Traded Life Policies Fund
Performance:
2008 was particularly good for TLP funds. The sterling share class in Traded Policies Fund, which is available to retail investors, delivered 10.56% net of all charges over the year to 1 January 2009. The credit crunch was in fact beneficial for TLP investors, who were able to buy them at discounted prices towards the end of last year from cash-strapped institutions with substantial portfolios that were selling TLPs at a discount to raise money.
TLP funds are becoming popular. A report by Professor Merlin Stone of the Bristol Business School, published in December, estimate that investment in TLP funds by both retail and institutional investors rose by more than 50% over the year to 1 November 2008. One of the reasons that Professor Stone believes that TLP funds are likely to grow in popularity among retail investors is that they can be a good replacement for with profits-based investments because they offer steady, incremental returns with relatively low risk.
Institutional Share Classes
Fund performance to 01 Jul 2010
| Share Class | Start Date | NAV | 1 Month | 3 Months | 6 Months | 12 Months | Annualised | Since Launch | Sharpe Ratio | Standard Deviation |
|---|---|---|---|---|---|---|---|---|---|---|
| USD Institutional | 30/06/2004 | 166.411 | 0.76 % | 2.30 % | 4.66 % | 9.33 % | 8.84 % | 66.41 % | 4.83 | 0.0050 |
| EUR Institutional | 31/07/2005 | 146.285 | 0.78 % | 2.36 % | 4.75 % | 9.45 % | 8.56 % | 46.28 % | 5.34 | 0.0041 |
| GBP Institutional | 31/07/2005 | 152.053 | 0.79 % | 2.39 % | 4.82 % | 9.54 % | 9.13 % | 52.05 % | 8.49 | 0.0028 |
| JPY Institutional | 15/09/2009 | 10701 | 0.75 % | 2.27 % | 4.60 % | 9.47 % | 9.47 % | 7.01 % | 361.62 | 0.0001 |
* Where the fund has been operating for less than 12 months, the figure has been annualised
Growth Share Classes Information
Fund performance to 01 Jul 2010
| Share Class | Start Date | NAV | 1 Month | 3 Months | 6 Months | 12 Months | Annualised | Since Launch | Sharpe Ratio | Standard Deviation |
|---|---|---|---|---|---|---|---|---|---|---|
| GBP Growth Class | 15/03/2007 | 134.064 | 0.73 % | 2.21 % | 4.45 % | 8.87 % | 9.46 % | 34.06 % | 24.24 | 0.0010 |
| EUR Growth Class | 15/04/2008 | 121.034 | 0.72 % | 2.18 % | 4.39 % | 8.79 % | 9.23 % | 21.03 % | 31.67 | 0.0008 |
| USD Growth Class | 15/04/2008 | 120.453 | 0.71 % | 2.15 % | 4.35 % | 8.74 % | 8.98 % | 20.45 % | 39.27 | 0.0006 |
| JPY Growth Class | 15/02/2010 | 10278.9 | 0.69 % | 2.08 % | - | 8.60 % | 8.60 % | 2.79 % | 6652.94 | - |
| SEK Growth Class | 15/10/2009 | 105.939 | 0.73 % | 2.21 % | 4.45 % | 9.01 % | 9.01 % | 5.94 % | 182.27 | 0.0001 |
* Where the fund has been operating for less than 12 months, the figure has been annualised
Recovery Class Information
Fund performance to 01 Jul 2010
| Share Class | Start Date | NAV | 1 Month | 3 Months | 6 Months | 12 Months | Annualised | Since Launch | Sharpe Ratio | Standard Deviation |
|---|---|---|---|---|---|---|---|---|---|---|
| GBP Recovery | 15/03/2009 | 109.867 | 0.64 % | 1.93 % | 3.89 % | 7.69 % | 7.82 % | 9.87 % | 66.02 | 0.0003 |
| EUR Recovery | 15/03/2009 | 109.737 | 0.63 % | 1.90 % | 3.83 % | 7.60 % | 7.72 % | 9.74 % | 67.88 | 0.0003 |
| SEK Recovery | 15/06/2009 | 107.675 | 0.64 % | 1.93 % | 3.89 % | 7.65 % | 7.65 % | 7.68 % | 64.91 | 0.0003 |
| USD Recovery | 15/05/2009 | 108.237 | 0.62 % | 1.87 % | 3.79 % | 7.57 % | 7.58 % | 8.24 % | 70.82 | 0.0003 |
* Where the fund has been operating for less than 12 months, the figure has been annualised
Income Class Information
Fund performance to 01 Jul 2010
| Share Class | Start Date | NAV | 1 Month | 3 Months | 6 Months | 12 Months | Annualised | Since Launch | Sharpe Ratio | Standard Deviation |
|---|---|---|---|---|---|---|---|---|---|---|
| GBP Income | 15/10/2009 | 105.929 | 0.73 % | 2.21 % | 4.45 % | 9.02 % | 9.02 % | 5.93 % | 208.43 | 0.0001 |
* Where the fund has been operating for less than 12 months, the figure has been annualised
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View the Traded Policies Fund product information.