TM CRUX UK Core Fund
Fund Opportunity
The TM CRUX UK Core Fund seeks to preserve and enhance the real value of capital. It does so by investing in businesses that we believe will become more valuable over time. These are businesses with decent economics, sustainable business models and, most importantly competent honest management teams. Ultimately we aim to be a consistent, reliable fund for investors seeking exposure to the UK stock market.
Please note on 13th December 2024 this fund will be transferred to Oberon Investments Group. For further information please follow the link to investor notice. TM CRUX Funds ICVC - Investor Notice - 20241101
Investment Process
The TM CRUX UK Core Fund employs a rigorous screening process that asks three key questions:
- Do we understand the business?
- Is the business comfortably economic over the cycle?
- Do we trust the management?
Companies that pass all three stages of the screen are then put through the same valuation process that looks at their characteristics and cash generation through the business cycle which tends to lead to the selection of stocks with characteristics that include: low capital intensity, consumer brands, strong balance sheets, barriers to entry and durability. This rigorous valuation enables a long-term, low-turnover approach that looks beyond short-term volatility to deliver long-term dividend and capital growth.
Fund Facts
| Fund Name | Strategy | Fund Manager | Style | Pricing | Eligible | Performance Comparator | IA Sector | ISA Eligible | Structure |
|---|---|---|---|---|---|---|---|---|---|
| TM CRUX UK Core Fund | UK Equity Large-Cap bias Fund | Richard Penny | Active | Daily | UK and Overseas equities | IA UK All Companies Sector | IA UK All Companies Sector | Yes | UK Domiciled OEIC and UK-UCITS |
| Share Class | Share Type | Share Class Currency | ISIN | Ongoing Charges* (OCF) | Entry Charge | Exit Charge | Performance Fee | Minimum Investment Amount |
|---|---|---|---|---|---|---|---|---|
| A-Class | Income | GBP | GB0030613276 | 0.93% | None | None | None | £100.00 |
| A-Class | Accumulation | GBP | GB00B56N2X45 | 0.93% | None | None | None | £100.00 |
| B-Class | Income | GBP | GB00B5839S67 | 0.83% | None | None | None | £100.00 |
| B-Class | Accumulation | GBP | GB00B05MF837 | 0.83% | None | None | None | £100.00 |
*The ongoing charge is based on last year's expenses for the year ending 30 September 2022. This figure may vary year to year.
Meet the Manager
Richard Penny
Richard joined CRUX Asset Management in June 2018 and started managing the TM CRUX UK Special Situations Fund in October 2018, he then became lead fund manager of the TM CRUX UK Core Fund in November 2021 having been deputy fund manager since October 2018. Prior to this, Richard had worked at LGIM for 15 years where he had managed the award-winning L&G UK Alpha Trust and L&G UK Special Situations Trust as well as several segregated mandates. Previously he worked at M&G Investment Management, and prior to that Scottish Amicable Investment Management. In June 2021 Richard received a AAA rating from Citywire. Richard has a master’s degree in Engineering and Economics from Oxford University.
Fund Literature
Fund Objectives and Investment Policy
The investment objective of the Fund is to achieve long-term growth, which should be seen as five years plus, through both capital appreciation and income generation.
There is no guarantee that the Fund will achieve a positive return over this, or any other, period and investors may not get back the original amount they invested.
In seeking to achieve the Fund's objective, the portfolio will consist predominantly (75% or greater) of companies listed on a UK equities exchange which are incorporated or domiciled in the UK. The investments will be ordinary shares and other transferable securities including, but not limited to, preference shares and debt securities convertible into ordinary stocks and shares. The Fund may also invest in cash, money market instruments, deposits, warrants, units in other collective investment schemes and derivatives.
The Fund will typically consist of between 20 and 40 holdings and may also invest in companies which are not listed, incorporated or domiciled in the UK if the investment manager believes that they should be beneficial for the Fund.
The Fund will have a relatively highly concentrated portfolio and is therefore subject to a risk of greater volatility.
Derivative transactions may be used for the purposes of meeting the investment objective of the Fund as well as for hedging purposes, although it is not anticipated that the Fund will use this power to enter into derivatives at present.
Contact Us
For individual investor enquiries please contact the Fund's Administrator.
in writing to:
CRUX Asset Management Limited
PO Box 12248
Chelmsford
Essex
CM99 2EG
United Kingdom
or by phone:
+ 44 (0) 345 113 6965
Office hours are between 9am and 5pm (GMT) Monday to Friday.
How to Invest
You can invest in the TM CRUX UK Core Fund, a sub Fund of the TM CRUX Funds ICVC, via several methods, which include:
Fund platform
The TM CRUX UK Core Fund is available to purchase through a wide range of platforms and supermarkets. Please see the list of platforms and supermarkets below.
Financial Advisor
Your financial adviser can give you advice on making an investment. They will help plan your investments based on your overall financial goals. If you do not have a financial adviser, please visit unbiased.co.uk
The TM CRUX UK Core Fund has multiple share classes available, some with different minimum investment amount or charging structures. Please refer to the Fund Fact section of this page or the literature section of our website for more information.
Important information
The material within this website (including research) is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell an investment.
The TM CRUX UK Core Fund is available via the following providers:
Fund Registrations:
| Fund | Domiciled | UK | Switzerland |
|---|---|---|---|
| TM CRUX UK Core Fund | UK | Yes | |
| TM CRUX UK Special Situations Fund | UK | Yes | |
| TM CRUX UK Smaller Companies Fund | UK | Yes | |
| TM Lansdowne European Special Situations Fund | UK | Yes | Yes |