Fact sheet: TM Cerno Select

Fund information
Fund name
TM Cerno Select C Acc
Fund manager company
Thesis Unit Trust Mgmt Ltd
Fund type
OEIC
Fund managers
  • James Spencesince 03/09/2013
Fund objective
TM Cerno Select is a multi-asset class fund under the UCITS regime. The portfolio will invest globally, based on the manager's assessment of the best risk-adjusted returns. The manager is able to make flexible allocations to different asset classes using an unconstrained investment toolbox. In terms of investment instruments, the manager will make allocations to specialist strategies via managers, individual securities, investment trusts and tracker instruments such as ETFs. The investment objective is total return with a distinct aversion to capital loss.
Benchmark
  • No Specified Index
Investment style
Total Return,Flexible
Investment method
None
Quick stats
1 Year return
5%
1 Year rank in sector
192/223
Sector
UT Flexible Investment
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.4%
Fund size
£59m (£46m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
45
Mid price
1208
Top in this sector
Fund name1 Year
M&G Managed Growth31.6%
CF IM Global Strategy25.2%
Margetts Venture Strategy23.7%
Invesco Perp Managed Growth23.3%
Architas Birthstar TD 2036 4023.2%
...more in UT Flexible Investment

Performance snapshot

Holdings snapshot

  • International37%
    Japan21.5%
    Asia Pacific ex Japan20.2%
    Money Market12.1%
    UK7.3%
  • No data available.
  • International Equities53.3%
    Global Government Fixed Interest27.8%
    Money Market12.1%
    Commodity & Energy6.6%
    Alternative Investment Strategies0.2%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1.6%-1.3%5%5%16.7%-
Sector-0.2%0.7%8.7%10.1%19.4%45.9%
Rank within sector214 / 252221 / 246211 / 246192 / 223144 / 186-
Quartile4th4th4th4th4th
Calendar performance
 YTD - 20162015201420132012
Fund5%3.2%5.7%--
Sector9.9%2%4.9%14.1%9.7%
Rank within sector202 / 23275 / 20989 / 188--
Quartile4th2nd2nd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
0.16
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.76
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.19
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
6.79
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
3.82
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-0.33
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.75
Price movement
52 week high1251
52 week low1084
Current bid price-
Current offer price-
Current mid price1208
Region
1International37.01%
2Japan21.54%
3Asia Pacific ex Japan20.22%
4Money Market12.1%
5UK7.3%
6Europe ex UK2.2%
7Europe & Middle East1.49%
8Latin America0.18%
9USA-2.02%
Industry sector
No data available.
Asset type
1International Equities53.3%
2Global Government Fixed Interest27.8%
3Money Market12.1%
4Commodity & Energy6.6%
5Alternative Investment Strategies0.2%
Individual holdings
1ISHARES US TREASURY 20YR+27.8%
2GLOBAL LEADERS16.9%
3OCEAN DIAL GATEWAY TO INDIA8.7%
4GOODHART PARTNERS HORIZON FUND MICHINORI JAPAN EQUITY A GBP INC HDG5%
5CF ODEY ABSOLUTE RETURN INST GBP4.2%
6BAILLIE GIFFORD GLOBAL DISCOVERY B ACC4%
7SHORT S&P 5004%
8MAGA SMALLER COMPANIES UCITS FUND EUR3.8%
9ISHARES PHYSICAL GOLD3.5%
Management
Fund manager group
Thesis Unit Trust Mgmt
Fund manager company
Thesis Unit Trust Mgmt Ltd
Fund type
OEIC
Fund objective
TM Cerno Select is a multi-asset class fund under the UCITS regime. The portfolio will invest globally, based on the manager's assessment of the best risk-adjusted returns. The manager is able to make flexible allocations to different asset classes using an unconstrained investment toolbox. In terms of investment instruments, the manager will make allocations to specialist strategies via managers, individual securities, investment trusts and tracker instruments such as ETFs. The investment objective is total return with a distinct aversion to capital loss.
Benchmark
  • No Specified Index
Investment style
Total Return,Flexible
Investment method
None
Fund managers
NameSinceBiography
James Spence03/09/2013James 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.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
TM Cerno Select B Acc
Initial charge5%
Annual charge1%
Min single investment£5,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.65%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1200
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJMCI
TM Cerno Select B Inc
Initial charge5%
Annual charge1%
Min single investment£5,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.65%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1200
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJMCH
TM Cerno Select C Acc
Initial charge5%
Annual charge0.75%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.4%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1208
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJMCK
TM Cerno Select C Inc
Initial charge5%
Annual charge0.75%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.4%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1207
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJMCJ
Data provided by

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