AXA Framlington Managed Balanced Z

Cost effective one stop portfolio with a bias to the UK

  • 197.30p
    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.

  • 221.50p
    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!

  • 0.63%
    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).

  • 0.70%
    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.

  • 0.60%
    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 30 July 2021

Although this fund benefits from pragmatic stock selection it also follows a pension style approach to asset allocation and thus has a bias to UK equities (c60%). The fund has a clear investment approach and benefits from an experienced manager who is supported by dedicated geographical and specialist teams. Suitable for those investors looking for a cost effective "one stop" investment.

Fund summary

Sector Mixed Investment 40-85% Shares
Structure UNIT TRUST
Launched April, 2012
Size £1,137m
Yield 0.60%
Charging basis Income
Dividends paid 28 Feb

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.63%
Ongoing charges figure 0.70%

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Investment process

This fund aims to deliver capital growth by investing in a broad range of securities in all or any parts of the world. Geographic exposure is guided by the house view as well as Richard Peirson's own personal view. The manager is responsible for the UK equity and bond element of the portfolio with regional stock stock selection the responsibility of Framlington's regional/specialist desks, which are normally selected on a best ideas basis. The managers are long term growth investors and they target companies with above average profitability and credible management which offer good value.

Manager research

Average monthly relative returns

  • 16/17 0.19%
  • 17/18 -0.08%
  • 18/19 0.00%
  • 19/20 0.55%
  • 20/21 0.68%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.27%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 90.30%

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

Richard Peirson

After graduating from the University of Liverpool in 1970 with a degree in Computational and Statistical Science, Peirson worked briefly as a computer consultant at Arthur Andersen before moving to the City in 1972. From 1975 he worked at Carr Sebag with private clients, moving with the business to Grieveson Grant and then Kleinwort Benson in 1986. From 1991 he was head of UK Active Management and Equity Research, being responsible for both institutional and retail portfolios. He was also a member of the KBIM policy committee and an investment trust director. Peirson joined Framlington in March 1994 where he is responsible for the management of a number of pension funds, charities and unit trusts.

Track record

Richard Peirson has 5.6 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.27%. During the worst period of relative performance (from March 2000 - May 2000) there was a decline of 21% relative to the index. The worst absolute loss has been 40%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 90%.

Periods of worst performance

Absolute -40.00% (February 2000 - September 2001)
Relative -21.00% (March 2000 - May 2000)

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 31 July 2020

2.62% Axa Framlington Emerging Markets R Acc
1.77% Japan Government Ten Year Bond 0.1% 09/20/2026
1.77% Astrazeneca Plc
1.49% Reckitt Benckiser Group Plc
1.26% Bp
1.25% Glaxosmithkline
1.25% Hm Treasury United Kingdom Dmo 0.875% Gilt 22/10/29 Gbp0.01
1.16% United States Of Amer Treas Bonds 1.5% Bds 15/08/26 Usd1000
1.14% Diageo
1.09% United States Of Amer Treas Bonds 5.375% Bds 15/02/31 Usd1000
Source: Trustnet

Sector breakdown

Others 26.00%
Health Care 16.00%
Information Technology 13.00%
Financials 11.00%
Industrials 9.00%
Money Market 7.00%
Consumer Staples 7.00%
Consumer Discretionary 7.00%
Communications 4.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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