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Our fund

Our award-winning IFSL Hathaway Fund was started in 2002 to provide smaller investors the chance to enjoy access to our value investing philosophy alongside larger clients and institutions.
Graham A J Englefield FSI Head of Investments Born in 1962 and educated at the Universities of Warwick and Salamanca in Spain, Graham is both a solicitor and Fellow of the Chartered Institute of Securities & Investment. Graham has been managing investments professionally for 35 years and has an enviable performance record for private clients, charities and smaller institutions. He has been the lead manager on the IFSL Hathaway Fund since its launch. Instrumental in establishing value investing as the driving philosophy behind Hathaway’s approach, Graham’s remaining energy is spent running and he competes several times a year in long-distance events.
Graham R Shaw FSI CFA Investment Analyst Born in 1973, Graham obtained a first in engineering from Kings College, London before completing the highest level investment qualifications in record time. He is now a Fellow of The Chartered Institute of Securities & Investment, having won an award for outstanding results in the Diploma examinations. Previously an investment banker in the City, Graham had his own investment advisory practice prior to joining Hathaway and brings multi- disciplinary skills to the team. Graham works on developing portfolios and investment research. He’s a high-flier out of the office too, licensed to pilot three types of Boeing airliner.

About Hathaway

Hathaway began life as the Investment Management

Department of Shakespeares Solicitors providing managed

portfolio services to the firm’s private clients and trusts.

Hathaway commenced trading in May 2000 and the team

continue to strive to ensure that Hathaway remains true to its

original goals; to provide its clients with bespoke portfolios and a

personal service often absent in our industry.

We cherish our independence and are proud to have flourished in such a competitive industry for 20 years.
Following the success of our value-based approach to investing for our clients, we launched the MFM Hathaway Fund in November 2002, applying the same strategy. The fund occupies the 1st quartile its sector over the ten years to the end of March 2023; the fund’s total return of 87.0% in that time, compares favourably with the benchmark’s 66.6%. (Data taken from recent fund report.)
Make the most of your investment opportunities Get in touch today to discuss your financial goals and join a growing list of clients enjoying the benefits of value investing.
Hathaway Investment Management Limited is authorised and regulated by the Financial Conduct Authority
Hathaway Investment Management Limited Grosvenor House 14 Bennetts Hill Birmingham B2 5RS
Is value investing right for you? If you are prepared to accept a medium level of risk in your portfolio and want to enjoy the attractive growth potential of shares, then our value investing policy is for you. To protect our clients, we build a margin of safety in all our portfolios by holding an appropriate level of bonds alongside company shares. Risks are present, but they are quantified and controlled to minimise any threat. Buying securities at what we consider to be below their intrinsic value will also help to bolster the margin of safety that investors often desire. However, as with all our investments, we are interested in substance not form and so we subject fixed income investments to the same rigorous analysis as equities. We therefore buy or hold them if they make sense and not on the basis of a Pavlovian reaction.

How we invest your money

We don’t get distracted by trying to be a ‘jack-of-all-trades’; our focus is on the construction and maintenance of a high-quality, equity-based portfolio which suits your goals to offer you the best possible return on your investment.
The quest for value As ‘value investors’, we seek to buy securities on the basis of value and not popularity or fashion because sensible investments will beat most markets over the longer term. We have always sought to achieve returns ahead of our benchmark (compared over all periods) and our fund reports evidence our performance in pursuit of that objective; ultimately though, we should be judged over longer rather than shorter periods. We look for companies which are making stable profit for their shareholders and which have an enduring position of dominance, or prominence, in their particular area. We therefore invest in healthy businesses across a range of market sectors including building supplies, engineering, drinks, property and insurance.

Our services

Having comprehensively discussed your investment objectives and attitude to risk, our fully- managed service combines extensive in-house research with our regular monitoring process to ensure that we construct a portfolio that suits your individual needs whilst maintaining the flexibility to react to new opportunities that fulfil your goals. We encourage personal contact with your investment manager so that we can best adapt your portfolio as your circumstances change. We’re happy to communicate via phone and email but often an informal meeting is the best way for each party to keep the other abreast of any important developments so we’re happy to come to you or welcome you at our offices in central Birmingham. Should you wish, we’re also happy to deal directly with other related parties you may appoint such as tax advisers, solicitors, care homes, attorneys, etc to help matters run smoothly.
We provide tax-efficient Stocks & Shares Individual Savings Accounts alongside your discretionary portfolio to take advantage of the annual allowances in Capital Gains Tax and ISA subscriptions whilst clients with all their assets in an ISA are afforded the same bespoke approach with which we manage discretionary portfolios. Should you wish to transfer any existing ISAs to us, we’d be happy to help with that too; just get in touch and we’ll arrange the necessary paperwork.
We manage our fund on the same value investing basis as our clients’ portfolios but with the added bonus of being able to invest in securities on a scale that just isn’t always possible for the private investor. You don’t have to be a client of Hathaway to invest in our fund - you can invest directly; get in touch with us here or call our fund administrators, IFSL Fund Services, on 0808 1789321. Comprehensive information on our IFSL Hathaway Fund is shown below.
Discretionary Portfolio Service
The backbone of our business, we’ve provided clients with discretionary portfolio services for more than 20 years.
ISA Management
ISAs are a vital cornerstone of an individual’s investment portfolio.
IFSL Hathaway Fund
Enjoy our value investing philosophy alongside larger clients and institutions.

Our clients

Private individuals Your attitude to risk, financial goals, priorities and concerns are all thoroughly considered before we develop a portfolio to suit your circumstances.
SIPPs Whilst we don’t provide advice on pensions, we manage the investments within them to suit your investment strategy for your retirement.
Trusts & Charities The very nature of value investing means that we are able to provide the long-term investment strategies often required for our trust clients.

We only invest for clients where

we are willing - and do - place our

own money

We do not make predictions about

the stock market, interest rates or

the course of inflation; to do so is


We invest in company shares only where

we expect to do better or considerably

better than the prevailing risk-free rate.

We conduct our own equity

research and are not afraid to

ignore market trends in search of


Whilst being flexible in our

approach, we constantly try and

refine and discipline our efforts.

We hold a margin of safety due to

the price we pay for company

shares and we exhibit patience,

crucial to value investing.

+44 (0)121 632 3970 enquiries@hathawayinvestment.com
Companies Our corporate clients are afforded the same high quality service as our private clients with every effort made to accommodate specific investment objectives.
With decades of experience in the investment management, stockbroking, accounting and IT sectors, our dedicated team strive to ensure our clients receive a service of the highest standard. Performance. Efficiency. Discretion.
Fund YTD
IFSL Hathaway Fund
Experience tells us that performance is a fundamental factor when it comes to investors’ long-term objectives which is why we’re proud of our Fund’s record when measured alongside the IA Mixed Investments 40-85% Shares sector, in which our Fund resides and which we use as our benchmark for performance comparisons.
ISINs INC GB0032395336 ACC GB0032395443
Latest Prices Income Units 151.86p Accumulation Units 217.98p
Dividends Interim XD 30/03 PD 31/05 Final XD 30/09 PD 30/11
Risk The figures refer to the past and that past performance is not a reliable indicator of future results. The value of investments and the income from them can go down as well as up and you may not get back the amount originally invested. Investors should carefully read the Key Investor Document and the Risk Warning page of this website before making a decision to invest.
Reference Performance, holdings and price data as of 22nd February 2024. The Fund year runs to 30th September. All performance data is provided by trustnet.com and FE Analytics. Fund performance figures based upon Accumulation units, net of charges. IFSL Hathaway Fund was the winner of MoneyWise Magazine ‘Highly Commended’ Award in 2013 & 2015. Discrete performance figures are for the respective calendar years.
Launch Date November 2002

Our services

United Kingdom Treasury 2% 2025
RS Group
Babcock International
Games Workshop
Top 5 Holdings