Manager firm
CG Asset Management Limited
Manager(s)
Peter Spiller, Chris Clothier, Alastair Laing, Emma Moriarty, Hassan Raza, Jock Henderson
Structure
Flexible Investment
AIC sector
Flexible Investment
Domicile
United Kingdom
Base currency
GBP
Launched
1973-02-09
Latest factsheet
2026-06-30
Snapshot date
2025-08-31
Share price
517.00p
NAV / share
520.74p2026-10-16
Premium / discount
-0.72%
Fund size
£812m
OCF
0.58%
Performance fee
—
Gearing
—
Dividend yield
3.00%
| Period | Return | Benchmark | Vs |
|---|---|---|---|
| 1m | -0.1% | — | — |
| 3m | 3.4% | — | — |
| ytd | 4.6% | — | — |
| ytd | 5.4% | — | — |
| ytd | 4.0% | — | — |
| ytd | -3.3% | — | — |
| ytd | -4.2% | — | — |
| ytd | 10.8% | — | — |
| 6m | 4.6% | — | — |
| 1y | 7.7% | — | — |
| # | Holding | Sector | Country | Weight |
|---|---|---|---|---|
| 1 | Vanguard FTSE 100 ETF | — | — | 2.8% |
| 2 | North Atlantic Small Companies | — | — | 2.3% |
| 3 | UBS MSCI World ETF | — | — | 1.9% |
| 4 | JPMorgan Japan ETF | — | — | 1.8% |
| 5 | HICL Infrastructure | — | — | 1.4% |
| Index Linked Govt. Bonds | 48.0% | |
| Funds / Equities | 23.0% | |
| Nominal Govt. Bonds | 16.0% | |
| Corporate Credit | 10.0% | |
| Cash | 3.0% | |
| Gold | 0.0% |
| GBP | 61.0% | |
| USD | 30.0% | |
| EUR | 3.0% | |
| JPY | 3.0% | |
| Other | 3.0% | |
| SEK | 0.0% |
| Equities | 15.0% | |
| Infrastructure | 5.0% | |
| Property | 2.0% | |
| Loans | 1.0% |
| Portfolio yield | 3.42% |
| Unlisted holdings | — |
| Cash & equivalents | 2.67% |
| Total assets | £832.0m |
| Revenue reserves | £0 |
| Net gearing | 0.00% |
| Gross gearing | 0.00% |
| Net cash | £0 |
| Gearing range (from) | — |
| Gearing range (to) | — |
| Shares in issue | 16,840,441 |
| Shares issued | 0 |
| Shares purchased | 233,654 |
| Treasury shares | 9,739,822 |
During June, Capital Gearing Trust remained defensively positioned with a focus on inflation protection. Concerns remain around the outlook for increasing deficits, stretched equity valuations and elevated inflation. The portfolio returned 0.6% over the month. Key allocations are 23% to risk assets, 48% to inflation-linked bonds, and 29% to the managed liquidity reserve (cash, treasury bills and corporate credit). Risk assets made the largest positive contribution (0.4%) to performance during the course of the month.
Manager firm
CG Asset Management Limited
Manager(s)
Peter Spiller, Chris Clothier, Alastair Laing, Emma Moriarty, Hassan Raza, Jock Henderson
Structure
Flexible Investment
AIC sector
Flexible Investment
Domicile
United Kingdom
Base currency
GBP
Launched
1973-02-09
Latest factsheet
2026-06-30
Snapshot date
2025-08-31
Share price
517.00p
NAV / share
520.74p2026-10-16
Premium / discount
-0.72%
Fund size
£812m
OCF
0.58%
Performance fee
—
Gearing
—
Dividend yield
3.00%
| Period | Return | Benchmark | Vs |
|---|---|---|---|
| 1m | -0.1% | — | — |
| 3m | 3.4% | — | — |
| ytd | 4.6% | — | — |
| ytd | 5.4% | — | — |
| ytd | 4.0% | — | — |
| ytd | -3.3% | — | — |
| ytd | -4.2% | — | — |
| ytd | 10.8% | — | — |
| 6m | 4.6% | — | — |
| 1y | 7.7% | — | — |
| # | Holding | Sector | Country | Weight |
|---|---|---|---|---|
| 1 | Vanguard FTSE 100 ETF | — | — | 2.8% |
| 2 | North Atlantic Small Companies | — | — | 2.3% |
| 3 | UBS MSCI World ETF | — | — | 1.9% |
| 4 | JPMorgan Japan ETF | — | — | 1.8% |
| 5 | HICL Infrastructure | — | — | 1.4% |
| Index Linked Govt. Bonds | 48.0% | |
| Funds / Equities | 23.0% | |
| Nominal Govt. Bonds | 16.0% | |
| Corporate Credit | 10.0% | |
| Cash | 3.0% | |
| Gold | 0.0% |
| GBP | 61.0% | |
| USD | 30.0% | |
| EUR | 3.0% | |
| JPY | 3.0% | |
| Other | 3.0% | |
| SEK | 0.0% |
| Equities | 15.0% | |
| Infrastructure | 5.0% | |
| Property | 2.0% | |
| Loans | 1.0% |
| Portfolio yield | 3.42% |
| Unlisted holdings | — |
| Cash & equivalents | 2.67% |
| Total assets | £832.0m |
| Revenue reserves | £0 |
| Net gearing | 0.00% |
| Gross gearing | 0.00% |
| Net cash | £0 |
| Gearing range (from) | — |
| Gearing range (to) | — |
| Shares in issue | 16,840,441 |
| Shares issued | 0 |
| Shares purchased | 233,654 |
| Treasury shares | 9,739,822 |
During June, Capital Gearing Trust remained defensively positioned with a focus on inflation protection. Concerns remain around the outlook for increasing deficits, stretched equity valuations and elevated inflation. The portfolio returned 0.6% over the month. Key allocations are 23% to risk assets, 48% to inflation-linked bonds, and 29% to the managed liquidity reserve (cash, treasury bills and corporate credit). Risk assets made the largest positive contribution (0.4%) to performance during the course of the month.
