The Slater Blog

[ESG] Open Letter to all Slater Holdings

At the end of December 2019, Slater Investments sent a letter to the Chair of the Remuneration Committee for each of our holdings on the subject of Directors’ Remuneration. Please find the text of below: Dear Chair, Directors’ remuneration We write to set out our dissatisfaction with the framework of directors’ remuneration in most public

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[Commentary] Slater Recovery Fund – Annual Report for the year to 30th November 2019

For a PDF of the Full Report, please click here.   Performance Six months 1 year 3 years 5 years Since launch* Slater Recovery Fund P unit class +5.18% +17.93% +56.28% +73.55% +454.08% Investment Association (IA) OE UK All Companies +6.90% +12.43% +24.10% +38.43% +305.99% *A unit class launch 10 March 2003   Bid prices

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[Commentary] Slater Income Fund – Interim Report for the six months to 31st October 2019

For a PDF of the Full Report, please click here. Objective The investment objective of the Fund is to produce an attractive and increasing level of income whilst additionally seeking long term capital growth by investing predominantly in shares of UK listed equities. Fund Performance During the half year the Slater Income Fund returned -1.43%,

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Obeying these rules generates outsized investment returns

Fight or flight, fear or excitement? Investment management is an exercise in navigating between these two impulses.  We need coherent systems to protect us from the impulses of fear and greed, panic and exuberance. The Slater funds have been managed on the basis of selecting companies which show consistent earnings growth but are not yet

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[Commentary] Slater Growth Fund – Interim Report for the six months to 30th June 2019

For a PDF of the Full Report, please click here. Overview The Fund delivered a return of +17.84%, compared to +13.12% of the IA OE UK All Companies Index. Over the last two years the United Kingdom market has moved sideways in terms of capital value, leaving total returns resting on dividends alone. The sprightly

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[Commentary] Slater Recovery Fund – Interim Report for the six months to 31st May 2019

For a PDF of the Full Report, please click here. Overview The half year saw a remarkable turn for the better in global markets. This was triggered by the abrupt reversal of narrative by the US Federal Reserve. During the Autumn the Fed was unwavering in its plans to raise rates. Markets wilted and the

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[Commentary] Slater Income Fund – Annual Report for the year to 30th April 2019

For a PDF of the Full Report, please click here. Overview and Outlook In footballing parlance, the performance of the Slater Income Fund over the period was a ‘game of two halves’. First, global financial markets went into a tailspin during the final calendar quarter of 2018. Growing panic was triggered when the US Federal

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What do we think of equity markets in 2019?

Few long-only investors will look back on 2018 with fond memories. It was extremely challenging, especially for UK equities. Can we expect anything better this year? Of course, there are many reasons to be gloomy: England didn’t win the World Cup, or the rugby or make a showing at Wimbledon. And there’s that Brexit thing

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