Royal London Asset Management
Royal London AM Global Equity Diversified Fund
Global Mega-cap
Jun 2026 → Sep 2026
Our archive holds 2 letters from this strategy and positions in 42 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in a year · follow all of Royal London Asset Management for every strategy.
Performance
as of Sep 30, 2026 · net of fees · GBP · M Acc GBP
- YTD+19.4%
- 1Y+19.4%
- 3Y · total+63.9%
- 5Y · total+86.5%
| YTD | 1Y | 3Ytotal | 5Ytotal | |
|---|---|---|---|---|
| Royal London AM Global Equity Diversified Fund | +19.4% | +19.4% | +63.9% | +86.5% |
Calendar years
- 2025+13.9%
- 2024+20.5%
- 2023+15.3%
- 2022−1.3%
Disclaimer
These figures are copied from the manager’s latest letter, as of Sep 30, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.
Read full disclosures →What it bought and sold
We took profits in SK Hynix, Goldman Sachs, and United Rentals.
We took profits in SK Hynix, Goldman Sachs, and United Rentals.
We diversified the portfolio’s memory and storage exposure during a period of rapid innovation, reducing SK Hynix and Micron to fund the purchase.
We initiated a position in ASML.
The other notable transaction was the initiation of a small position in Nike, which has been one of the highest-profile underperformers in its sector in recent years and is being purchased as an early-stage turnaround opportunity.
We also started a position in Seagate Technology as we believe the market underappreciates the duration of demand for its hard disk drives and its pricing power.
Examples include Bloom Energy, which is a ‘right place, right time’ beneficiary of acute energy grid constraints.
We took advantage of this opportunity to establish a position, funding it through reductions in TSMC, Micron and Applied Materials.
We diversified the portfolio’s memory and storage exposure during a period of rapid innovation, reducing SK Hynix and Micron to fund the purchase.
We took advantage of this opportunity to establish a position, funding it through reductions in TSMC, Micron and Applied Materials.
We also initiated a position in QXO, taking advantage of share price weakness to gain exposure to what we believe could become a leading consolidator in the highly fragmented building products distribution market.
Funding for these purchases came from several lower-conviction holdings including Flutter Entertainment, Comcast, Church & Dwight, BJ's Wholesale Club and Tyson Foods, where we believe capital can be allocated more effectively elsewhere.
We increased the portfolio's exposure to specific parts of the AI infrastructure theme through purchases of Nebius Group and Arm Holdings.
We increased the portfolio's exposure to specific parts of the AI infrastructure theme through purchases of Nebius Group and Arm Holdings.
We added to Cisco Systems, Lumentum Holdings and Hannover Re, reflecting improving conviction in their respective wealth creation outlooks and attractive valuation support.
Within industrials, we switched part of our position from Volvo into Daimler Truck.
Funding for these purchases came from several lower-conviction holdings including Flutter Entertainment, Comcast, Church & Dwight, BJ's Wholesale Club and Tyson Foods, where we believe capital can be allocated more effectively elsewhere.
We added to Cisco Systems, Lumentum Holdings and Hannover Re, reflecting improving conviction in their respective wealth creation outlooks and attractive valuation support.
Funding for these purchases came from several lower-conviction holdings including Flutter Entertainment, Comcast, Church & Dwight, BJ's Wholesale Club and Tyson Foods, where we believe capital can be allocated more effectively elsewhere.
We also trimmed TSMC following a period of strong share price performance, although it remains a significant active position within the portfolio.
Funding for these purchases came from several lower-conviction holdings including Flutter Entertainment, Comcast, Church & Dwight, BJ's Wholesale Club and Tyson Foods, where we believe capital can be allocated more effectively elsewhere.
- TrimmedVolvo ABJun 2026
Within industrials, we switched part of our position from Volvo into Daimler Truck.
We added to Cisco Systems, Lumentum Holdings and Hannover Re, reflecting improving conviction in their respective wealth creation outlooks and attractive valuation support.
Funding for these purchases came from several lower-conviction holdings including Flutter Entertainment, Comcast, Church & Dwight, BJ's Wholesale Club and Tyson Foods, where we believe capital can be allocated more effectively elsewhere.
Also held
- Alphabet Inc. Class A
- Apple Inc.
- BE Semiconductor Industries
- Visa Inc. Class A
- Vertiv Holdings
- Microsoft Corporation
- NVIDIA Corporation
- Intel
- JPMorgan Chase & Co.
- Shell
- Amazon.com, Inc.
- Halozyme Therapeutics
- Eli Lilly and Company
- Valero Energy
- Broadcom Inc.
- EQT Corp
- Micron Technology, Inc.
- Intel Corporation
- Alphabet Inc.