Edison Investment Research - Securities Trust of Scotland PLC (STS) Securities Trust of Scotland - Compounding over time

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Edison Investment Research

Pedro Fonseca

Securities Trust of Scotland - Compounding over time

Securities Trust of Scotland (STS) has been managed by James Harries and Tomasz Boniek of Troy Asset Management (Troy AM) since November 2020, when the board passed this mandate to Troy AM. The fund is structured and managed to produce consistent compounded returns with below average market volatility throughout the cycle. Troy AM’s cautious approach has resulted in a steady mid-term performance. Since launch in November 2016, the Trojan Global Income Fund (STS’s strategy, launched and run by James Harries) produced an annualised total return of c 9%, supported by a resilient income stream (2.6% yield). The chart below shows its superior risk-adjusted return since inception relative to peers.

13/12/2021 1 EN

Underlying

Securities Trust of Scotland PLC

Securities Trust of Scotland is an investment trust company. Co. invests in a diversified portfolio of assets particularly in a balanced portfolio constructed from global equities. Co.'s portfolio is invested in listed equities, with majority of its investment portfolio is invested in overseas securities. As of Mar 31 2017, Co.'s total investment portfolio was valued at £219.8 million.

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GB00B09G3N23 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Pedro Fonseca

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Securities Trust of Scotland - Compounding over time

Economic and Political Monthly Roundup January 2023

Economic and Political Monthly Roundup January 2023

Securities Trust of Scotland - Termination of coverage

Altron - Further margin expansion in H125

Sayona Mining - Catching up with majors

ProCredit Holding - Management expects ROE of c 10% in FY24

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