BlackRock Throgmorton Trust Upgraded

Morningstar senior analyst David Holder explains why BlackRock Throgmorton Trust has been upgraded from Neutral to Bronze

David Holder 4 July, 2019 | 2:44PM
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Dan Whitestone was appointed sole portfolio manager of BlackRock Throgmorton Trust (THRG) in February 2018 after taking over from the veteran Mike Prentis. He is head of the UK Emerging Companies desk and co-head of the broader UK equities team at BlackRock. In addition to this fund he has managed a successful hedge fund since March 2015.

The investment focus is across the full gamut of UK mid and smaller companies (including those listed on Aim) with the flexibility to also invest up to 15% overseas with the aim of providing long term total returns. The investment process focuses on identifying companies with high quality management, strong market positions, good cash generation and robust balance sheets. The long term and underappreciated sustainability of these companies' returns are enabled via enhanced pricing power driven by strong brands, intellectual property and high barriers to entry. 

An interesting and relatively unique area of differentiation from peers is that through meeting with over 750 companies a year Whitestone has the ability to both go long good quality growth companies and short those whose business model is significantly impaired through company specific factors, or by dint of being in structurally challenged areas of the economy. The shorting element is modest overall but given Whitestone’s hedge fund experience he is uniquely placed to make use of this additional string to his bow.

BlackRock Throgmorton Trust has successfully navigated into a new era under the sole management of the impressive Dan Whitestone, which has resulted in an upgrade of its Morningstar Analyst Rating to Bronze, from Neutral.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
BlackRock Throgmorton Trust Ord628.00 GBX-2.03Rating

About Author

David Holder  is a senior investment research analyst at Morningstar

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