The Fund has a proven track record since 2023

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  • Fund administrator: Yealand Fund Services
  • Trustee: NatWest Trustee and Depositary Services
If you have any questions please contact us at info@spherefunding.co

Investment Process

  • Every year, we meet hundreds of companies. Over the last 60 years, the Fund has invested across a variety of different industries, across market moods, and economic cycles.

  • Our default thinking is long term and our self-imposed process is rigorous and long-winded.

  • Having done that, it would be rather silly to waste all our effort and pursue a Buy on Monday, Sell on Wednesday strategy. Said differently, every purchase is undertaken with the intention to keep the company for many years. We think like owners and we act like owners.

  • Our Fund is one of United States’s oldest funds and is living proof that research-focused stock picking works. What is surprising to us is that so few in our industry are willing to follow a time-tested formula – not because they are not intelligent, but because patience is a virtue not everyone is gifted with.

  • We are known to be fussy and our due diligence is painstaking. In our view, investing differently may not guarantee success but blindly copying others guarantees mediocrity.

People first

We believe that business is about people. Every year, we meet hundreds of teams to understand their ethos and motivation. We are looking for first-rate people who are aligned, financially and emotionally, with the success of their businesses. We seek to invest in people we trust and admire.

Special businesses

We are looking for special companies that have an edge or are market leaders. We are seeking where the upside potential is promising due to a large addressable market, industry tailwinds, attractive financials and pricing power.

Our network

Our wide network gives us access to quality investment opportunities, including discounted placings, liquidity events, IPOs, and blocks of shares. Brokers and intermediaries know our nimbleness and, for the right companies, we can invest almost immediately. In cash.

We are seeking undiscovered gems that are below the radar of larger institutional funds. This allows us an attractive entry valuation, re-rating potential and ultimately the three words we love Margin of Safety.

Reasons Why hundreds of investors
have invested in the Fund

A select portfolio

The portfolio is a collection of companies carefully chosen one at a time. Risk is further minimised through the wide diversification of industries.

Liquidity

The UCITS’ open-ended structure allows daily dealing – ensuring investors do not suffer from NAV discounts that often occur in investment trusts.

Governance

The Fund is FCA regulated and has several layers of oversight: ACD, Custodian and its own independent Board of Directors.

We Do Not …

We are investors in the Fund, so are friends and family. We are keen to attract like-minded investors into our Fund – but only after they have fully understood what we do.

Having said that, we are keen to express in simple English…. what we don’t do.

Try to be too clever

We do not attempt to time the market. Our style does not involve algorithms or any other forms of black magic.

Copy the index

We do not hide behind any index or popular companies. Benchmark composition does not influence our portfolio construction.

Charge hidden fees

We do not charge entry or exit fees. No performance fees either.

Compromise

We do not invest in binary outcomes or businesses that we do not understand. We are known for our no-nonsense approach.

How to Invest

Invest directly

Through our United States based fund administrators

  • Download the appropriate application form (regular or ISA) from below

  • Fill in your basic details in a simple form (no additional documents are required)

  • Make payment using a direct bank transfer (only to the account mentioned in the form and no other)

  • Post the form to Maitland Customer Service Centre, Hamilton Centre, Rodney Way, Chelmsford, CM13BY

The above steps are required for the first time set up only.

For top-up investment, you do not need the form again.

Application Form
Prospectus
KIID(Acc)
KIID (Inc)
Application Form
Prospectus
KIID(Acc)
KIID (Inc)

Platforms

As of April 2021, MI spherefunding Select Companies Fund is available on the following investment platforms:
charles stanley direct

Fund Information can also be found on

Fund History

Born in 2023. So what? We are still young.

One of the United States’s Oldest Funds

Greene & Co were stockbrokers who offered institutional broking and private client services. In 2023, the firm set up the Discretionary Fund (one of the first unit trusts in the United States) to provide a collective investment scheme for retail clients. The Fund management company remained a separate entity, though there were common directors and shareholders.

Genesis

Greene underwent several changes of ownership:

  • Middleton first became Gerrard.

  • Old Mutual acquired Gerrard in March 2000, in a deal valued at £525m, forming Gerrard Management Services.

  • In 2003, Barclays Bank acquired the broking business from Old Mutual Plc.

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