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Downing LLP (DOW)

Downing Monthly Income Fund Presentation at MELLO London November 2018

09 December 2018

Downing Monthly Income Fund presentation at Mello London 2018

By James Lynch, Fund Manager


Covering the key points of the fund, and how they do it

  • Top quartile yield: the fund is committed to providing a market and sector beating yield.
  • High conviction portfolio: 30 – 40 holdings allow best ideas to drive performance.
  • Risk-adjusted portfolio construction: with our bottom-up approach, we believe we have a full understanding of our investments. Strong balance sheets, good cash generation and efficient operations reduce risk.
  • Value-led: we aim to buy businesses at attractive valuations, to improve returns and protect against downside risk.
  • Multi-cap approach: the fund applies Downing’s small-cap expertise across a range of UK market capitalisations.
  • Distributions: income is paid monthly.


Duke Royalty (DUKE) – 00:27

Downing Monthly Income Fund – 01:21

Market backdrop – 01:31

Philosophy – 05:16

The positions: Adept Technology (ADT) – 07:50

Photo-Me International (PHTM) – 11:19

Maintel Holdings (MAI) – 14:29

Lock ‘nStore Group (LOK) – 17:14

Summary about Downing Monthly Income – 19:02


Q&A – 21:07


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