2025 was not our year. Returns were materially below our objectives as global equity markets advanced. The extraordinary aspect of 2025 is that for the most part the Strategy’s companies maintained their excellent operating momentum, but this was not reflected in their share prices.
Read moreThis past quarter was marked by ‘proxy season’, the time of year when companies open their doors to shareholder scrutiny through Annual General Meetings (AGMs). Troy’s Investment Team has cast 100 votes at 68 company meetings so far, weighing in on a wide range of proposals.
Read moreHad you fallen asleep at the start of the year, only to be revived six months later, you might be forgiven for thinking that markets were similarly sedate. Of course, the first half of the year has been anything but dull...
Read moreWithout wanting to count our chickens too soon, it is natural to reflect on this year’s returns as we edge towards the conclusion of the year. Quite simply, it has been another spectacular year of gains for global equities
Read moreTom catches up with Gabrielle and George to discuss why the market persistently underestimates the compounding power of rare and exceptional companies and why they work so well together as a team.
Listen nowWe are surprised by the strength of markets so far this year and the magnitude of the gains, especially since the multiple interest rate cuts so widely expected at the start of the year have failed to materialise.
Read moreIn this video Gabrielle Boyle, Head of Research & Co-manager of Troy’s Global Equity Strategy explains how the strategy seeks to invest in resilient, high-quality companies over the long-term.
Watch nowIt is in the nature of portfolios that not all investments are perfectly behaved at all times. Disappointment is inevitable; accidents and mistakes happen.
Read moreGabrielle Boyle and George Viney discuss the importance of patient investing and how the Global Equity Fund’s commitment to holding rare, high-quality businesses for the long term has generated strong risk adjusted returns.
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