AXA Ethical Distribution Z

  • 200.80p
    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.

  • 187.20p
    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?

  • 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!

  • 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).

  • 0.78%
    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.

  • 2.00%
    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 13 December 2019

Fund summary

Sector Mixed Investment 20-60% Shares
Structure OEIC
Launched May, 1998
Size £210m
Yield 2.00%
Charging basis
Dividends paid 30 Jun, 31 Dec

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 0.78%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 14/15 -0.46%
  • 15/16 0.55%
  • 16/17 -1.17%
  • 17/18 -0.65%
  • 18/19 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career -0.11%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 51.20%

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

Stuart Fowler

Fowler has been the Head of UK Equities at AXA Investment Managers since 2000. Prior to joining AXA, he spent six years with Dresdner RCM Global Investors (formerly Kleinwort Benson Investment Management) as Head of UK and European Equities, a position he has held since 1999. His fund management career began with Kleinwort Benson Investment Management as a Graduate Trainee Analyst. He subsequently moved to Morgan Grenfell Investment Management (UK Pension Fund Manager) in 1986 and to James Capel Fund Managers (Head of UK and European Equities) in 1989. Fowler graduated from Cambridge University with a MA (Hons) in Natural Sciences.

Track record

Stuart Fowler 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 -0.11%. During the worst period of relative performance (from February 2004 - September 2009) there was a decline of 27% relative to the index. The worst absolute loss has been 50%.

Periods of worst performance

Absolute -50.00% (May 2007 - February 2009)
Relative -27.00% (February 2004 - September 2009)

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 August 2019

9.4% Uk Gilt Inflation Linked 2.5% 04/16/2020
4.3% Hm Treasury United Kingdom Dmo 0.125% Idx Gilt 22/03/24 Gbp0.01
3.7% Diageo
3% Hm Treasury United Kingdom Dmo 1.875% Idx Lkd Gilt 22/11/22 Gbp
2.5% Hm Treasury United Kingdom Dmo 2.5% Idx Lkd Gilt 17/07/24 Gbp0.01
2.4% Hsbc Hldgs
2.4% Prudential Plc
1.9% Ashtead Group
1.6% London Stock Exchange Group
1.5% Hm Treasury United Kingdom Dmo 1.25% Idx Lkd Gilt 22/11/32 Gbp0.01
Source: Trustnet

Sector breakdown

AA 97.00%
Money Market 3.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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