|3 yr comparison -v- FTSE All Share|
As a result, CTY will continue to have one of the lowest ongoing charges in the UK Growth and Income sector and is extremely competitive against other equity investment alternatives.
The portfolio performance benefited from underweight positions in the oil and mining sectors, allied with overweight position in industrial engineering - notably IMI which returned 54%. Other significant contributors were housebuilder Persimmon and holiday firm Tui Travel which both returned over 100%, Standard Life 60% and betting firm William Hill with 73%. Share selection accounted for 4.1% of out-performance over the FTSE and gearing a further 2.1%.
Over the year there was a 4% reduction in the weighting in large companies with medium-sized companies increasing by 3% and overseas listed by 1%. Large companies (FTSE 100) now account for 76% of the portfolio, medium companies 16% and overseas-listed companies, 8%.
I first purchased CTY for my personal equity plan (PEP) in 1995. I now hold in both my ISA and Sipp drawdown portfolios. It feels like a dependable, faithful old carthorse. Maybe that's where Slow & Steady Steps.. comes from!!