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Seneca funds added to James Hay Investment Centre

28 June 2016

Seneca Investment Managers (Seneca), the Liverpool based multi-asset value investment house, announces the availability of its two open-ended funds, the LF Seneca Diversified Income Fund and LF Seneca Diversified Growth Fund, on James Hay, the platform for retirement wealth planning. Over 56,000 James Hay clients will now have access to Seneca’s funds via James Hay’s Investment Centre.

Both funds are managed according to the principles of Seneca’s multi-asset value approach, offering investors a diversified portfolio of value-oriented holdings consisting of directly invested UK equities, managed overseas equities, fixed income, and specialist investments.

Steve Jackson, Head of UK Retail at Seneca Investment Managers, says: “A number of our IFA and wealth management partners have requested access to our funds through James Hay’s platform. Increasing recognition and strong performance have raised the profile of our offerings, and we are pleased that we can now meet that demand.”

Paul Bagley, Director of Distribution at James Hay, says: “We offer one of the widest investment ranges of any platform from cash and funds all the way through to third party DFMs, unquoted shares and commercial property. It’s great to be able to expand that choice still further at the request of advisers with the addition of these two funds.”

The LF Seneca Diversified Income Fund is a Dynamic Planner 5 profile linked fund, a Trustnet 4 crown rated multi-asset portfolio which aims to deliver a high and growing income with the potential to preserve the real value of invested capital. The fund has historically delivered a dividend yield of circa 5%*, with income paid out on a monthly basis.

The LF Seneca Diversified Growth Fund is a multi-asset portfolio combining tactical asset allocation with a mid-cap UK equity portfolio, a range of overseas, value orientated equity managers, significant exposure to specialist assets and modest holdings in fixed interest markets.

Ends

*The historic yield reflects distributions declared over the past twelve months as a percentage of the period end unit price. It does not include any preliminary charge and investors may be subject to tax on their distributions. The fund’s expenses are charged to capital. This has the effect of increasing the distribution(s) for the year and constraining the fund’s capital performance to an equivalent extent. Income has been paid monthly since July 2015.

 

For further information, please contact:

Four Broadgate

Roland Cross / Josh Voulters / Roya Abbasi

Telephone: +44 (0) 20 3697 4200

Email: SenecaIM@fourbroadgate.com

 

NOTES TO EDITORS:

Seneca Investment Managers

Seneca Investment Managers is based in Liverpool with a national client base. Investors range from institutions such as pension funds and charities, through to financial advisers, discretionary private client managers and personal investors. The firm specialises in multi-asset value investing.

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Seneca IM appoints new finance and operations manager

25 April 2016

Seneca Investment Managers (Seneca), the multi-asset value investment house based in Liverpool, has appointed David Binnion as Finance and Operations Manager, a newly created position, to support the growth of the firm.

In his role, David will act as a senior member of the Operations, Finance and Compliance Team.

David joins Seneca having over 15 years of experience in various financial, management and fund accounting roles in a number of sectors, including private equity, property and oil and gas. He spent five years with Greenpark Capital prior to their takeover by Stepstone Group and most recently, Bibby Financial Services.    

David Thomas, Chief Executive, Seneca Investment Managers, says:

“David has a long and successful track record with exceptional experience across all financial and operational aspects of the investment business. Seneca Investment Managers has made good progress in the past year and David’s appointment is another signal of intent in terms of Seneca’s drive for growth.”

Ends

 

For further information, please contact:

Four Broadgate

Roland Cross / Josh Voulters / Roya Abbasi

Telephone: +44 (0) 20 3697 4200

Email: SenecaIM@fourbroadgate.com

 

NOTES TO EDITORS:

Seneca Investment Managers

Seneca Investment Managers is based in Liverpool with a national client base. Investors range from institutions such as pension funds and charities, through to financial advisers, discretionary private client managers and personal investors. The firm specialises in multi-asset value investing.

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Seneca IM appoints new marketing manager

21 March 2016

Seneca Investment Managers, the multi-asset value investment house based in Liverpool, has appointed Cathy Growney as Marketing Manager to support the growth of the firm.

In her new role, Cathy will be managing all aspects of the marketing function of Seneca IM, to develop and deliver messaging around Seneca IM, its investment process and products with regard to all Seneca stakeholders and the wider financial community.

Cathy joins Seneca Investment Managers from JLT Employee Benefits, where she spent 13 years and most recently served as a Consultant with responsibility for all marketing aspects of the investment consulting team. She previously held managerial consultancy positions at BWD Rensburg and Dresdner RCM Global Investors.

David Thomas, Chief Executive, Seneca Investment Managers, says:

“Catherine has exceptional experience across all operational and marketing aspects of the investment business. It’s great to have Catherine on board, driving the marketing strategy for the ongoing growth of our range of multi asset funds and multi asset investment trust.”

Ends

 

For further information, please contact:

Four Broadgate

Roland Cross / Roya Abbasi

Telephone: +44 (0) 20 3697 4200

Email: SenecaIM@fourbroadgate.com

 

NOTES TO EDITORS:

Seneca Investment Managers

Seneca Investment Managers is based in Liverpool with a national client base. Investors range from institutions such as pension funds and charities, through to financial advisers, discretionary private client managers and personal investors. The firm specialises in multi-asset value investing.

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Historic company documents

14 October 2015

Report and accounts

 

Press releases and announcements

2015

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2011

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Glossary

2 October 2015

We have tried to avoid the use of technical jargon on the Seneca IM website, however due to the nature of our business some investment terminology is necessary to describe what we do. We have put together this glossary to explain some of the terms we think might need further clarification. If there is anything within this document or anywhere else on the website that you are not sure of, please get in touch and we will be happy to help.

Active Management

There are two main types of investment management: active management and passive management. We at Seneca are an active management company. Active management means that investment decisions are based on the judgment of fund managers (as opposed to passive management where decisions are made systematically). ‘Judgment’ means that our fund managers use analytical research, forecasts, and their own experience to make investment decisions with respect to which securities to buy, hold and sell.

Specialist assets

Specialist or non-traditional assets are investments other than shares or bonds. They are called ‘specialist’ because they represent an specialist to traditional assets such as shares or bonds. The term can cover anything from property and commodities to infrastructure investments, for example, covering green energy, or leasing businesses which specialise in aeroplanes or plant and machinery. We use specialist assets to help diversify a portfolio, as some of these investments are not expected to move in tandem with more conventional investments for much of the time.

Asset class

This is how different types of investments are grouped together, such as company shares, bonds, commodities or commercial property.

Benchmark

A benchmark is something against which the performance of our funds can be measured or judged. This ‘something’ could be a stock market index, an index comprised of the performance of competitor funds, or a fixed performance hurdle such as 5% per annum.

Bonds

Issued by companies or governments, these are a kind of debt and are typically designed to pay interest, which is sometimes fixed and sometimes variable.

Bull Market

The phase of a financial market in which prices are rising over a sustained period, generally more than a few months.

Bear Market

The phase of a financial market in which prices are falling over a sustained period, generally more than a few months.

Capital growth

The return from any investment is comprised of two parts: income and capital growth. In the case of an investment property, rental income would be considered income while the appreciation in the value of the property would be considered capital growth. Capital growth generally refers to the appreciation in value in the underlying investment, whether shares, bonds, or property.

Coupon

The interest rate paid by a bond.

CPI

The Consumer Price Index, which is a measure of UK inflation.

Diversification

Diversification refers to the principle of ‘not putting all your eggs in one basket’. In other words, it means investing in a variety of investments and thus not being excessively exposed to the risk of a single investment falling sharply in value. Diversification can be achieved using different assets, funds and geographic regions.

Equities

Another name for shares in a company.

General Investment Account (GIA)

A way to hold investments outside of tax wrappers such as pensions or ISAs. They do not offer tax relief, but have few limitations.

Individual Savings Account (ISA)

An individual savings account allowing individuals to hold cash, shares, and funds free of tax on dividends, interest, and capital gains. Investors can put in up to a maximum amount in each tax year.

Investment Themes

An investment theme refers to some sort of broad issue or factor that is influencing markets or certain parts of markets in some way. One example would be ‘demography’, the study of populations, specifically human populations. Growth in populations, aging of populations or movement of people would have ramifications either for particular markets, sectors or individual companies. Understanding how investment themes impact markets and their components helps to improve investment decision making.

Libor

The London Interbank Offered Rate is a reference interest rate widely used in financial markets as a basis for lending rates or an indication of the return available on cash.

Market Capitalisation

This refers to the size of a company in terms of the total value of its shares (other ways of measuring the size of a company might be in terms of total revenue or total assets). To calculate current market cap, one simply multiplies the total number of shares in issue with the current share price.

Mid Cap

The term “Mid Cap” is a reference to a medium-sized listed company. Exactly how big a company should be to qualify as a mid-cap varies from market to market. For example, mid-caps might mean companies whose market capitalisation is between £500 million and £1 billion.

Multi-asset Fund

A fund that invests in more than one asset class. A simple multi-asset fund would be one that invested just in equities, bonds and cash. A more complicated multi-asset fund might also include specialist assets.

Self-Invested Personal Pension (SIPP)

A pension plan that allows the holder to choose and manage the investments made.

Strategic Asset Allocation

Strategic asset allocation can be thought of as the broad allocation to each asset class that would be expected to achieve the investment performance objective over time. For example, a simple multi-asset fund might have a strategic asset allocation of 60% global equities and 40% global bonds. Given an understanding of how global equities and global bonds would be expected to behave over the longer term, one would have an understanding of how the fund should behave over the longer term as a result of exposure to bonds and equities in the proportions mentioned.

Systemic returns

The return from any investment is comprised of a systemic return and an idiosyncratic return. Systemic returns are ones that are common to more than one company while idiosyncratic returns are returns that are unique to one company. For example, the rise in shares of exporters that is the result of depreciation of Sterling would be systematic. While the fall in the shares of company ABC plc due the resignation of the CEO would be idiosyncratic.

Tactical Asset Allocation

Tactical asset allocation is generally used in conjunction with strategic asset allocation. Tactical asset allocation refers to decisions to deviate from time to time from strategic asset allocation. Using the example cited, this might mean a decision to have only 50% in equities rather than the strategic allocation of 60% because one might have a slightly negative view on the outlook for equities.

Typical investment cycle

Investment cycles tend to last anywhere between five and 10 years and are in synch with business cycles, which themselves comprise an economic expansion phase and an economic contraction (recession) phase (according to the Bank of England, the typical cycle length in the UK since 1701 has ranged from 5.1 to 8.5 years). A “typical” investment cycle is defined as one in which various asset classes produce total real returns over the entire cycle that are broadly in line with their historic long-term average real returns. It should be noted that there may be investment cycles during which returns from various asset classes are much lower than would typically be expected given historic long-term averages.

Undervalued

The term ‘undervalued’ is used to describe an investment that is cheap in relation to some or other measurement. The measurement could be an objectively derived measure of the value of the investment in question such as breakup value (how much cash shareholders would receive if the company was broken up) or related to the sector in which the investment sits (a company might be considered undervalued if it was yielding more than the sector average).  There are many ways of valuing assets.

Volatility

This is a term used to describe the frequency and severity with which the price of an investment goes up and down.

Yield (income)

The amount of income you receive in monetary terms will be equivalent to the dividend per share multiplied by the number of shares you own. This is usually expressed annually as a percentage based on the investment’s market value.

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Personal investor mailing list

27 August 2015

We’d be delighted to keep you in touch with what we do. Just tick the boxes on the communication you would like to receive and press send. We will add you to our mailing list as soon as we can.


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Make an Investment

17 August 2015

You can make a direct investment in the LF Seneca income and growth funds through Link Fund Solutions. The Seneca Global Income & Growth Trust plc is fully quoted on the London Stock Exchange and shares can be bought directly in the market, or through many stockbrokers. Our investment products are also available through a wide range of online investment portals.

All of our investment products are suitable for general investment accounts (GIA), individual savings accounts (ISA), self-invested personal pensions (SIPP), other pensions and most other tax wrappers. To make an investment please follow the guide below. 

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Seneca Global Income & Growth Trust plc

17 August 2015

The Seneca Global Income & Growth Trust plc is designed for investors who wish to combine the benefits of a quarterly income with long term capital growth. Over a typical investment cycle, the trust will seek to achieve a total return of at least CPI + 6% per annum after costs with low volatility, and with the aim of growing aggregate annual dividends at least in line with inflation through the application of a Multi-Asset Investment Policy. The emphasis is on low volatility with the prospect of income and capital growth, through investing in a multi-asset portfolio.

The trust is managed in keeping with our multi-asset value investing approach. Assets held include UK and overseas equities, fixed interest, specialist investments and property. We believe that our value investing ethos holds out the prospect of superior long term returns.

 


Performance

SIGT Table

 

Source: SenecaIM, Bloomberg & Morningstar. Share prices calculated on a total return basis with net dividends reinvested.
NAV returns based on NAVs excluding income and with debt valued at par. Returns do not include current year revenue.

Benchmark: LIBOR GBP 3 Months +3% to 06.07.17 thereafter CPI +6% after costs.

Past performance is not a guide to future returns. The value of investments and any income may fluctuate and investors may not get back the full amount invested.

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LF Seneca Diversified Income Fund

17 August 2015

For many personal investors, there is a real need for good income-generating investments. The LF Seneca Diversified Income Fund is a multi-asset portfolio aiming to deliver a high and growing income with the potential to preserve the real value of invested capital. The fund has historically delivered a dividend yield of circa 5%*, with income now paid out on a monthly basis.

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