Aviva Investors Distribution 1

Invests in bonds and high yielding equities.

  • 221.16p
    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.

  • 387.27p
    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?

  • 4.00% 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!

  • 1.25%
    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).

  • 1.39%
    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.

  • 2.70%
    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 23 January 2020

Fund summary

Sector Mixed Investment 20-60% Shares
Structure OEIC
Launched June, 1974
Size £291m
Yield 2.70%
Charging basis Capital
Dividends paid 15 Mar, 15 Jun, 15 Sep, 15 Dec

Charges

Standard initial charge 4.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.25%
Ongoing charges figure 1.39%

Allocation

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Investment process

The investment objective is to provide a high and growing level of income with prospects for long term capital appreciation. Diversified investment in high yielding UK equities and UK fixed interest securities. Allocations to fixed interest securities, equities and cash will vary over time. Equity selections will be based on price and long term total return prospects. Financial futures may be used to implement asset allocation decisions.

Manager research

Average monthly relative returns

  • 15/16 0.19%
  • 16/17 -0.27%
  • 17/18 -0.06%
  • 18/19 -0.16%
  • 19/20 -0.04%

Bestinvest MRI

  • 3 years -0.09%
  • 5 years -0.07%
  • Career 0.00%
  • 3 years 40.90%
  • 5 years 47.20%
  • Career 83.90%

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

Chris Murphy / James Vokins

Murphy graduated from Cardiff University in 1987 with an Honours degree in Physics (BSc). He joined Shearson Lehman in 1988 as a graduate trainee and became a UK equity analyst. He continued his career as an analyst at James Capel in 1990, advising institutional investors, sales teams and traders. In 1993 he joined Framlington where he became responsible for the management of a range of UK equity funds. He left Framlington in 2006 to join Morley. Vokins joined Aviva Investors in September 2005. He initially joined Aviva Investors as a graduate within the finance department. In October 2006 he moved to the credit team as an investment analyst. He has had several short-term internships with JP Morgan in the debt capital markets bond/loan origination. He has also worked for ConocoPhillips as a desk assistant for the crude oil traders and for HSBC as a major projects analyst. Vokins holds a BSc (Hons) in Business Administration, from University of Bath and has also passed the CFA.

Track record

Chris Murphy / James Vokins has 8.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +00%. During the worst period of relative performance (from December 2015 - July 2018) there was a decline of 7% relative to the index. The worst absolute loss has been 6%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is

Periods of worst performance

Absolute -6.00% (May 2011 - September 2011)
Relative -7.00% (December 2015 - July 2018)

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 30 November 2019

1.76% Intermediate Capital Group
1.58% Glaxosmithkline
1.52% Bhp Group Plc
1.34% Phoenix Group Hldgs
1.28% Royal Dutch Shell
1.27% Bank Of Scotland Capital Funding Lp 0%
1.25% Melrose Industries Plc
1.23% Barclays Bank Plc 10%
1.23% Electricite De France Sa 6.12%
Source: Trustnet

Sector breakdown

Financial Services 22.00%
Financial Services 10.00%
Communications 9.00%
Others 7.00%
Utilities 7.00%
Industrials 6.00%
Others 5.00%
Others 4.00%
Consumer Staples 4.00%
Real Estate 4.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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