23rd Mar '17


Real Name: Rob Davies

Occupation: Fund Manager

Interests: Funds, Stocks

Twitter: resdsavies

About Me:

Rob Davies is the Fund Manager of VT Smart Dividend UK Fund, formerly The Munro Fund.. He worked as a professional geologist in Antarctica and Australia before joining the City as a mining analyst.  From 1999 to 2001 he was a writer at The Motley Fool and in 2002 he joined the Private Client Department of Clydesdale Bank as Senior Investment Analyst where he was responsible for writing and maintaining investment policy, selecting securities and portfolio creation. His experience of the stock market as an equity research analyst, personal finance writer and portfolio construction manager has given him a unique background to draw on in crafting this investment process which he now runs at VT Smart Dividend UK Fund, previously known as The Munro Fund.

Investment Strategy
I trade... extremely rarely
I tend to buy... according to my system
I hold for... years
Diversification is ... essential to reduce risk

Fundamental tracking/smart beta

Fund Management

The VT Smart Dividend UK Fund, formerly The Munro Dividend Fund seeks to buy the UK market in proportion to the forecast dividend of its constituents and in this way provide the returns of the asset class at lower volatility.

Web Address:

Address: Glasgow

Tel: 07889 690369

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Rob Davies's Latest Blogs

Unless it is a market capitalisation tracker fund, that perfectly matches, the index any portfolio will lead or lag the returns of the index it relates to. One way to quantify this difference is a measure called beta which is an expression that quantifies the volatility of the portfolio relative to the benchmark. A figure of one means it has the same volatility as the…

Whether a portfolio is run actively or passively the question of balancing between faithfully following the model or process and incurring trading costs is a perennial one. Although it might seem that traditional market capitalisation trackers might not have a problem with this in practice they are faced with many of the same issues as active managers when it comes to index rebalancing, new issues,…

Brexit delivered a shock to the political and financial world in the UK. No one expected it, although the vagueness of opinion polls should have been a warning. The immediate aftermath was a sharp fall in the value of sterling and UK equities followed by a recovery of UK equities in sterling terms although not when measured in other leading currencies. With hindsight it looks…

Over the last few years the salient feature of equity investing has been the outperformance of the small and mid-cap stocks at the expense of large cap shares. The simplest way to demonstrate that is to contrast the 25.3% total return of the FTSE 100 over the last five years to 31st May with the 63.5% return of the FTSE 250 over the same period.…

Few things whet the appetite for investors quite as much as yield. Hefty dividends and or chunky interest payments can go a long way to compensating for the volatility and risk of capital markets. Nowhere is this more pertinent than in equity income funds. The attractions of this category mean that they merit not one but two sectors; Equity Income and UK Equity & Bond…

Rob Davies's Latest Comments

Ed, you are correct about the rebalancing. I should have made it clear I was referring to corporate actions, mainly IPOs and transitions from, say, mid-cap to large cap, indices. You also get adjustments for free-floats from time to time. Your point about single stocks, VOD in the UK or Apple in the US, becoming too dominant is well made. That is one of the…

Excellent article Ed. Of course it applies to the traditional mainstream printed press as well. Your piece should be required reading for every investor. As always Ben Graham got there first when he said that in the short term the stock market is a voting machine.

Earnings data for most corporates is very flakey as the constant use of "adjusted" eps evidences. For that reason calculations on dividend cover should also be treated with caution.

I know, that is part of the problem.

I don't see why there should be a recession after the boost from manufacturing from a 7% devaluation.

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