AXA Framlington FinTech R

Specialist portfolio, concentrating on financial companies on a global basis.

  • 596.30p Price (Inc)
  • 787.10p Price (Acc)
  • 5.25% 0.00% Initial charge
  • 1.50% Annual management charge
  • 1.63% Ongoing charges
  • 0.10% Yield

Prices as at 06 December 2019, fund data last updated 23 August 2004

A specialist fund which focuses on international companies with niche products, which aims to benefit from changes in demographics and consolidation in financial services. However, specialising in one sector or industry is risky and should only be considered by the more experienced investor or as part of a large portfolio. Our preferred choice is Jupiter Financial Opportunities.

Fund summary

Sector Specialist
Structure UNIT TRUST
Launched October, 1986
Size £62m
Yield 0.10%
Charging basis Income
Dividends paid 15 Jun, 15 Dec

Charges

Standard initial charge 5.25%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.63%

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Investment process

Capital growth through investment principally in financial services companies worldwide. Investment will be predominantly in banks, insurance companies, property companies, investment related companies, and other financial service providers which, in the Manager's opinion, show above average profitability, management quality and growth. This is a research driven bottom up fund which utilises regional desk managers to select the overseas element of the portfolio. The fund generally targets companies that have superior growth prospects at a reasonable price.

Manager research

Average monthly relative returns

  • 14/15 0.09%
  • 15/16 -0.48%
  • 16/17 0.13%
  • 17/18 0.11%
  • 18/19 0.50%

Bestinvest MRI

  • 3 years 0.24%
  • 5 years 0.07%
  • Career 0.02%
  • 3 years 82.90%
  • 5 years 70.20%
  • Career 70.20%

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

Vincent Vinatier

Vinatier rejoined AXA in 2009 having been at Schroders plc from 2005. Prior to this he was at AXA from 2001. He started his investment career at Cazenove & Co in 1997 as an Equity Analyst covering European Media Small & Mid cap & French Equity. Vinatier has an MBA from Audencia Nantes School of Management and an MSc from Reading University in International Securities, Investment & Banking.

Track record

Vincent Vinatier has 7.1 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.02%. During the worst period of relative performance (from May 2015 - December 2016) there was a decline of 12% relative to the index. The worst absolute loss has been 17%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 70%.

Periods of worst performance

Absolute -17.00% (May 2015 - January 2016)
Relative -12.00% (May 2015 - 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.

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Top 10 holdings

Data accurate as at 30 August 2019

5.3% Fidelity National Information Services Inc
5.16% Paypal Hldgs Inc
4.88% Visa Inc
4.86% Global Payments Inc
3.48% Allianz Se
3.41% S&P Global Inc
3.28% Pagseguro Digital Ltd
3.25% Worldline
3.04% Palo Alto Networks Inc
2.91% American Express Co
Source: Trustnet

Sector breakdown

Information Technology 34.00%
Banks 18.00%
Software 16.00%
Money Market 7.00%
Insurance 6.00%
Financials 6.00%
Services 4.00%
Consumer Credit & Leasing 3.00%
Retail 3.00%
Media 1.00%

Portfolio

There are around 100 companies within the portfolio.

Key Investor Information - Income

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Key Investor Information - Accumulation

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