December 15, 2025
Fund

Ex-Tory treasurer’s long-only Nutshell Growth fund eclipses 700% portfolio turnover in twelve months


The Nutshell Growth fund defines itself as “a long-term quality growth strategy, strategically investing in around 30 meticulously chosen companies from around the world” and is managed by Nutshell Asset Management CEO Mark Ellis. 
Speaking to Investment Week, Ellis disclosed his fund’s “eyewatering” portfolio figures. 
Nutshell AM slashes fees on growth fund
“Our latest turnover numbers for the fund…are significantly higher than most people would ever dream,” said the CEO. 
Ellis’ boutique has been backed by the Conservative peer since its inception in 2019 and Spencer opted to…



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