AXA Framlington American Growth Z

Invests mainly in large and midcap North American equities. The fund has a growth bias.

  • 562.80p
    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.

  • 563.20p
    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).

  • 0.82%
    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.

  • 0.00%
    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 21 September 2021, fund data last updated 19 August 2003

The fund's objective is to achieve capital growth through investment principally in US, Canadian and Mexican large and medium capitalisation companies which, in the manager's opinion, show above average profitability, management quality and growth.

Fund summary

Sector North America
Structure UNIT TRUST
Launched June, 2011
Size £970m
Yield 0.00%
Charging basis
Dividends paid

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 0.82%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 16/17 -0.04%
  • 17/18 0.92%
  • 18/19 -0.09%
  • 19/20 0.94%
  • 20/21 0.23%

Bestinvest MRI

  • 3 years 0.36%
  • 5 years 0.39%
  • Career 0.18%
  • 3 years 87.90%
  • 5 years 96.40%
  • Career 96.60%

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

Stephen Kelly

Born in 1969, Kelly graduated with an Economics degree from Exeter University in 1990. He joined Olliff & Partners as a trainee in the equity research department where he covered the UK paper and packaging sector. He moved to Capel Cure Myers in 1992 where he was promoted to fund manager from assistant in 1995. In 1997 he joined AXA Framlington as a fund manager on the US desk, responsible for US growth funds.

Track record

Stephen Kelly has 24.5 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.18%. During the worst period of relative performance (from September 2000 - December 2016) there was a decline of 36% relative to the index. The worst absolute loss has been 60%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 97%.

Periods of worst performance

Absolute -60.00% (August 2000 - January 2003)
Relative -36.00% (September 2000 - December 2016)

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 August 2021

5.89% Microsoft Corp
5.17% Apple Inc
4.62% Alphabet Inc
4.33% Amazon.com Inc
2.37% Facebook Inc
1.76% American Express Co
1.62% Salesforce.com Inc
1.58% Servicenow Inc
1.57% Chipotle Mexican Grill
1.57% Costco Wholesale Corp
Source: Trustnet

Sector breakdown

Technology 38.00%
Health Care 23.00%
Consumer Discretionary 17.00%
Financial Services 9.00%
Producer Durables 6.00%
Materials & Processing 2.00%
Money Market 2.00%
Consumer Staples 2.00%
Energy 1.00%

Portfolio

65-75 stocks.

Constraints

Typical max 2% active share.

Key Investor Information - Income

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Key Investor Information - Accumulation

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