TRUST WATCH: Temple Bar Investment

What is it?

The 94-year old trust is facing a turning point. After its manager Alastair Mundy of Ninety One took a leave of absence due to ill health in April, it has appointed Nick Purves and Ian Lance of RWC to run the trust going forward.

What does it invest in? 

Even with the new managers, the trust has confirmed it will keep its value-style of investing – picking unloved stocks in the belief they will deliver solid performance. 

It mainly focuses on the UK, though does have exposure to the US and Europe. Biggest holdings include Travis Perkins, IWG and Bayer.

What do the experts like? 

James Carthew, of Marten & Co, wrote in a note to clients: ‘The RWC team says that value stocks have never looked more unloved in the 30-odd years they have been managing money.’ In their view, he said, it is ‘an attractive entry point for new investors’.

Any downsides?

Value investing is deeply out of favour at the moment, as money has piled into popular tech stocks. 

RWC is also planning to cut Temple Bar’s valuable dividend, which has been rising for 36 years, to a more ‘sustainable’ level.

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