Aim of Portfolio:

The Portfolio looks to deliver above inflation return (capital growth) through a combination of fixed interest, equity and property investments.

Portfolio Review:

Quarterly Portfolio UpdateOctober 2020
Quarterly Market UpdateOctober 2020
Morningstar Quarter 3 2020 Portfolio OverviewOctober 2020
Quarterly Portfolio UpdateJuly 2020
Quarterly Market UpdateJuly 2020
Morningstar Quarter 2 2020 Portfolio OverviewJuly 2020
Quarterley Investment Committee Executive SummaryJuly 2020
Quarterly Portfolio UpdateApril 2020
Morningstar Quarter 1 2020 Portfolio OverviewApril 2020
Quarterly Investment Committee Executive SummaryApril 2020
Quarterly Portfolio Update January 2020
Quarterly Market Update January 2020
Morningstar Quarter 4 2019 Portfolio OverviewJanuary 2020

Risk and benchmark performance of Portfolio:

The Portfolio holds a higher content of equities compared to the Cautious Portfolio, but less than the Adventurous Portfolios. Currently the Portfolio holds approximately 26% in assets such as fixed interest and absolute return funds, with the balance in equity funds which can include property. We believe this is the best way to provide potential upside growth as well as providing equal weight between risk and reward.

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Performance:

The Portfolio was launched on the 1 January 2009 and the total return up to 30 September 2020 is 220.34% (10.42% p.a.) against a benchmark return of 115.31% (6.75% p.a.). A detailed breakdown of the performance is shown below.

Standardised Performance

1 Yr to 30/09/161 Yr to 30/09/171 Yr to 30/09/181 Yr to 30/09/191 Yr to 30/09/20
Balanced17.79%15.61%8.57%1.30%4.84%
Benchmark13.13%9.09%4.42%4.66%2.35%

12 Months Total Return (bid to bid) Source: Morningstar, net income reinvested.

201520162017201820192020
Balanced6.17%13.72%18.24%-6.99%18.96%-0.62%
Benchmark1.01%13.31%11.21%-6.17%15.65%-0.31%

Performance from 31 December 2008 to 30 September 2020. Source: Morningstar, on an bid to bid basis with net income reinvested.

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:

Fund NamePercentage Holding
Diversifying Assets36%
Vanguard Global Bond Index Fund4.5%KIID
Nomura Global Dynamic Bond Fund4.5%
KIID
First State Global Property Securities Fund4.5%KIID
TR Property Investment Trust4.5%Documents
3i Infrastructure4.5%Documents
Legg Mason IF Rare Global Infrastructure Income Fund4.5%KIID
AHFM Defined Returns Fund Fund4.5%KIID
First State Diversified Growth Fund4.5%KIID
Equity Exposure
64%
Standard Life UK Smaller Companies Trust3%Documents
AXA Framlington UK Smaller Companies Fund3%KIID
Vanguard FTSE UK All Share Index Fund3%KIID
JOHCM UK Dynamic Fund3%KIID
LF Miton European Opportunities Fund4%KIID
ASI Europe ex UK Equity Fund3%KIID
AXA Framlington American Fund3%
KIID
Artemis US Smaller Companies Fund4%
KIID
L&G US Index Trust5%KIID
Scottish Mortgage Investment Trust PLC4%Documents
Standard Life Global Smaller Companies Fund3%KIID
Baillie Gifford Global Discovery Fund3%KIID
Morgan Stanley Global Brands Fund3%KIID
Polar Capital Technology Trust3%Documents
Morgan Stanley Asia Opportunity Fund3%KIID
Matthews Asia Funds – Asia Ex Japan Dividend Fund2%KIID
Templeton Emerging Markets Investment Trust3%Documents
Hermes Global Emerging Markets Fund2%KIID
ASI China A Share Equity Fund2%KIID
Matthews Asia Funds – China Small Companies Fund2%KIID
JPMorgan Japanese Investment Trust3%Documents

Important notes

Performance

The performance for the Portfolio is based on the previous holdings for the portfolio. Data for performance is sourced from Morningstar. These figures are provided to give an indication of the performance of the Portfolio. The performance figures take into account all fund / asset charges but do not reflect any additional charges, for example the cost of the investment plan and fees paid to LWM. These expenses may reduce the actual figures shown.

As an example of how this will impact on the performance, assuming the total gross cost of the portfolio is 0.66% p.a. (this is reflected in the performance figures shown), then after rebates and reflecting any fees payable to LWM Consultants the actual cost of this portfolio could be 2.06% p.a. (on a fund of £100,000 this would be £2,060 p.a.) This means that the drag on performance is around 1.40% p.a. (on a fund of £100,000 this would be £1,400 p.a.) So in 2017 the return was 16.84%, the net return after rebates and fees would have been 12.36%. This is an indication of costs as the assets and costs will move. The cost of accessing the funds may be higher via other routes and will include additional fees, the estimate is based on the highest charge via a SIPP and for other investments the charge will be lower. Charges may also reduce depending on the size of the assets held.

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.

Factsheets

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.