Aegon Ethical Equity A

  • 205.80p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • -
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 2.50% 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 1.50%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 1.53%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.70%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 20 November 2020, fund data last updated 01 November 2019

The fund’s objective is to maximise total return (income plus capital) by investing in a portfolio of UK companies that meet its ethical criteria. These criteria mean it avoids companies that it decides harm people, society, animals or the environment, which excludes a large part of the UK stockmarket. Unusually for an ethical fund some oil & gas investments are allowed, so we would describe its ethical criteria as 'mid green'. Manager Audrey Ryan combines bottom-up stockpicking with an assessment of the macro environment and her portfolios typically have a growth bias.

Fund summary

Sector UK All Companies
Structure OEIC
Launched
Size £493m
Yield 0.70%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 2.50%
Initial charge via Bestinvest 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.53%

Allocation

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Investment process

This is one of three funds in the Kames Ethical range, which we would describe as following ‘mid-green’ ethical criteria. Kames employs EIRIS – a global provider of research into companies’ environmental, social and governance performance – to provide an ethical screening service which is supplemented by an internal corporate governance and ethical research team at Kames. This team is independent from the fund managers. The list of industries Kames excludes is outlined in its prospectus for investors, but in summary exclusions should include all companies involved in any form of animal testing, companies which have a significant negative impact on the environment, companies that produce weapons, nuclear power companies, companies that give political donations above £25,000 each year, and companies in the following industries: genetic engineering, pornography, alcohol, gambling, and tobacco. Banks are excluded if they are deemed to be corporate and/or international banks with exposure to large corporate and/or third world debt. The oil & gas sector is not completely excluded – see prospectus for full details. The emphasis of the investment process is on bottom-up stock selection, though the top-down perspective is not ignored. Company analysis is based on a combination of fundamentals, valuation and technical (FVT), with a focus on identifying changes that drive stock prices.

Launched in 1989, this fund is one of the UK’s oldest ethical funds with a longstanding manager in Audrey Ryan. Ryan has an impressive career track record in the UK All Companies sector, but the fund has struggled to outperform in recent years. This fund was downgraded from the Tilney Buy List to a SWITCH rating in October 2019.

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Track record

Periods of worst performance

Absolute 0.00% ()
Relative 0.00% ()

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Sector breakdown

Financials 28.00%
Industrials 18.00%
Consumer Services 18.00%
Technology 16.00%
Consumer Goods 10.00%
Telecommunications 4.00%
Utilities 4.00%
Basic Materials 1.00%
Health Care 1.00%
Money Market 1.00%

Portfolio

The portfolio tends to hold 70-120 stocks.

Key Investor Information

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