Securities Trust of Scotland (STS) has been managed by James Harries and Tomasz Boniek of Troy Asset Management (Troy AM) since November 2020, when the board passed this mandate to Troy AM. The fund is structured and managed to produce consistent compounded returns with below average market volatility throughout the cycle. Troy AM’s cautious approach has resulted in a steady mid-term performance. Since launch in November 2016, the Trojan Global Income Fund (STS’s strategy, launched and run by James Harries) produced an annualised total return of c 9%, supported by a resilient income stream (2.6% yield). The chart below shows its superior risk-adjusted return since inception relative to peers.
