The company’s investment policy is to invest principally in the securities of companies either listed in the UK or otherwise incorporated, domiciled or having significant business operations within the UK, whilst up to a maximum of 20% of the company’s portfolio, at the time of acquisition, can be invested in companies not meeting this criteria.
Nick’s approach is based on that of Warren Buffett’s and involves building a concentrated portfolio of “quality” companies that have strong brands and/or powerful market franchises. The bulk of these are UK companies. This leads to a very different portfolio when compared to the benchmark FTSE All-Share Index.
| Top 10 | ||
|---|---|---|
| London Stock Exchange | Financials | 11.5 |
| Unilever | Consumer Goods | 10.7 |
| Diageo | Consumer Goods | 9.9 |
| Mondelez Int. | Consumer Goods | 9.3 |
| RELX | Consumer Services | 9.1 |
| Schroders | Financials | 7.1 |
| Burberry Group | Consumer Goods | 6.2 |
| Sage Group | Technology | 6.1 |
| Hargreaves Lansdown | Financials | 6.0 |
| Remy Cointreau | Consumer Goods | 5.2 |
| Total | 81.1 |