Capital Gearing Trust PLC
Capital Gearing Trust's (CGT) goal is to preserve and grow shareholders' wealth over time. CGT seeks long-term absolute returns through a global portfolio of equities, bonds, and commodities, using a low-cost approach without the use of gearing or short selling. Since 2015, CGT's discount control policy ensures the share price closely tracks the Net Asset Value (NAV) per share by issuing or purchasing shares as needed.
Cumulative performance
| Period | Trust |
|---|---|
| 1M | -0.10% |
| 3M | +3.40% |
| 6M | +4.60% |
| YTD | +4.60% |
| YTD | +5.40% |
| YTD | +4.00% |
| YTD | -3.30% |
| YTD | -4.20% |
| YTD | +10.80% |
| 1Y | +7.70% |
Top holdings
| # | Holding | Weight | |
|---|---|---|---|
| 1 | Vanguard FTSE 100 ETF | 2.80% | |
| 2 | North Atlantic Small Companies | 2.30% | |
| 3 | UBS MSCI World ETF | 1.90% | |
| 4 | JPMorgan Japan ETF | 1.80% | |
| 5 | HICL Infrastructure | 1.40% |
Portfolio breakdown
| Index Linked Govt. Bonds | 48.00% | |
| Funds / Equities | 23.00% | |
| Nominal Govt. Bonds | 16.00% | |
| Corporate Credit | 10.00% | |
| Cash | 3.00% | |
| Gold | 0.00% |
| GBP | 61.00% | |
| USD | 30.00% | |
| EUR | 3.00% | |
| JPY | 3.00% | |
| Other | 3.00% | |
| SEK | 0.00% |
| Equities | 15.00% | |
| Infrastructure | 5.00% | |
| Property | 2.00% | |
| Loans | 1.00% |
Key facts
- Stock market ticker
- CGT
- ISIN
- GB0001738615
- Currency
- GBP
- Domiciled in
- United Kingdom
- Launched
- 9 Feb 1973
- Market value of shares
- £796.0m
- Management fee
- 0.60%
- Dividends paid
- Annual
What the manager said
During June, Capital Gearing Trust remained defensively positioned with a focus on inflation protection. Concerns remain around the outlook for increasing deficits, stretched equity valuations and elevated inflation. The portfolio returned 0.6% over the month. Key allocations are 23% to risk assets, 48% to inflation-linked bonds, and 29% to the managed liquidity reserve (cash, treasury bills and corporate credit). Risk assets made the largest positive contribution (0.4%) to performance during the course of the month.
Source factsheets
| Date | Published by the trust |
|---|---|
| 30 Jun 2026 | View original factsheet ↗ |
| 31 May 2026 | View original factsheet ↗ |
| 30 Apr 2026 | View original factsheet ↗ |
| 31 Mar 2026 | View original factsheet ↗ |
| 10 Jul 2025 | View original factsheet ↗ |