AXA Framlington UK Smaller Companies Z

  • 242.80p
    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.

  • 430.80p
    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).

  • 0.85%
    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 27 October 2021, fund data last updated 27 April 2015

The fund aims to provide capital growth through investment in UK smaller companies. The focus is predominantly on companies with a market value in excess of £100 million, although the portfolio will have some allocation to companies with sub £100 million market capitalisation as well as larger stocks within the smaller companies’ universe, those with capitalisation in excess of £750 million. Manager Dan Harlow focuses on quality growth companies with strong management that are able to growth their business over the longer term.

Fund summary

Sector UK Smaller Companies
Structure UNIT TRUST
Launched
Size £270m
Yield 0.00%
Charging basis Income
Dividends paid 30 Jun, 31 Dec

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.85%

Allocation

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Investment process

The investable universe consists of around 1500 stocks from the FTSE Small Cap, Numis Smaller Companies, FTSE Fledgeling index and Alternative Investment Market indices with market caps of up to £1bn. The manager's strategy is to invest in quality growth companies trading on attractive valuations. The investment process combines some top-down sector analysis and identification of key investment themes, including cyclical and industry trends, economic cycle, interest rates and currency fluctuations, which are combined with bottom-up stock selection. The manager favours companies with experienced management teams able to grow their businesses over the medium-term, companies with pricing power, high barriers to entry and diverse customer base. Lowson applies a valuation overlay, screening on earnings and yield growth, dividend growth, free cash flow and return on equity factors. The portfolio will typically include between 70 and 90 companies.

Manager research

Average monthly relative returns

  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%
  • 20/21 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

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

Track record

Periods of worst performance

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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

Proportion (%)

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Sector breakdown

Consumer Discretionary 31.00%
Technology 20.00%
Industrials 18.00%
Health Care 10.00%
Financials 7.00%
Energy 3.00%
Money Market 3.00%
Consumer Staples 3.00%
Real Estate 2.00%
Basic Materials 2.00%

Portfolio

70-90 stocks.

Key Investor Information - Income

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Key Investor Information - Accumulation

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