Latest commentary from the Tyndall UK equity desk below. As always, please do not hesitate to get in touch if you would like to know anything about Tyndall or specifically the VT Tyndall Unconstrained UK Income Fund.
Simon Murphy, manager of the VT Tyndall Unconstrained UK Income Fund, shares his progress report on our views that over a 5 year period, 'value' (our proxy being Imperial Brands) might outperform 'growth' (our proxy Rentokil Initial), and how that resonates with our key tenet for our investment philosophy - starting valuations are fundamentally important to future total returns. The results, nearly 4 years into the 5 year strategy, show that despite superior financial period over the period, Rentokil has so far significantly underperformed as an investment. Whilst alot can happen in stock market terms in a year, we believe that the market continues to overpay for growth (ie the returns that Rentokil generates) whilst underpaying for value (i.e. those returns from Imperial Brands). Please read more for our thoughts in detail below or please do get in touch. #activemanagement #ukequityincome #value #growth