Temple Bar – Foundations for success

We are now more than three years into the tenure of Ian Lance and Nick Purves as managers of the Temple Bar Investment Trust. In that time, the Redwheel team has aimed to establish a well-diversified portfolio of value-orientated holdings, which it says is positioned for a long-overdue reversion to more normal market conditions, after a decade of what the managers believe was exceptional economic policy and quantitative easing. They say that slowing growth and stubborn inflation in the UK have weighed on returns over the past 12 months. However, the trust remains well ahead of both benchmark and peer group averages since the change in management. They say that the current negative sentiment surrounding UK markets has allowed them to pick up a number of market-leading companies at historically low multiples. The managers believe that while there remain challenges in the short term, their value strategy should leave the trust increasingly well positioned.