Aviva Investors UK Smaller Companies SC 1

Manager targets companies offering above average earnings growth.

  • 414.26p
    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?

  • 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.

  • 1.10%
    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 18 September 2020, fund data last updated 29 August 2008

Fund summary

Sector UK Smaller Companies
Structure OEIC
Launched April, 1989
Size £32m
Yield 1.10%
Charging basis Income
Dividends paid Acc units only

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 fund's objective is to provide long term capital appreciation through investment principally in smaller capitalisation UK equities judged to offer prospects of above average earnings growth. The Fund may invest in any of the following financial instruments in order to achieve its investment objective: transferable securities, money market instruments, units in collective investment schemes, deposits and derivatives and forward transactions.

Manager research

Average monthly relative returns

  • 15/16 -0.59%
  • 16/17 0.05%
  • 17/18 0.78%
  • 18/19 0.35%
  • 19/20 0.63%

Bestinvest MRI

  • 3 years 0.59%
  • 5 years 0.24%
  • Career 0.19%
  • 3 years 98.50%
  • 5 years 88.70%
  • Career 89.80%

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

David Lis / Trevor Green

Lis joined Norwich Union Investment Management in 1997. Previously, he spent five years as a director of an Investor Relations Consultancy advising a number of major UK and international companies on their financial communications. He has gained fund management experience at Windsor Investment Management, a company he founded and managed; Morgan Grenfell and J Rothschild Investment Management as a Fund Manager; and NatWest as an Investment Analyst.

Track record

David Lis / Trevor Green has 6.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.19%. During the worst period of relative performance (from January 2016 - March 2017) there was a decline of 15% relative to the index. The worst absolute loss has been 27%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 90%.

Periods of worst performance

Absolute -27.00% (December 2019 - March 2020)
Relative -15.00% (January 2016 - March 2017)

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 July 2020

5.47% Globaldata Plc
4.75% Cvs Group Plc
4.36% Alpha Finl Mkts Consulting Plc
3.37% Next Fifteen Communications Group
3.36% Imimobile Plc
Source: Trustnet

Sector breakdown

Industrials 33.00%
Consumer Services 22.00%
Financials 18.00%
Technology 13.00%
Consumer Goods 6.00%
Health Care 5.00%
Basic Materials 1.00%
Others 1.00%

Portfolio

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Key Investor Information

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