Shares Magazine - August 22, 2019

(vip2019) #1
22 August 2018 | SHARES | 1 

,ĂǀŝŶŐĞƐƚĂďůŝƐŚĞĚƚŚĞůŝƐƚŽĨƚŚĞŵŽƐƚƉŽƉƵůĂƌ
ƉƌŽĚƵĐƚƐ͕zŽƵ'ŽǀŵŝŶĞĚƚŚĞĚĂƚĂĨƵƌƚŚĞƌƚŽƐŚŽǁ
ƐŝŐŶŝĮĐĂŶƚƐƚĂƟƐƟĐĂůĐŽƌƌĞůĂƟŽŶƐ͘
&ŽƌĞdžĂŵƉůĞ͕,ĞŝŶnjǁĂƐŵŽƌĞƉŽƉƵůĂƌǁŝƚŚ
ǁŽŵĞŶƚŚĂŶŵĞŶ͕ďƵƚĞƋƵĂůůLJƉŽƉƵůĂƌǁŝƚŚ
ĂďLJŽŽŵĞƌƐ;ƚŚŽƐĞďŽƌŶďĞƚǁĞĞŶϭεκςĂŶĚ
ϭεςκͿ͕'ĞŶĞƌĂƟŽŶy;ϭεςρƚŽϭεΘϭͿĂŶĚDŝůůĞŶŝĂůƐ
;ϭεΘϮƚŽϭεεεͿ͘
ůƐŽ͕ƐƚĂƟƐƟĐĂůůLJƐƉĞĂŬŝŶŐ͕ƉĞŽƉůĞǁŚŽƌĂŶŬĞĚ
,ĞŝŶnjĂƐƚŚĞŝƌĨĂǀŽƵƌŝƚĞĨŽŽĚĂŶĚƐŶĂĐŬďƌĂŶĚ
ƚĞŶĚĞĚƚŽůŝŬĞITV (ITV) ƐŚŽǁƐ͕ƐŝŶŐĞƌ^ƚĞǀŝĞ
tŽŶĚĞƌ͕ĂĐƚŽƌZŽďĞƌƚĞEŝƌŽĂŶĚƚŚĞDĂƌŝĞ
ƵƌŝĞĐŚĂƌŝƚLJ͘
KŶƚŚĞŽƚŚĞƌŚĂŶĚ͕ƉĞŽƉůĞǁŚŽƉůƵŵƉĞĚĨŽƌ
ƐĞĐŽŶĚͲƌĂŶŬĞĚ<ŝƚ<ĂƚǁĞƌĞƐƚĂƟƐƟĐĂůůLJŵŽƌĞ
ůŝŬĞůLJƚŽƉƌĞĨĞƌŝƐŶĞLJĮůŵƐ͕ϭεΘϬƐ͚EĞǁZŽŵĂŶƟĐ͛
ŐƌŽƵƉ^ƉĂŶĚĂƵĂůůĞƚ͕ĂĐƚŽƌŶƚŚŽŶLJ,ŽƉŬŝŶƐĂŶĚ
tŝŶĚŽǁƐƐŽŌǁĂƌĞ͘


MAGNUM FORCE
'ŝǀĞŶƚŚĂƚĂĚďƵƌLJǁĂƐďŽƵŐŚƚďLJDŽŶĚĞůĞnjŝŶĂ
ŚĞĂƚĞĚƚĂŬĞŽǀĞƌďĂƩůĞďĂĐŬŝŶϮϬϭϬ͕ƚŚĞŽŶůLJůŝƐƚĞĚ
h<ĐŽŵƉĂŶLJƚŽŵĂŬĞĂŵĂƌŬŽŶƚŚĞdŽƉϭϬ&ŽŽĚ
ĂŶĚĞǀĞƌĂŐĞůŝƐƚƐŝƐUnilever (ULVR)ǁŚŝĐŚŽǁŶƐ
ďŽƚŚƚŚĞDĂŐŶƵŵĂŶĚW'dŝƉƐďƌĂŶĚƐ͘
hŶŝůĞǀĞƌĂůƐŽŽǁŶƐĂŶŽƚŚĞƌĞŝŐŚƚŽĨƚŚĞϭϬϬŵŽƐƚ
ƉŽƉƵůĂƌƌŝƟƐŚƐŶĂĐŬ͕ĨŽŽĚΘďĞǀĞƌĂŐĞďƌĂŶĚƐ͕
ǁŚŝĐŚĂƌĞʹŝŶŽƌĚĞƌŽĨƉŽƉƵůĂƌŝƚLJʹŽƌŶĞƩŽ͕tĂůůƐ͕
,ĞůůŵĂŶ͛Ɛ͕ĞŶΘ:ĞƌƌLJ͛Ɛ͕sŝĞŶŶĞƩĂ͕ŽůŵĂŶ͛Ɛ͕
<ŶŽƌƌĂŶĚDĂƌŵŝƚĞ͘
&ŽŽĚƐΘZĞĨƌĞƐŚŵĞŶƚŵĂŬĞƵƉũƵƐƚƵŶĚĞƌκϬйŽĨ
ƚŚĞĮƌŵ͛ƐƚƵƌŶŽǀĞƌĂŶĚŝŶƚŚĞĮƌƐƚŚĂůĨŽĨƚŚŝƐLJĞĂƌ
ĂůůŽĨƚŚĞŐƌŽǁƚŚŝŶƵŶĚĞƌůLJŝŶŐƌĞǀĞŶƵĞƐĐĂŵĞĨƌŽŵ
ƉƵƐŚŝŶŐƚŚƌŽƵŐŚƉƌŝĐĞƌŝƐĞƐ͘/ƚƐĞĞŵƐƚŚĂƚǁŚĞŶŝƚ
ĐŽŵĞƐƚŽĨŽŽĚĂŶĚĚƌŝŶŬ͕ǁĞ͛ƌĞǁŝůůŝŶŐƚŽƉĂLJĂůŝƩůĞ
ďŝƚĞdžƚƌĂĨŽƌďƌĂŶĚƐƚŚĂƚǁĞƚƌƵƐƚ͘
/ƚ͛ƐĂƐŝŵŝůĂƌƐƚŽƌLJĂďƌŽĂĚ͕ǁŚĞƌĞďƌĂŶĚƐůŝŬĞ
DĂŐŶƵŵĂƌĞĂďůĞƚŽĐŽŵŵĂŶĚĂƉƌĞŵŝƵŵƉƌŝĐĞ
ĐŽŵƉĂƌĞĚǁŝƚŚůŽĐĂůůLJͲŵĂĚĞƉƌŽĚƵĐƚƐ͘
dŚĂŶŬƐƚŽŝƚƐůĂƌŐĞŽǀĞƌƐĞĂƐĞdžƉŽƐƵƌĞ͕hŶŝůĞǀĞƌ͛Ɛ
ƌĞǀĞŶƵĞƐĂƌĞŵŽƐƚůLJŝŶĨŽƌĞŝŐŶĐƵƌƌĞŶĐŝĞƐǁŚŝĐŚ
ŵĞĂŶƐƚŚĂƚƚŚĞƐŚĂƌĞƐďĞŶĞĮƚĨƌŽŵĂǁĞĂŬƉŽƵŶĚ͘
dŚŝƐĐĂŶďĞƵƐĞĨƵůŝŶŽīƐĞƫŶŐƐŽŵĞŽĨƚŚĞƌŝƐŬŽĨ


ŚŽůĚŝŶŐŵŽƐƚůLJh<ͲĨĂĐŝŶŐƐƚŽĐŬƐ͘
dŚĞƐŚĂƌĞƐĂƌĞŶ͛ƚĞdžƉĞŶƐŝǀĞŽŶϭκƟŵĞƐƚŚŝƐ
LJĞĂƌ͛ƐĞĂƌŶŝŶŐƐĂŶĚƚŚĞLJƉĂLJĂϯйĚŝǀŝĚĞŶĚLJŝĞůĚ
ǁŚŝĐŚŝƐĂŵƉůLJĐŽǀĞƌĞĚ͘dŚĞLJĞǀĞŶŵĞĞƚƚŚĞ
ĞdžĂĐƟŶŐĐƌŝƚĞƌŝĂŽĨFundsmith Equity (B41YBW7)͕
ŵĂŬŝŶŐhŶŝůĞǀĞƌŽŶĞŽĨŽŶůLJϮϳƐƚŽĐŬƐŝŶƚŚĞ
ǁŽƌůĚǁŚŝĐŚdĞƌƌLJ^ŵŝƚŚĂŶĚŚŝƐƚĞĂŵĐŽŶƐŝĚĞƌ
ƚŽďĞƐƵĸĐŝĞŶƚůLJŚŝŐŚͲƋƵĂůŝƚLJǁŝƚŚŐŽŽĚŐƌŽǁƚŚ
ŵŽŵĞŶƚƵŵĂŶĚLJĞƚƐƟůůĂƩƌĂĐƟǀĞůLJǀĂůƵĞĚ͘
EŝĐŬdƌĂŝŶ͕ŵĂŶĂŐĞƌŽĨƚŚĞŚŝŐŚůLJͲƌĞŐĂƌĚĞĚ
Finsbury Growth & Income Trust (FGT) ǁŚŝĐŚ
ŽǁŶƐũƵƐƚϮϬƐƚŽĐŬƐ͕ĂůƐŽŐŝǀĞƐŝƚŚŝƐƐĞĂůŽĨ
ĂƉƉƌŽǀĂů͚͗tŽƵůĚƚŚĂƚǁĞŚĂĚŵŽƌĞďŽƌŝŶŐ
ŝŶǀĞƐƚŵĞŶƚƐůŝŬĞhŶŝůĞǀĞƌ͛͘

EVERY LITTLE HELPS
hŶƐƵƌƉƌŝƐŝŶŐůLJ͕ŝŶƚŚĞƐƵƉĞƌŵĂƌŬĞƚƐĞĐƚŽƌƚŚĞ
'ĞƌŵĂŶĚŝƐĐŽƵŶƚĞƌƐƐĐŽƌĞĚǁĞůůǁŝƚŚůĚŝƚĂŬŝŶŐ
ƚŚĞƚŽƉƐƉŽƚĂŶĚ>ŝĚůƚĂŬŝŶŐƚŚŝƌĚƉůĂĐĞ͘&ĂŶƐůŝŬĞĚ
ďŽƚŚďƌĂŶĚƐ͛ǀĂůƵĞƉƌŽƉŽƐŝƟŽŶǁŝƚŚ>ŝĚůƐŝŶŐůĞĚ
ŽƵƚĨŽƌƚŚĞ͚ƋƵĂůŝƚLJĂŶĚƌĂŶŐĞ͛ŽĨŝƚƐĨƌĞƐŚƉƌŽĚƵĐĞ͘
,ŽǁĞǀĞƌƚŚĞĚŝƐĐŽƵŶƚĞƌƐǁĞƌĞƐƉůŝƚďLJƚŚĞ
Marks & Spencer (MKS) ĨŽŽĚďƌĂŶĚ͕ǁŚŝĐŚ
ƐƵŐŐĞƐƚƐƚŚĂƚǁŚŝůĞǁĞůŝŬĞĂďĂƌŐĂŝŶǁĞƐƟůůůŝŬĞ͚Ă
ďŝƚŽĨƉŽƐŚ͛ŽŶƚŚĞƐŝĚĞ͘&ĂŶƐĚĞƐĐƌŝďĞĚŝƚĂƐ͚ĐůĂƐƐLJ͛
ĂŶĚ͚ĂƩƌĂĐƟǀĞ͕͛ǁŚŝůĞĂƚƚŚĞƐĂŵĞƟŵĞ͚ĂĐĐĞƐƐŝďůĞ͛͘
ůƚŚŽƵŐŚSainsbury’s (SBRY) ƉŽůůĞĚǁĞůů͕ĂŶĚŝƚƐ
ƌŐŽƐƐƵďƐŝĚŝĂƌLJĐĂŵĞƐĞĐŽŶĚŝŶƚŚĞůŝƐƚŽĨZĞƚĂŝů
ƌĂŶĚƐ͕ǁĞďĞůŝĞǀĞƚŚĂƚTesco (TSCO)ŝƐďŽƚŚĂ
ďĞƩĞƌďƵƐŝŶĞƐƐĂŶĚĂďĞƩĞƌŝŶǀĞƐƚŵĞŶƚ͘
^ĂŝŶƐďƵƌLJ͛ƐĨĂŝůĞĚŵĞƌŐĞƌǁŝƚŚƐĚĂ͕ǁŚŽƐĞ
ƉĂƌĞŶƚtĂůDĂƌƚǁŽƵůĚŐůĂĚůLJŚĂǀĞŽŋŽĂĚĞĚŝƚ
ŐŝǀĞŶƚŚĞĐŚĂŶĐĞ͕ůĞĂǀĞƐƚŚĞƉĂŝƌŽĨƚŚĞŵŝŶ

(^3800) 2018 2019
4000
4200
4400
4600
4800
5000
5200
UNILEVER (UK)
BEVERAGES OWNER LOCATION
Robinsons ƌŝƚǀŝĐ UK
PG Tips hŶŝůĞǀĞƌ h<ͬ,ŽůůĂŶĚ
Schweppes ŽĐĂͲŽůĂ h^
Yorkshire Tea ĞƩLJƐΘdĂLJůŽƌƐ UK
Ribena ^ƵŶƚŽƌLJ :ĂƉĂŶ
Fanta ŽĐĂͲŽůĂ h^
Twinings &ŽŽĚƐ UK
Nescafe EĞƐƚůĞ ^ǁŝƚnjĞƌůĂŶĚ
Coca-Cola ŽĐĂͲŽůĂ h^
Sprite ŽĐĂͲŽůĂ h^
^ŽƵƌĐĞ͗zŽƵ'ŽǀƐƵƌǀĞLJ:ƵŶĞͲ:ƵůLJϮϬϭε

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