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2017 Performance Summary
[/fusion_title][fusion_text]Performance summaries for the main investment strategies, all numbers after fees. Note past performance is not a guide to future performance.
[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container hundred_percent=”no” hundred_percent_height=”no” hundred_percent_height_scroll=”no” hundred_percent_height_center_content=”yes” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”#f7f6f2″ background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”30″ padding_right=”40″ padding_bottom=”” padding_left=”40″][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”1_1″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” dimension_margin=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_title margin_top=”” margin_bottom=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” size=”1″ content_align=”left” style_type=”default” sep_color=””]Global Multi-Asset
[/fusion_title][fusion_text]TM Cerno Select and its sister fund Cerno Unconstrained are global strategies investing across multiple asset classes with an unconstrained approach to asset allocation.
The return target is UK CPI +3% by investing in an approved range of investment vehicles, including direct securities, passive funds and specialist active managers.
[/fusion_text][fusion_table]| Fund/Strategy | 2017 | 3 Year | Inception** | Annualised since inception** |
| TM Cerno Select | +8.0% | +18.9% | +62.2% | 4.9% |
| CPI +3%* | +5.7% | +14.1% | +71.5% | 5.5% |
*Dec-17 CPI calculated using 3.0% YoY forecast**Strategy inception October 2007: EF Global prior to September 2013, TM Cerno Select thereafter
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[/fusion_title][fusion_text]The Global Leaders Equity Strategy invests in global companies with sustainable competitive advantages delivering above average returns. Its target is to deliver performance above that of the MSCI World Total Return (GBP) Index on a 3-year rolling basis.
The fund will hold 25-30 securities, equally weighted, selected according to a distinct investment thesis that accents industry structure, the sustenance of return on capital and secular growth.
[/fusion_text][fusion_table]| Fund/Strategy | 2017 | 3 Year | Inception** | Annualised since inception** |
| Global Leaders Equity Strategy | +23.4% | +58.3% | +73.4% | 18.4% |
| MSCI World TR GBP | +11.8% | +50.4% | +54.8% | 14.8% |
**Strategy inception October 2014.
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[/fusion_title][fusion_text]Predominantly investing in technology, services, automation and distribution and other asset light business models within Asia Pacific and the wider Emerging Markets.[/fusion_text][fusion_table]| Fund/Strategy | 2017 | 3 Year | Inception** | Annualised since inception** |
| Pacific & Emerging Strategy | +20.7% | +35.8% | +98.6% | +8.8% |
| MSCI AC Asia Pacific Index GBP | +20.3% | +56.1% | +122.1% | +10.3% |
**Strategy inception November 2009: EF Pacific & Emerging prior to January 2017, TM Cerno Pacific & Emerging thereafter
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