The Barmac investment process challenges conventional investment theory and practice, whilst acknowledging that sometimes "the crowd must be right".  Central to the investment process is our view that all markets are the same and are driven by liquidity, thus are essentially correlated.

As a result, Barmac reject the assertion that the way to reduce risk is to have a diversification of assets and that, in times of stress, we view the only places to invest are either in cash, very short dated government securities or gold.

This view may seem to be controversial but this is why Barmac have avoided the disasters of property investment, corporate bonds and equities which have been experienced since 2007.

In essence the Barmac view is, if markets are heading up then invest; if markets are heading down then invest in cash.  We believe this approach empathises with the views of many investors who have had to stomach large losses since 2007 and who were probably also damaged extensively between 2000 and 2003.

Barmac's investment process was designed some 15 years ago when we first identified that the extensive creation of credit globally was likely to cause a problem in the future.

Andrew Bartles and Andrew McCarthy's investment approach and style has delivered the returns with an element of safety for investors, particulary through the current highly volatile market and is testament to their rigorous investment management process.

To view The Castleton Growth Fund's performance .....click here