Marlborough Balanced A Acc

•  Fund of funds, aiming to achieve superior risk-adjusted returns
•  Portfolio of 15-25 holdings
•  Core positions are funds run by active managers with consistently strong performance
•  Portfolio will also hold passive vehicles where the team believe them more suitable
•  Strong team approach and more than 75 years’ combined fund of funds experience

The Marlborough Balanced Fund is a fund of funds that targets above average returns with below average volatility. The emphasis is on delivering superior risk-adjusted returns.

Lead manager Nicholas Cooling and the team hold a portfolio of between 15-25 holdings, which include actively managed funds and, where the team believes them more suitable, passive vehicles such as exchanged traded funds (ETFs).

They take a pragmatic approach that combines top-down analysis with bottom-up fund selection. 

Using market profiles for the major geographic regions, the team will then use their own macroeconomic research, the position in the economic cycle and valuation considerations to determine whether they tilt the portfolio in favour of large, mid or small cap stocks. The same research is used to decide on a value or growth bias for the portfolio.

The team seek to populate the fund with a core selection of well-resourced managers with consistently strong performance. They aim to achieve a competitive advantage by selecting different manager styles to take full advantage of prevailing market conditions.  

In addition, they will identify shorter-term tactical ideas or themes as ‘satellite’ positions around the core. These may include energy and commodity plays, currency themes or positions in particular industrial sectors.

Between them the team have more than 75 years’ experience of the fund of funds management and place a high importance on their collective approach. They also have access to the expertise of the managers of Marlborough single-strategy funds operating in a range of specialist fields, including bonds, Far East equities, UK equities, European equities and US equities.

Risk Warning: The value of investments and the income from them may fall as well as rise and you may not get back the amount you originally invested. The Fund's underlying investments may include emerging market, smaller company and commodity funds which may be higher risk than other asset classes. The Fund may invest in fixed interest funds which will be impacted by changes in interest rates. Changes in exchange rates may affect the value of the Fund's underlying investments.