Search Home Who we are Our strategy Shareholder centre Invest with us News & media Contact us Investment model Objectives Deliver FTSE All-Share outperformance over ten years and shorter term returns between RPI+3% and RPI+6% Pay an increasing annual dividend Manage investment risk consistent with long-term wealth generation Aims Grow Caledonia has grown 9.1% per year since 1987. Grow capital value and income over the long term, measured in inflation-adjusted terms. Pay The dividend has been increased each year for 54 years. Pay an increasing annual dividend, which grows at or in excess of inflation over the long term. Manage risk We hold a diverse portfolio of investments. Manage risk commensurate with shareholders’ requirements and our investment horizon. Asset classes We primarily invest in equities, on a global basis, to achieve our target returns. Investments are managed across three core competencies: Quoted Equity Split into two portfolios: Capital and Income. Global businesses with brand, IP and strong market positions that have long-term value, a good record of ROCE and a strong asset base. Find out more Targets Capital strategy 10% total return no yield target — Income strategy 7% total return 3.5% yield Strategic allocation 35-50% across both portfolios Private Capital Established UK mid-market businesses with robust operating margins, led by strong management teams targeting meaningful growth. Find out more Targets 14% total return 5% yield Strategic allocation 35-45% Funds Indirect investment through Asian and US based private equity funds. Find out more Targets 12.5% total return Strategic allocation 20-30% as at 30 September 2021 Caledonia differentiation – investing our balance sheet Gearing Corporate banking facilities support short-term liquidity requirements. Gearing only in investee companies Self-managed Not managing for fees Long-term outlook Looking beyond the next 10 years No arbitrary time constraints Time is our ally, not our impediment. Unlike most others, we are not hostage to fund cycles. We have the flexibility to hold our investments for as long as necessary, which means we sell only when the time is right for our shareholders Less volatility Volatility is less of an issue as long as our investment selection is good (i.e. temporary loss of market value, not permanent loss of value within company) – although it is still pertinent, especially for Quoted Equity Home Who we are Our strategy Shareholder centre Invest with us News & media Contact us Privacy & cookies policy Terms & conditions Modern slavery statement Tel: 020 7802 8080 Email: enquiries@caledonia.com © 2021 Caledonia Investments plc. Registered in England and Wales. Company number 00235481 Registered office: Cayzer House, 30 Buckingham Gate, London SW1E 6NN Our use of cookies We use cookies to optimise site functionality and give you the best possible experience. AcceptCookie Preferences