A trust that can grow even when the economy doesn’t

WHAT DOES IT DO?

Invests in companies across the globe which the trust managers think can grow even when the economy doesn’t. Half of its cash is in US firms, with a further 11pc in Japanese companies and 8pc in China. Its biggest investments include international businesses such as Amazon and Mastercard.

WHAT DOES THE MANAGER INVEST IN?

Manager Simon Edelsten likes bets based on ageing populations and favours anything that attracts the ‘grey pound’. He says: ‘Outdoor leisure, cycling and jogging all see increased participation from the ageing population as well as the growing middle classes in emerging markets.’ Investments include Shimano, a leader in bicycle brakes and gears, sportswear brands Asics and Nike, and VF Corporation, which is behind outdoor brand North Face.

WHAT DO THE EXPERTS THINK?

Laith Khalaf, senior analyst at Hargreaves Lansdown, says: ‘The team have a preference for quality growth companies that have outperformed recently. It’s still early days for the team, who were appointed to run this fund in 2014, but so far they are off to an encouraging start.’

WHAT’S TO LIKE?

The manager finds growing companies whose share prices are still reasonable. It is a strategy that has served them well over the past two years.

AND ARE THERE ANY DOWNSIDES?

Some savers might not like the trust’s exposure to emerging economies as they can be more volatile. While it’s performed well since 2014 – ranked sixth of the 25 Global trusts – some may prefer a trust with a longer track record.