fund
Aviva Investors UK Smaller Companies SC 2
Manager targets companies offering above average earnings growth.
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592.48p
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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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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0.89%
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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1.40%
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…
Fund summary
| Sector | UK Smaller Companies |
| Structure | OEIC |
| Launched | November, 1998 |
| Size | £27m |
| Yield | 1.40% |
| Charging basis | Income |
| Dividends paid | Acc units only |
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 | 0.89% |
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 -0.32%
- 16/17 -0.73%
- 17/18 0.65%
- 18/19 0.55%
- 19/20 1.06%
Bestinvest MRI
- 3 years 0.75%
- 5 years 0.24%
- Career 0.24%
- 3 years 99.80%
- 5 years 88.50%
- Career 92.50%
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 6.5 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.24%. 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 93%.
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 January 2020
| 4.97% | Discoverie Group Plc |
| 4.49% | Alpha Finl Mkts Consulting Plc |
| 4.14% | Globaldata Plc |
| 4.04% | Cvs Group Plc |
| 3.64% | Ab Dynamics Plc |
| Source: Trustnet |
Sector breakdown
| Technology | 25.00% |
| Industrials | 19.00% |
| Cyclical Consumer Goods | 15.00% |
| Communications | 11.00% |
| Health Care | 10.00% |
| Financial Services | 7.00% |
| Real Estate | 6.00% |
| Basic Materials | 4.00% |
| Consumer Staples | 3.00% |
Portfolio
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Key Investor Information