fund
ASI UK Ethical Equity P1
Multi-cap UK equity fund, which invests in companies that meet Aberdeen Standard's ethical criteria.
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69.02p
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.
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121.60p
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?
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0.00%
Initial chargeSome 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!
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0.75%
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).
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0.90%
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.
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0.50%
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…
This fund aims to provide long term growth by investing in a diversified portfolio of UK equities that meet Aberdeen Standard's ethical criteria. The fund follows a reasonably strict ethical process, which includes both negative and positive screening, where a number of companies and industries are screened in or out of the stock selection process depending on their impact on the environment or society. Current areas of exclusion include alcohol, tobacco and companies deemed to cause environmental damage - the latter typically rules out most oil and mining stocks.
Fund summary
| Sector | UK All Companies |
| Structure | OEIC |
| Launched | May, 2012 |
| Size | £344m |
| Yield | 0.50% |
| Charging basis | Income |
| Dividends paid | 30 Apr |
Charges
| Standard initial charge | 0.00% |
| Initial charge via Bestinvest | 0.00% |
| Additional bid/offer spread | 0.00% |
| Annual management charge | 0.75% |
| Ongoing charges figure | 0.90% |
Allocation
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Investment process
Manager research
Average monthly relative returns
- 17/18 1.14%
- 18/19 -0.40%
- 19/20 0.15%
- 20/21 0.62%
- 21/22 0.32%
Bestinvest MRI
- 3 years 0.36%
- 5 years 0.37%
- Career 0.17%
- 3 years 79.10%
- 5 years 88.30%
- Career 91.80%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Lesley Duncan
In her role as investment director in Standard Life Investments’ UK Equity team, Duncan manages the UK Ethical fund and specialises in the Household Goods and Support Services sectors. She joined Bothwell Asset Management as a Trainee Analyst in 1993 before moving to Standard Life in 1995 as a Trainee Investment Analyst on the UK desk, becoming an investment manager in 1999. She holds a BA (Hons) in Business Economics and an MPhil in International Finance.
Track record
Lesley Duncan has 17.4 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.17%. During the worst period of relative performance (from February 2007 - December 2008) there was a decline of 25% relative to the index. The worst absolute loss has been 50%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 92%.
Periods of worst performance
| Absolute | -50.00% (May 2007 - March 2009) |
| Relative | -25.00% (February 2007 - December 2008) |
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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Top 10 holdings
Data accurate as at 31 December 2021
| 3.9678% | Howden Joinery Group Plc |
| 3.6783% | Kainos Group Plc |
| 3.0471% | Aveva Group |
| 2.8957% | Bellway |
| 2.659% | Genuit Group Plc |
| 2.3431% | Greggs |
| 2.3301% | Osb Group Plc |
| 2.2407% | Prudential Plc |
| 2.1908% | Grafton Group Units |
| 2.1161% | Standard Chartered |
| Source: Trustnet |
Sector breakdown
| Industrials | 24.00% |
| Consumer Discretionary | 22.00% |
| Financials | 18.00% |
| Technology | 14.00% |
| Real Estate | 6.00% |
| Consumer Staples | 4.00% |
| Utilities | 3.00% |
| Telecommunications | 3.00% |
| Others | 2.00% |
| Basic Materials | 2.00% |
Portfolio
The portfolio tends to hold 50-100 stocks. 75 are currently in the portfolio. Top 10 account for 26% of the portfolio.
Constraints
No sector or stock limits, but any position in a single stock will tend to be below 5%, including cash. Tracking error 4-10%.