Troy Asset Management is predominantly a direct equity investment house however other asset classes are used for specific purposes within the different mandates.
Troy's UK Equity Income mandates invest indirectly in property and infrastructure Real Estate Investment Trusts ("REITs") to gain access to these asset classes via vehicles that provide liquidity, diversification and expertise in capital allocation.
Troy's Multi-Asset mandates hold cash, T-Bills, gold and UK Index Linked bonds and US Treasury Inflation-Protected Securities as protection against equity market volatility. US and UK government debt substantially accounts for all of Troy's Fixed Income and Money Market exposure.
The Environmental, Social & Governance ("ESG") integration and active ownership policies for long and short dated sovereign issues are the same. Troy holds no Fixed Income assets outside of sovereign issues.
Externally managed equities are predominantly held within Troy's Fund of Funds mandate and within private funds which represent some 4% of Troy's total AUM.