The VT Castlebay UK Equity fund is an Open Ended Investment Company (OEIC).  The company invests, for the long term, in the equity of UK companies.  It can also invest a maximum of 20% in other assets such as cash, fixed interest securities or overseas equities.

Our Aim:

The managers, as fellow shareholders in the fund, seek to make a return in excess of inflation, delivering long term capital and income growth for shareholders.  We aim to achieve this by investing in:

• Companies with a valuation Margin of Safety, trading at a discount to their own history.
• Companies with an operational Margin of Safety, whose business models create a Moat, protecting their operational returns from competitors.
• Companies that generate strong cash flows - to pay us the investor whilst we wait.
• Companies whose intrinsic value increases daily so that even if the market votes against them in the short term, they continue to grow in value.
• Companies whose returns on the capital they employ are well in excess of the costs of that capital.
• Companies whose returns are mainly driven from returns on sales and assets and not leverage.

Adherence to our criteria means there is a restricted universe from which to invest and the number of companies in our fund will be between 20-30.  This is a sufficient number to provide adequate diversification whilst ensuring that only our best ideas are invested in the fund.

We invest in companies for the long term and do not speculate on short term price movements.  This normally results in low turnover which also reduces the cost of managing the fund.

Share class costs:

The managers have capped the cost of each share class and include all fund costs except stamp duty and broker commission.

   'A Share Class' 1% capped management fee minimum investment £10,000
      Income GB00BV0LF599   Accumulation GB00BV0LF60

   'B Share Class' 0.8% capped management fee minimum investment £2,000,000
      Income GB00BV0LF714   Accumulation GB00BV0LF821

   'C Share Class' 0.6% capped management fee minimum investment £20,000,000
      Income GB00BV0LF938   Accumulation GB00BV0LFB59

Current factsheet

Quarterly investor letter

Prospectus

Application Form

Financial Statements

Assessment of value statements are published annually for this fund - These reports are useful to give an overview of how the Fund has performed in comparison to industry comparators.

TCFD Reports

The latest net asset value per share is as follows:

Past performance is not necessarily an indication of future results

Questions and Queries

For frequently asked questions or further information about your holdings or this fund please:

Email the Fund Team castlebay@valu-trac.com or call us on: 01343 880 344 and quote the fund name.