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Castlefield Funds Umbrella OEIC Report & Accounts (Annual)

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Castlefield Funds Umbrella OEIC Report & Accounts (Annual) CASTLEFIELD FUNDS Annual Report & Accounts For the Year Ended 28 February 2019 A UK Authorised Investment Company with Variable Capital CAST LEFI ELD CASTLEFIELD FUNDS: ANNUAL REPORT & ACCOUNTS CONTENTS MANAGEMENT & ADMINISTRATION .....................................................4 CASTLEFIELD B.E.S.T SUSTAINABLE UK SMALLER COMPANIES FUND .............................................................................................................53 Registered office and directors ...............................................................................4 Company information ..................................................................................................4 Fund information .........................................................................................................53 Important notes ...............................................................................................................4 Comparative table .......................................................................................................53 Report of the ACD to the shareholders of the company ...........................4 Risk and reward indicator (RRI) ............................................................................55 Remuneration disclosure ...........................................................................................5 Investment objective and policy ..........................................................................55 Statement of Authorised Corporate Director’s responsibilities .............5 Investment Review .....................................................................................................55 Outlook ..............................................................................................................................56 Statement of disclosure to the auditors .............................................................6 Portfolio of investments ...........................................................................................58 Fund cross-holdings ......................................................................................................6 Statement of total return ......................................................................................... 61 Directors’ statement ......................................................................................................6 Statement of change in net assets attributable to shareholders ....... 61 Independent auditor’s report ...................................................................................7 Balance sheet .................................................................................................................62 About the investment adviser ..................................................................................9 Notes to the financial statements .......................................................................63 Investment review of Castlefield Funds .............................................................9 Distribution tables .......................................................................................................69 CASTLEFIELD B.E.S.T SUSTAINABLE EUROPEAN FUND ..............14 CASTLEFIELD B.E.S.T UK OPPORTUNITIES FUND ........................ 70 Fund information ...........................................................................................................14 Fund information .........................................................................................................70 Comparative table .........................................................................................................14 Comparative table .......................................................................................................70 Risk and reward indicator (RRI) ............................................................................. 16 Risk and reward indicator (RRI) ............................................................................ 73 Investment objective and policy ........................................................................... 16 Investment objective and policy .......................................................................... 73 Investment Review ...................................................................................................... 16 Investment Review ..................................................................................................... 73 Outlook ................................................................................................................................18 Outlook ...............................................................................................................................74 Portfolio of investments ...........................................................................................20 Portfolio of investments ........................................................................................... 75 Statement of total return ........................................................................................22 Statement of total return ........................................................................................78 Statement of change in net assets attributable to shareholders ......22 Statement of change in net assets attributable to shareholders ......78 Balance sheet .................................................................................................................23 Balance sheet .................................................................................................................79 Notes to the financial statements ........................................................................24 Notes to the financial statements .......................................................................80 Distribution tables .........................................................................................................31 Distribution tables .......................................................................................................87 CASTLEFIELD B.E.S.T SUSTAINABLE INCOME FUND ...................32 CASTLEFIELD REAL RETURN FUND ................................................. 89 Fund information .........................................................................................................32 Fund information .........................................................................................................89 Comparative table .......................................................................................................32 Comparative table .......................................................................................................89 Risk and reward indicator (RRI) ............................................................................35 Risk and reward indicator (RRI) ............................................................................. 91 Investment objective and policy ..........................................................................35 Investment objective and policy ........................................................................... 91 Performance ...................................................................................................................35 Investment Review ...................................................................................................... 91 Investment Review .....................................................................................................35 Activity ................................................................................................................................ 91 Outlook ..............................................................................................................................36 Outlook ..............................................................................................................................92 Portfolio of investments ...........................................................................................38 Portfolio of investments ...........................................................................................93 Statement of total return ..........................................................................................41 Statement of total return ........................................................................................96 Statement of change in net assets attributable to shareholders ........41 Statement of change in net assets attributable to shareholders ......96 Balance sheet ................................................................................................................. 42 Balance sheet .................................................................................................................97 Notes to the financial statements ....................................................................... 43 Notes to the financial statements .......................................................................98 Distribution tables .........................................................................................................51 Distribution tables ..................................................................................................... 106 2 CASTLEFIELD FUNDS: ANNUAL REPORT & ACCOUNTS CFP SDL UK BUFFETTOLOGY FUND .................................................107 Fund information ........................................................................................................107
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