Momentum Multi-Asset Value Trust is a multi-asset trust offering global exposure to a diversified range of asset classes and sources of return, across traditional assets such as UK and overseas equity, as well as specialist areas, including infrastructure, property, private equity and alternative income.
The trust aims to return consumer-price inflation plus 6% per year over a typical investment cycle with a mix of income and capital growth. It applies a refined value, contrarian approach to stock selection, whereby each portfolio investment presents greater upside than the market anticipates.
Syncona: spotting winners in life sciences
Syncona (LSE: SYNC) is a private-equity trust focused on life-sciences firms, which funds initial ideas with venture capital, funding growth through the clinical-trials phase until their products are released. The team has a good record of success, with three firms maturing and sold in recent years. Blue Earth Diagnostics, Nightstar Therapeutics and Gyroscope were sold for a return of three times (with the potential of up to 5.1 times), 4.5 times and ten times the initial investment, respectively.
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The portfolio consists of eleven companies diversified across a range of therapeutic areas, all at different stages of development. As Syncona-funded products move through clinical trials there will be some winners and some losers, but we feel the management team has demonstrated its ability to develop successful businesses with asymmetric return profiles. Syncona has numerous products with important milestones in clinical trials this year and the shares have sold off from a high of 302p in 2018.
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