The fund aims to grow investors' capital and income over time at a rate above inflation.
The investment objective of the Balanced Fund is to maximise the total return to investors, by preserving and growing the real value of your capital and income, placing an equal emphasis on the generation of income and on capital growth. Real value is defined as the value of capital and income after adjusting for the impact of inflation.
You should intend to invest for a minimum of 3 years, although you can access your capital at any time. The fund is only suitable for investors who are prepared to accept the risk of some loss of their capital.
Top 10 equity holdings |
% |
|---|---|
| Edwards Lifesciences | 2.9 |
| Schneider Electric | 2.8 |
| Kerry | 2.7 |
| Air Liquide | 2.7 |
| Asahi Intecc | 2.7 |
| Microsoft | 2.6 |
| Mettler-Toledo | 2.4 |
| Watsco | 2.4 |
| Tokyo Ohka Kogyo | 2.3 |
| ASML | 2.3 |
Target asset and geographic allocations as at 31 May 2025. Actual allocations may vary.
Top 10 equity holdings are accurate as at 31 May 2025.
| 1 Year | 3 Years | 5 Years | 10 Years | Inception | |
|---|---|---|---|---|---|
| Cumulative Return | -3.2% | 3.6% | 20.1% | 67.1% | 1157.2% |
| Cumulative RPI | 4.5% | 20.2% | 37.5% | 55.9% | 236.6% |
| Annualised Return | -3.2% | 1.2% | 3.7% | 5.3% | 7.4% |
| Annualised RPI | 4.5% | 6.3% | 6.6% | 4.5% | 3.5% |
| YTD to 31/05/2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Discrete annual returns | -2.1% | 0.5% | 5.2% | -4.2% | 11.1% | 12.1% | 12.2% | -2.0% | 6.5% | 18.6% |
The Annualised Return represents the average annual return of the fund over a set number of years. It is calculated using a geometric average which means that it captures the effects of compounding over the years.
Please note that the returns shown are historic and should not be taken as a guide to or guarantee of likely future returns. Please be aware that the value of investments and the income they generate may go down as well as up.
We manage The Balanced Fund on the same rigorous principles as our private client portfolios. This simple and straightforward approach seeks to identify quality businesses that we can hold for the long term. We do not use market benchmarks to guide our investment allocations. Instead, we focus on making the right decisions to meet the fund’s objectives, without having to follow the herd.
We draw on our team’s collective experience to evaluate the merit of every investment. Allocations are regularly reviewed and actively managed to adjust the fund’s exposure to different themes, countries, and risks, so they are tailored for prevailing market conditions. We have chosen to invest directly to ensure we keep control over every investment.
For more details see our Investment approach or contact us.
The fund’s portfolio strategy is based on diversification by asset class and geography. Bond holdings are in relatively short-dated US, UK and Swiss government issues.
Recently, equity markets have been particularly volatile as expectations for global growth have been scaled back. The US dollar has also dropped, impacting the sterling value of US investments.
This followed the announcement of US tariffs that were considerably higher than anticipated and the prospect of retaliatory measures from trading partners. Although robust labour markets and increased government spending should provide a reasonable starting point for many economies to adapt to changes in global supply chains, there are signs that immediate prospects may become more difficult, even if the trading disputes are resolved quickly.
Against this background, the diversification offered by a wide spread of investments and asset classes forms the key element of our strategy. Stock selection remains focused on high quality companies, whose management appears capable of adjusting quickly to changes in testing environments. Meanwhile, the bond allocation should continue to protect the fund from the worst of any market falls. We have increased this allocation from 30% to 35%, and have also switched 5% from US government bonds to their UK equivalents.
Commentary updated on 30th April 2025.
We offer income and accumulation class units. The decision whether to buy income or accumulation units will depend on whether you would prefer to receive the income as cash or would like it to be automatically reinvested.
The fund is a UK UCITS authorised unit trust. As such there are tax considerations: individuals can defer incurring capital gains tax until units in the fund are sold, and the portfolio of underlying investments are managed without tax constraints.
The fund can be held in ISAs, JISAs and SIPPs.
The value of an investment, and any income from it, may go down as well as up and you may get back less than you originally invested. Past performance is not a guide to future performance. You should always seek appropriate advice from their financial adviser before committing funds for investment. Further information is available in the Key Investor Information Document (KIID), the risk section of the Fund’s prospectus and the Fund Fact sheet. Please read the KIID before making any investment decision.
The McInroy & Wood Funds (i.e. the McInroy & Wood Balanced Fund, the McInroy & Wood Income Fund, the McInroy & Wood Smaller Companies Fund, and the McInroy & Wood Emerging Markets Fund) are not marketed outside of the UK and the information regarding the McInroy & Wood Funds on this website is not intended to be used by, or to be available to, persons accessing the website from outside the United Kingdom. We do not accept applications by, or on behalf of, US Persons (being a national, citizen, or resident of the United States of America or a corporation or partnership organised under the laws of the United States of America or having a principal place of business in the United States).
The distribution of the information and documentation on this website may be restricted by law in certain countries. This website, and the information and documentation on it, are not addressed to any person resident in the territory of any country or jurisdiction where such distribution would be contrary to local law or regulation. All persons accessing this website should check their local regulations before considering investment.
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The information on this website is for information purposes only and information contained on it is not intended to be an offer to buy or sell securities and this website should not be regarded as an offer or solicitation to conduct investment business as defined in section 21 of the UK Financial Services and Markets Act 2000 (FSMA).
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at 12 noon on 06/06/2025
at 12 noon on 06/06/2025
Income will be automatically reinvested and retained within the fund, increasing the unit price.
Income from the fund will be paid directly to you.
£500
£100 minimum monthly investment
ISA, JISA, SIPP
23rd February 1990
UK UCITS authorised unit trust
Historic dividend yield reflects distributions declared over the past 12 months as a percentage of the unit price. You should remember that the price of units and the income from them may go down as well as up. Past performance should not be used as a guide to future performance.
Nil
Nil
Nil
Our funds are also available through various platforms.
Please do not hesitate to contact us should you have any questions.
EMT and EPT files are available on request.
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