Royal London Asset Management
Royal London AM Global Equity Income Fund
Global Mega-cap Income
Jun 2026 → Sep 2026
Our archive holds 2 letters from this strategy, behind 4 investment theses and positions in 35 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 Inc GBP
- YTD+26.9%
- 1Y+26.9%
- 3Y · total+71.9%
- 5Y · total+108%
| YTD | 1Y | 3Ytotal | 5Ytotal | |
|---|---|---|---|---|
| Royal London AM Global Equity Income Fund | +26.9% | +26.9% | +71.9% | +108% |
Calendar years
- 2025+14.3%
- 2024+18.5%
- 2023+16.9%
- 2022+3.5%
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
Notable transactions during the quarter included the additions of Nike and ASML to the portfolio.
To help fund these purchases we sold holdings of three industrial companies: Shimadzu, Ebara and Paccar.
To help fund these purchases we sold holdings of three industrial companies: Shimadzu, Ebara and Paccar.
To help fund these purchases we sold holdings of three industrial companies: Shimadzu, Ebara and Paccar.
Notable transactions during the quarter included the additions of Nike and ASML to the portfolio.
we view this as an opportune moment to initiate a position in the fund.
We initiated the position in Lockheed Martin as part of efforts to protect capital in the event of prolonged heightened geopolitical tensions.
These trades, alongside some additions to energy and consumer-linked holdings, were funded through exiting our positions in Broadcom and Eli Lilly and by trimming a broad range of AI compute beneficiaries.
These trades, alongside some additions to energy and consumer-linked holdings, were funded through exiting our positions in Broadcom and Eli Lilly and by trimming a broad range of AI compute beneficiaries.
Also held
- NVIDIA Corporation
- JPMorgan Chase & Co.
- Hannover Rueck SE
- Lamb Weston Holdings Inc
- Meta
- HSBC Holdings PLC
- AbbVie, Inc.
- Shell
- Valero Energy
- BE Semiconductor Industries
- Suncor Energy
- PepsiCo Inc
- QUALCOMM Incorporated
- LVMH
- Merck & Co., Inc.
- Apple Inc.
- CME Group Inc. Class A
- Edenred
- Micron Technology, Inc.
- Alphabet Inc. Class A
- TSMC
- Taiwan Semiconductor Manufacturing Co., Ltd.
- Shell plc
- Cisco Systems, Inc.
- Alphabet Inc.
- Suncor Energy Inc.
- Microsoft Corporation
Its investment theses
- NikeSep 2026Nike, a leading sportswear brand, is a turnaround case resting on new management refocusing on innovation and retail partnerships to rebuild margins, supported by its brand strength.
- ASMLSep 2026ASML holds a unique position in semiconductor manufacturing via its lithography systems, with significant long-term growth prospects and a valuation the market undervalues relative to its earnings, cash flow and dividend growth potential.
- NVIDIA CorporationJun 2026NVIDIA Corporation is being added for its strong earnings, increasing capital returns, and an attractive entry point after multiple derating.
- Lockheed Martin CorporationJun 2026Lockheed Martin Corporation is held for capital protection, broad exposure to US and allied defence procurement, and an undemanding valuation with sustainable dividends.