Letters by company

Spirax-Sarco Engineering PLC/ADR

1 letter discussing SPXSF. Everything written about it on this site is on its ticker page.

Troy Asset Management Investment Report No. 75 Trojan Fund retained a low equity exposure after reducing risk assets during the 2021 bubble, while reassessing the concentration of prior winners such as Microsoft. The portfolio favors US index-linked bonds and gold protection, arguing that labour shortages and higher inflation volatility will keep the cost of capital above its recent regime. 2022 SPXSF $5.4B