Latitude Horizon Fund


THE OBJECTIVE OF THE LATITUDE HORIZON FUND IS TO DELIVER CAPITAL APPRECIATION OVER THE LONG TERM BY HOLDING A CONCENTRATED PORTFOLIO OF STOCKS, WHILST LOWERING THE EQUITY RISK THROUGH A SELECTION OF NON-EQUITY INVESTMENTS. 

December 2017 Commentary

2018 marks the tenth year since the beginning of a raging bull market that started after the financial crisis. A combination of cheap stocks and cheap money lit a fuse that continues to burn brightly, somewhat ambivalent to the fact that stocks are now more expensive and money is about to become so, as central banks forge ahead with rate rises.

The conclusion should be that now is not the time to take high levels of risk - better to produce solid returns and wait for more attractive future entry points than to be the "greatest fool" buying at the top. However, the current situation is quite different, with speculative demand for cryptocurrencies, start up tech businesses and innovative debt offerings hitting a record scale. We remain cautiously invested and optimistic for the long-term future of our portfolio of investments. Timing the end is too difficult for us, and forms no part of our process. We believe that prudence at every stage of a market cycle is warranted, and will bear out superior returns in the long term.

It is pleasing therefore that Latitude's first full year in existence produced strong returns while taking low levels of risk. Since launch the fund is up 9% in line with previous years and, critically, the fund’s risk was a third of equity markets. We will maintain this position into 2018 and beyond, continuing to attempt to achieve a balance between making reasonable returns for ourselves and our clients without risking our capital. Thank you all for your continued (and future!) support, and we wish you all the best for the year ahead.

Our full annual report with detailed performance and stock analysis will be published shortly.

Fact Sheet
Key info
Fund Launch Date 1st November 2016
Legal Structure Irish Domiciled UCITS V Fund - ICAV
Regulator Central Bank of Ireland
Base Currency Sterling
Regional Exposure Global, primarily developed markets
Benchmark The fund is not benchmarked
Share Classes £ - A/I IE00BDC7CZ89 / IE00BD37NY30
$ - A/I IE00BD37NZ47 / IE00BDC7JY67
€ - A/I IE00BDC7CX65 / IE00BDC7CW58
Management Fee 1% per annum
Performance Fee 0%
Dealing Daily
Administrator SEI Investments – Global Fund Services
Custodian SEI Investments Trustee and Custodial Services (Ireland)
Auditors PriceWaterhouseCoopers
Legal Council Matheson
Firm Compliance Optima Partners
Contact Details Emma Barrat
Emma.Barrat@latitudeim.com
12-13 St James’s Place, London, SW1A 1NP
+44 (0) 207 087 9273
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