Three funds for global income and capital growth

For capital growth, three funds are chosen by Adam Norris, co-portfolio manager of the CT Global Managed Portfolio Trust

We have two portfolios: one that focuses on capital growth and the other that generates income with potential for capital growth. The Schiehallion Fund (LSE: MNTN) is a late-stage private-equity investment firm run by Baillie Gifford for investors interested in the former portfolio.

Due to the sharp decline in popularity of late-stage growth investing, the group has had a challenging few years. However, some of its biggest holdings, including Elon Musk's SpaceX (14 percent of the portfolio) and digital acquisition-focused Bending Spoons (15 percent), have achieved valuation levels seldom seen in private equity. As a result, we can now clearly identify "winners" of its investment strategy. The Schiehallion Fund has valuable assets that could be further revalued into a public market listing as the listings market may warm up once more. Schiehallion shares are available to investors at a 17% discount to the sum-of-the-parts valuation in the meantime.

Generation of income with room to grow.

3i Infrastructure (LSE: 3IN) is a company that makes investments in private European infrastructure companies for investors focused on income generation with potential for capital growth. With an annualized total return of 13% since 2015, its long-term performance is remarkable. The group's infrastructure investment strategy gives it considerable control over the businesses in its portfolio, many of which have highly contracted cash flows that provide investors with predictable returns.

TCR, the biggest independent airport ground-support equipment lessor with operations in 230 airports in more than 20 countries, is the crown jewel of the trust. Now that TCR is confirmed for sale, performance may benefit if an increase over carrying value is possible.

In the meantime, 3IN's dividend yield is currently 3.5 percent. Over the past five years, the company has increased its dividend ahead of inflation, which is a challenging accomplishment given the recent high inflation that investors have encountered. 3i Infrastructures shares are available to investors at a discount of about 7% to the sum-of-the-parts valuation.

Invesco Asia Dragon Trust (LSE: IAD) is an investment trust that focuses on Asian stocks for investors seeking a combination of capital growth, income generation, and diversification from exposure to developed markets. Asian and emerging-market stocks have lost ten years of value. Earnings per share (EPS), expressed in US dollars, are nearly at the same level as in 2015, despite the fact that economies have expanded.

In our opinion, Chinese technology companies continue to be among the most inventive in the world, and they are now exhibiting significant indications of becoming more investor-friendly, like initiating significant share buybacks and paying dividends.

Fiona Yang and Ian Hargreaves, the managers of IADs, have shown a strong capacity to produce results in a variety of market conditions by employing a highly stock-specific investment strategy. In addition, the trust offers investors a balance of income and exposure to Asian stocks with significant growth potential by paying shareholders an aggregate dividend equal to 4% of its previous fiscal year-end net asset value (NAV) in four equal installments.

Using the company's reservesa distinguishing characteristic of an investment trust as opposed to an open-ended fundto supplement the natural income generated allows the managers to make more investments without having to focus only on high-yielding stocks.