AXA Rosenberg American Z

North American equity fund targeting capital growth over the medium to long term.

  • 401.50p
    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.

  • -
    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.

  • 0.60%

    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 25 January 2022, we don’t currently provide commentary on this fund.

The objective of the fund is to achieve capital growth over the medium to long term. The portfolio will seek investment opportunities in all areas of the North American Stock Market, which encompass investments in companies of all sizes and every conceivable field of business.

Fund summary

Sector North America
Structure OEIC
Launched June, 1985
Size £233m
Yield 0.60%
Charging basis
Dividends paid Acc units only


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%


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Investment process

To achieve capital growth over the medium to long term.

Manager research

Average monthly relative returns

  • 17/18 -0.22%
  • 18/19 -0.54%
  • 19/20 -0.26%
  • 20/21 0.00%
  • 21/22 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career -0.04%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 65.20%

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

AXA Rosenberg Team

In 1999 a strategic alliance was formed with AXA Investment Managers and the Rosenberg Group became AXA Rosenberg. AXA owns 75% of the economic interest of AXA Rosenberg and the remaining 25% is owned by Rosenberg Partners. Launched in 1985 by Barr Rosenberg, Rosenberg has a global presence (San Francisco, London, Tokyo, Kong Kong and Singapore) and more than £29 billion of assets under management. The European equity team consists of 13 portfolio managers including Agustin Sevilla (CIO Europe). The Barr Rosenberg Research Centre in Orinda, California, is made up by 20 professionals. Their job is to continually investigate the fundamental drivers of equity returns.

Track record

Axa Rosenberg Team has 27.7 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.04%. During the worst period of relative performance (from April 2006 - August 2020) there was a decline of 34% relative to the index. The worst absolute loss has been 46%.

Periods of worst performance

Absolute -46.00% (May 2007 - February 2009)
Relative -34.00% (April 2006 - August 2020)

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 November 2021

6.9% Microsoft Corp
6.26% Apple Inc
3.86% Inc
3.71% Alphabet Inc
2.21% Adobe Inc
2.18% Tesla Inc
1.95% Meta Platforms Inc
1.82% Lowes Companies Inc
1.63% Advanced Micro Devices Inc
1.62% Oracle Corp
Source: Trustnet

Sector breakdown

Information Technology 34.00%
Health Care 15.00%
Consumer Discretionary 13.00%
Financials 12.00%
Communications 9.00%
Consumer Staples 6.00%
Industrials 6.00%
Materials 3.00%
Energy 1.00%
Money Market 1.00%

Key Investor Information