Sanford DeLand Asset Management (‘SDL’), the independent asset management house dedicated to Business Perspective Investing, has marked the tenth anniversary of the CFP SDL UK Buffettology Fund (the ‘Buffettology Fund’). The Fund is at the top of the IA UK All Companies sector since its launch on 28 March 2011 and top decile over 3 and 5 years.
The Buffettology Fund – managed by SDL Chief Investment Officer Keith Ashworth-Lord – follows the philosophy of Business Perspective Investing, acknowledged as one of the most successful long-term investment strategies and championed by Warren Buffett and Benjamin Graham. Ashworth-Lord is assisted on the Fund by Chief Analyst, Eric Burns and Investment Analyst, David Beggs.
Ashworth-Lord, who founded SDL in 2010, is a ‘disciple’ of this investment process, which he has been following for over 25 years and which seeks to invest in excellent businesses at a fair price. The ‘Buffettology’ name is licensed from the authors of the book of the same name, Mary Buffett and David Clark.
The Buffettology Fund has managed to generate significant returns for investors, leading to Ashworth-Lord being dubbed ‘Britain’s Warren Buffett’ and ‘The Sage of Manchester’. Ashworth-Lord instead refers to Buffett as ‘the master’ and himself, ‘the apprentice’.
The Fund has returned 279% vs 94% for benchmark since launch. Companies that have been in the portfolio since the first year, and which have delivered strong returns for investors include Games Workshop and Dechra Pharmaceuticals. Both are strong examples of Business Perspective Investing, with both businesses demonstrating the essential criteria of unique products, growth potential, pricing power and barriers to competitor entry among others.
Keith Ashworth-Lord, Manager of the Buffettology Fund commented; “We are pleased to have delivered strong returns for our investors over the last decade. The current so-called rotation to value, reads like a Who’s Who of everything we don’t invest in, so is giving us a buying opportunity to add businesses to the portfolio which we have had on the watch list, including Quartix and Team17. There are also excesses in the US market which might yet create some favourable opportunities if there were to be a meaningful pull back.”
Alex Brotherston, CEO of SDL added; “The [CFP SDL] Buffettology Fund was the cornerstone of SDL at its launch in 2011. The business continues to grow steadily, with the launch in 2017 of the Free Spirit Fund managed by Andrew Vaughan and additions to the team, including David Beggs and John O’Donnell (Compliance Officer & MLRO) joining in recent months. There are other developments in the pipeline. But our main objective is, and will continue to be, focused on delivering strong performance for our investors over the next decade and beyond.”
All figures correct as at 31 March 2021.