact Portfolio-5.00%

You should note that past performance is not a reliable indicator of future returns and the value of your investments can fall as well as rise. The total return reflects performance without sales charges or the effects of taxation, but is adjusted to reflect all on-going fund expenses and assumes reinvestment of dividends and capital gains. If adjusted for sales charges and the effects of taxation, the performance quoted would be reduced.

Split by funds within the Portfolio (as at 1 July 2023):

Fund NamePercentage Holding
Fixed Interest20.00%
Liontrust Sustainable Future Monthly Income Bond Fund10.00%KIID
Rathbone Ethical Bond Fund10.00%KIID
VT Gravis Clean Energy Income Fund5.00%KIID
Ecofin Global Utilities and Infrastructure Trust4.00%Documents
Greencoat UK Wind PLC5.00%Documents
Impact Healthcare REIT4.00%Documents
Renewables Infrastructure5.00%Documents
JLEN Environmental Assets Group Limited5.00%Documents
Premier Miton Global Renewables Trust4.00%Documents
Janus Henderson UK Responsible Income Fund4.00%KIID
Trojan Ethical Income Fund4.00%KIID
Unicorn UK Ethical Income Fund4.00%KIID
BlackRock Sustainabe American Income Trust6.00%Documents
Impax Enviromental Markets5.00%Documents
Ninety One Global Enviromental Fund4.00%KIID
Sarasin Responsible Global Equity Fund4.00%KIID
BNY Sustainable Global Equity Income Fund6.00%KIID
Premier Miton Sustainable Optimum Income Fund6.00%KIID
Emerging Markets5.00%
Carmignac Emerging Markets Fund5.00%KIID

Important notes

What is the difference between the aim of the strategy and benchmark?

The target or aim is to deliver a yield of 2.5%+ p.a., with an element of growth, over ten years.

Do we guarantee a yield of 2.5% p.a. over a ten-year period?

This is our stated aim. We do not guarantee this.

Why do we have a benchmark?

These are slightly different to other portfolios in that we target a yield rather than a return. However, we use the AFI Balanced Index as a comparison. This comprises the recommended portfolios of a panel of UK financial advisers. The portfolios were launched on 1 July 2022.

The first table shows the current yield vs the target yield. The second table is the total return performance over 1-year and since launch.

Income Portfolio4.92%
Positive Impact Income Portfolio4.49%
 1-yearSince launch (p.a.)
Income Portfolio2.75%0.63%
Positive Impact Income Portfolio-1.79%-4.02%

How do we measure performance?

Portfolio Level

We have several touchpoints when monitoring performance:

  1. We monitor performance monthly.
  2. We have an internal monthly investment risk matrix. Within this, we monitor the target return and compare the performance to a range of discretionary managed portfolios.
  3. We update the website quarterly with performance data and provide updates.
  4. From September to February, we conduct a comprehensive review of the portfolios and rebalance on 1 July each year (subject to your approval).

The primary focus of this work is to understand periods of underperformance and adjust where we see appropriate.


The performance data includes the fund charges but not the platform and LWM fees. Fees are fully disclosed. Below are the fund fees as of 30 September 2023 provided by Trustnet.

 Fund fees
Cautious Portfolio0.74%
Balanced Portfolio0.80%
Moderately Adventurous Portfolio0.89%
Adventurous Portfolio0.90%
Cautious Positive Impact Portfolio0.94%
Balanced Positive Impact Portfolio0.91%
Adventurous Positive Impact Portfolio0.91%
Income Portfolio0.99%
Positive Impact Income Portfolio1.06%

We review our charges within the Consumer Duty Fair Value Assessment. We also disclose under transparency on the website.


You should note that past performance is not a reliable indicator of future returns and the value of your investments can fall as well as rise. LWM only invests in UK based investments although some funds / assets may have overseas holdings, the performance of funds / assets where some holdings are denominated in foreign currencies will also be subject to variations in currency rates.


These factsheets are provided by third parties for information. LWM is not responsible for these factsheets, has not reviewed them, and accepts no liability in connection with your use of them or any of their content. These factsheets display the fund manager’s standard retail charges and please note that product charges and fees may replace the charges displayed.