New TB Evenlode Global Equity fund launches with discounted charges for Chelsea clients

21 June 2021 – Evenlode Investments has launched a global equity fund under the management of Chris Elliot and James Knoedler.

About the fund

Typically holding less than 40 stocks, TB Evenlode Global Equity was launched last year but has just been made available to retail clients. It has a bias towards larger companies with growth opportunities, and the same investment process as TB Evenlode Global Income fund, which is co-managed by Chris and is on the Chelsea Selection. The key difference is this new fund doesn’t have a dividend mandate.

Chelsea’s research team met with James earlier this month. He said the team see this as a natural extension of their strategy, as there were lots of companies in the universe they liked but didn’t own because of the lack of yield. They are also responding to client demand – clients who like the investment approach, but don’t need the income.

James expects around a third of holdings to overlap with those of TB Evenlode Global Income. He and Chris will look for high quality companies able to compound cash flows over time and will buy them on sensible valuations. As with the other strategies, asset light companies that can grow over many years in different economic backgrounds will be preferred.

The managers will also look for competitive advantage (barriers to entry such as network effects and brands), structural growth markets (long-term tailwinds increasing the use of services/goods) and sustainable investment (culture, management team, a history of reinvesting to grow).

“When we speak to fund managers one of the first things we look for is a solid, repeatable process,” commented Ryan Lightfoot-Brown, senior research analyst at Chelsea. “The team at Evenlode has exactly this on both the Income and Global Income funds they have launched with much success. This fund is the next logical step.”

Discounted share class for Chelsea clients

Evenlode has made a cheaper share class available to Chelsea clients wishing to invest in the fund. The fees on the share class have been reduced from 0.85% to 0.75%. NB. This discounted share class is currently only available over the telephone and so please call the office on 020 7384 7300.

Past performance is not a reliable guide to future returns. You may not get back the amount originally invested, and tax rules can change over time. The views expressed are those of the research team and do not constitute financial advice.