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
The latest investment update is available on the member home page, click here to register. Registered members may log in here.
View the Traded Policies Fund product information.