Kepler Trust Intelligence provides non-substantive material and analysis. Under MiFID II these constitute a minor non-monetary benefit and are provided free of charge.
Our aim is to create a library of high quality investment strategy articles and fund analysis all written in-house by experienced analysts on the investment companies team at Kepler Partners.
We are focused entirely on investment trusts, however we believe that it helps to understand them better if they are placed on a level playing field with OEICs, so you will see comparisons between the two in these pages often.
Our content falls into three categories:
- Investment strategy articles are designed to highlight opportunities and developments which are of interest to investment trust investors, positive or negative.
- Fund analysis focuses on individual trusts, examining them in detail to create a snapshot picture which you can use to decide whether or not you want to invest in them.
- Sponsored content appears where an asset management group or investment trust has paid to place a piece of content into the site. This will be clearly marked with the sponsor's logo and a byline attributing the content to the sponsor.
We do not produce huge volumes of material. Our focus is on quality, not quantity, so we are unlikely to publish more than four or five articles in a given week. For this reason we recommend that you join our mailing list, and we'll send you an email once a month alerting you to what’s new on the site. We won’t sell your details, and we won’t spam you with useless updates.
How are we funded?
Kepler Trust Intelligence is funded entirely by the providers of investment trusts, and is made available freely to any person (professional or private individual) who wants to access it. We clearly disclose all of our relationships, but our research is either paid for directly by specific trusts and their boards, or more generally by the larger asset management groups who pay to have adverts and advertorial. As a result, all of our research should be considered “non-independent” and readers should consider it as marketing.
All of our clients are keen to keep their trusts “on radar” with wealth managers. There is generally less “centralised” coverage of investment trusts as wealth managers get bigger and bigger, and at the same time there is an increasing burden on wealth managers to prove they are keeping “on top” of trusts they hold. We believe our website and research serves as a useful purpose in this regard.
As we mention above, all of this content is freely available to anyone. We run two versions of the site – this one which is for professionals and a separate one for private investors. The professional site requires readers to volunteer the name of the company they work for and the city / region – so that from a compliance perspective we can be satisfied that all readers really are a professional.
At Kepler Partners we are focused on the needs of the private client fund management community, and we understand that investment trusts are only one of the options available to readers of our research. For this reason, wherever possible we seek to show investment trusts on a level playing field with unit trusts and OEICs, especially in performance terms.
We believe investment trusts, as more and more of them move to capitalise on their structural advantages - gearing, the ability to smooth dividends, and the ability to manage their own liquidity, among them - are on the front foot, and we hope that you find our research as interesting and exciting to read as we have found it to write.
Welcome to Kepler Trust Intelligence.
Our disclaimer in full
Material produced by Kepler Trust Intelligence should be considered a marketing communication, and is not independent research.
This report has been issued by Kepler Partners LLP for communication only to eligible counterparties and professional clients as defined by the Financial Conduct Authority. Its contents are not directed at, are not to be communicated to, may not be suitable for and must not be relied on by retail clients.
The information provided on this website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Kepler Partners LLP to any registration requirement within such jurisdiction or country. Persons who access this information are required to inform themselves and to comply with any such restrictions.
This is a marketing document, should be considered non-independent research and is subject to the rules in COBS 12.3 relating to such research. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research. The information contained in this website is not intended to constitute, and should not be construed as, investment advice. No representation or warranty, express or implied, is given by any person as to the accuracy or completeness of the information and no responsibility or liability is accepted for the accuracy or sufficiency of any of the information, for any errors, omissions or misstatements, negligent or otherwise. Any views and opinions, whilst given in good faith, are subject to change without notice.
This is not an official confirmation of terms and is not a recommendation, offer or solicitation to buy or sell or take any action in relation to any investment mentioned herein. Any prices or quotations contained herein are indicative only.
Kepler Partners LLP (including its partners, employees and representatives) or a connected person may have positions in or options on the securities detailed in this report, and may buy, sell or offer to purchase or sell such securities from time to time, but will at all times be subject to restrictions imposed by the firm’s internal rules.
Please remember that past performance is not necessarily a guide to the future. The value of investments can fall as well as rise and you may get back less than you invested when you decide to sell your investments.
Independent financial advice should be taken before entering into any financial transaction. This website is published solely for informational purposes and has no regard to the specific investment objectives, financial situation or particular needs of any person.
PLEASE SEE ALSO OUR TERMS AND CONDITIONS
A copy of the firm’s conflict of interest policy is available on request.
Kepler Partners LLP is a limited liability partnership registered in England and Wales at 9/10 Savile Row, London W1S 3PF with registered number OC334771.
Kepler Partners LLP is authorised and regulated by the Financial Conduct Authority.
This website is aimed only at providing information to professional investors. Kepler Partners LLP is not permitted to conduct investment business in the United Kingdom with retail clients and accordingly such persons should not access this website.
No information or opinions contained in this site constitute a solicitation or inducement by Kepler Partners LLP to buy, sell or subscribe for any securities mentioned herein or to provide any investment advice or service. Information on this Website may or may not have been prepared by Kepler Partners LLP, but is made available without responsibility on the part of Kepler Partners LLP, who neither assumes nor accepts any responsibility or liability (including for negligence) in relation thereto. No action should be taken or omitted to be taken in reliance upon information on this website.
Opinions expressed are subject to change at any time. The material is based upon information which is considered reliable, but no representation is made as to accuracy, completeness or timeliness, and should not be relied upon. Past performance is not an indication of future performance. This document is a marketing communication under FCA rules and has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.
Kepler Partners LLP reserves the right to change the information available on this Website without notice and expressly disclaim any obligation to keep the information on this Website up-to-date, free of errors or viruses or to maintain uninterrupted access. Kepler Partners LLP may stop producing or updating any part of this Website without notice.
United States persons (as defined in “Regulation S” of the US Securities Act of 1933) and persons who are residents of the United States of America may not use this website. Information on this website may not be forwarded to any entity in the United States of America. Furthermore, the contents of this site are not intended for distribution to, or use by, any individual or entity in any jurisdiction where their distribution or use would be contrary to local law or regulation or which would subject Kepler Partners LLP to registration with the jurisdiction.
You should be aware that any rules and/or regulations applicable to providing financial services (and the resultant investor protections that may be available), may not apply to persons who obtain information from the internet and its various applications, of which this material forms part.