Barings German Growth A GBP

Single country specialist equity fund targeting capital growth.

  • 534.20p
    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.

  • 594.60p
    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?

  • 5.00% 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!

  • 1.50%
    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).

  • 1.57%
    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.

  • 0.50%
    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 02 April 2020

The fund aims to produce a capital return in excess of the FTSE German TR GBP by investing in listed German companies. Fund manager Robert Smith is based in London and seeks to generate alpha predominantly by investing in mid and small companies where he believes there is a greater chance of outperforming. Smith has the extensive resource of Barings to back up his own work which he uses fully.

Fund summary

Sector Specialist
Structure UNIT TRUST
Launched May, 1990
Size £332m
Yield 0.50%
Charging basis Income
Dividends paid 24 Jul

Charges

Standard initial charge 5.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.57%

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Investment process

Manager research

Average monthly relative returns

  • 15/16 0.93%
  • 16/17 -0.36%
  • 17/18 0.73%
  • 18/19 -0.55%
  • 19/20 -0.39%

Bestinvest MRI

  • 3 years -0.07%
  • 5 years 0.07%
  • Career 0.22%
  • 3 years 49.60%
  • 5 years 74.20%
  • Career 97.60%

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

Robert Smith

Smith, Head of the Industrials Global Sector Team, joined Baring Asset Management in 1998. He transferred to the UK & Europe Equity Team in 2000 and to the Pan Euro Small and Mid Cap Team in 2004. Smith was appointed Divisional Director in 2005. Before joining Baring Asset Management, he worked with HSBC Asset Management and at Dresdner RCM Global Investors. Smith is a member of the Society of Technical Analysts and has passed the Securities Institute Diploma. He received the Investment Management Certificate in 1995 and was awarded the SFA registered representative in 1991.

Track record

Robert Smith has 11.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.22%. During the worst period of relative performance (from January 2018 - February 2020) there was a decline of 11% relative to the index. The worst absolute loss has been 29%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 98%.

Periods of worst performance

Absolute -29.00% (June 2011 - September 2011)
Relative -11.00% (January 2018 - February 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 28 February 2020

9.7054% Sap Se
8.8449% Airbus Se
7.6873% Allianz Se
5.2768% Siemens Ag
5.0495% Volkswagen Ag Non.v Prf Npv
4.376% Deutsche Post Ag
3.488% Lanxess Ag
3.4497% Siltronic Ag
3.2857% Wirecard Ag
2.6637% Merck Kgaa
Source: Trustnet

Sector breakdown

Industrials 30.00%
Information Technology 27.00%
Consumer Discretionary 12.00%
Health Care 10.00%
Financials 8.00%
Materials 7.00%
Money Market 3.00%
Utilities 2.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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