Our Funds

The Equitile Resilience Fund (UK-domiciled) aims to deliver capital growth by investing in large, growing companies in the developed markets. It is managed according to our core investment principles and uses the Equitile Fair Fee Model.

The Equitile Global Equity Fund (Ireland-domiciled ICAV) follows the same strategy and principles as the Equitile Resilience Fund. The lastest update and other documents can be found here. 

Equitile Resilience Fund

Latest Overview - February 2023  (Print version: GBP Class, USD Class, EUR Class, NOK Class)

During the month we have reduced and diversified your investments in the Luxury Goods sector, trimming your holdings in both LVMH and Hermes while increasing your investment in Richemont; owner of, amongst others, the Cartier and Van Cleef & Aprels brands. We have used the proceeds of these changes to increase your investments in the Aerospace and Defence sector.

February has witnessed the first anniversary of Russia’s invasion of Ukraine, regretfully, that conflict looks set to continue for the foreseeable future. As a result, weapons systems will need replacing and, military expenditure, as a percentage of GDP, will likely rise over coming years. Elsewhere in the economy, we have observed a marked downshift in revenue growth for companies reliant on private sector spending where inflation and higher debt service costs are eroding real disposable income. On the other hand, order books in the Aerospace and Defence sectors suggest strong future revenue and earnings growth. 

The recent relaxation of Covid lockdown restrictions in China appears to be unleashing the expected economic boost through pent-up-demand spending. The timing of this development represents a welcome counterbalance to the weaker demand from European and US economies. We believe your portfolio is well positioned to benefit from stronger Chinese growth through its investments in in the Energy, Mining and Luxury Goods sectors.