The Castleton Growth Fund, (nee CGF) known as Fund 829 to Capita and 393539 to BNY, was peacefully rested today, on the 17th March 2016, by Barmac Asset Management, aged 9 years 7 months and 27 days (or 3,530 days).
The Fund was born in Exeter on the 11th July 2006 and was an UCITS scheme with three parties involved upon inception:- Sinclair Henderson Fund Administration Ltd, Barmac Asset Management and ABN Amro Mellon Securities B.V. It transferred to Capita Financial Managers Ltd from Sinclair Henderson on the 6th April 2007.
The Fund was launched on the 18th July 2006 as The Castleton Growth Fund - Retail share class. The Fund’s ISIN was GB00B17PF769 and it had a daily valuation point of 10am, an initial charge of 5.5%, a gross annual charge of 1.75% and trail commission of 0.65%, with its accounting year end being the 30th June. The Fund’s performance benchmark was based on 3-month sterling LIBOR + 1%, payable at 20% of out performance of the benchmark.
On inception (18th July 2006) the Fund was priced at one hundred pence and had launch funds of £11,705,515.
Within four years and as its highest peak (as at 8th April 2010) the Fund size reached £85,439,459.96.
It had its highest share price of 115.21 on the 3rd June 2015 and it’s lowest of 86.27 on the 26th June 2012.
The best period was when the Fund outperformed the markets between June 2008 to April 2010, when it outperformed every UK main indicie (FTSE 100, Mid250 and Small Cap).
Three other share classes were launched on the 5th January 2009, to complement the Retail Income share class.
The Fund was available through various platform providers. It reached a three-crown rating with Financial Express. Its index to compare to was the IMA Cautious Managed sector until it became the IMA Mixed Investment 20%-60% Shares Sector. It was first quartile several times over both one and three years. Even being first as the (top fund over 1 and 3 years) on numerous occasions.
It made the headlines on several occasions with the press commenting on its excellent performance but it also had a bad press day by making the Red Zone. Nonetheless, these events tied in with the performance prices of the Fund. The Castleton Growth Fund has had its fair share of up and downs along the way, so it is with personal sadness about its closure.
So as The Castleton Growth Fund bows out gracefully, I simply say …........... it was fun while it lasted.
Simon Horsfall - 17th March 2016