If you're looking for a top-performing investment trust, you could do worse than the Edinburgh Worldwide Investment Trust (EWI). The Baillie Gifford-run trustis "one of thebest performing Global sector investment trusts", says Leonora Walters in the Investors Chronicle, and has significantly outperformed its benchmark, the MSCI All Countries World Index.
Over five years it delivered a 221% return nearly twice its benchmark's. It returned 61.6% over three years and 36.4% over one year.
But the question is whether the trust's new manager, Douglas Brodie, who replaced Mark Urquhart, can keep this up, given Baillie Gifford has changed its investment strategy.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Concerns over the lack of difference between EWI's buyand hold approach and that of rival trusts may have led to "a decline in liquidity" of its shares, as well as "greater discount volatility", says the trust's chairman in the annual report.
In the last ten years EWI has traded at more than 10% discount to net asset value, notes Walters.
Fortunately, he has had success with Baillie Gifford's British Smaller Companies Fund and its Global Discovery Fund. The trust's deputy manager,John MacDougall, runs its Shin Nippon fund.
Just under 44% of EWI's holdings are in North America, 34% are in Europe, 22% in UK equities, 6.2% in German ones, and 11.7% are in Asian stocks. The annual charge is 0.99%. The trust would suit investors looking for greater exposure to global smaller companies, and who are comfortable with the risks.
Contact: 0800-917 2112
| Ocado | 3.50% |
| IPSA Group | 3.10% |
| Stratasys Ltd | 3.00% |
| Alnylam Pharmaceuticals | 3.00% |
| TripAdvisor Inc | 2.60% |
| Tesla Motors Inc | 2.60% |
| MarketAxess Holdings | 2.30% |
| Dexcom Inc | 2.20% |
| ASOS | 2.10% |
| Xaar | 2.10% |
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
-
What would the greatest mathematician of the Middle Ages say about gold today?Sponsored Italian mathematician Fibonacci is most famous for a curious sequence of numbers. Continuing his series on technical analysis, Dominic Frisby explains what these numbers are, and what they can tell us about gold’s next move.
-
How moving averages can reveal trades worth betting on – and ones to avoidSponsored Dominic Frisby looks in more depth at how moving averages can help you catch turning points in markets and help you decide which trades are worth pursuing.
-
This chart pattern could be extraordinarily bullish for goldCharts The mother of all patterns is developing in the gold charts, says Dominic Frisby. And if everything plays out well, gold could hit a price that investors could retire on.
-
Believe it or not, this market is a “buy”Charts With the world in the state it’s in and the market so volatile, buying stocks right now might go against all your instincts. But that’s just what you should be doing, says Dominic Frisby. Here, he explains why.
-
Chart of the week: avocados and bitcoin are in syncCharts An amusing new spurious correlation has been spotted between the price of bitcoin and Mexican Hass avocados. In reality, of course, they have nothing to do with each other beyond “superficial price action”.
-
Chart of the week: Kuwait's stockmarket is ready for take-offCharts Kuwait's stockmarket is due to be promoted from “frontier” status to an emerging market by index provider MSCI next June. That should entice almost $10bn of global investors’ cash into the country.
-
Chart of the week: US stocks outrun profitsCharts The US stockmarket has become totally detached from underlying profits of its constituent companies over the past three years.
-
Chart of the week: Dr Copper diagnoses an ailing economyCharts The price of copper has slipped by a fifth this year and is now at a near-two-year low of around $5,600 a tonne.
