BlackRock Balanced Growth Portfolio A

UK 50-75% with 15% in fixed interest. Portfolio reflects Merrill's UK client model.

  • 161.10p
    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.

  • 354.80p
    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?

  • 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).

  • 1.74%
    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.

  • 2.30%
    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 11 December 2019

The Fund's objective is to achieve long-term total return, either through capital growth and/or income generation depending on market conditions. The Fund invests in equities across the capitalisation spectrum as well as quality bonds. Investment may be made in any and all economic sectors, although under normal market conditions there will be an emphasis on the UK.

Fund summary

Sector Mixed Investment 40-85% Shares
Structure UNIT TRUST
Launched February, 1989
Size £186m
Yield 2.30%
Charging basis Capital
Dividends paid 31 May, 30 Nov

Charges

Standard initial charge 5.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.32%
Annual management charge 1.50%
Ongoing charges figure 1.74%

Allocation

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Investment process

The objective is a balance between long-term capital growth and a reasonable level of income (Oct 99 yield 2%, bonds content c15%). It provides a global investment strategy, but with an emphasis on leading UK companies (UK content within 50-75%). The portfolio reflects the asset allocation adopted by Mercury for its UK-based clients.

Manager research

Average monthly relative returns

  • 14/15 0.00%
  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 -0.38%
  • 18/19 0.06%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career -0.27%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 25.50%

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

Andrew Warwick

Track record

Andrew Warwick has 2.9 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 2011 - July 2013) there was a decline of 13% relative to the index. The worst absolute loss has been 16%.

Periods of worst performance

Absolute -16.00% (April 2011 - September 2011)
Relative -13.00% (March 2011 - July 2013)

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

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Top 10 holdings

Data accurate as at 30 April 2016

13.44% Blackrock Corporate Bond A Acc
7.4% Blackrock Uk Smaller Companies A Acc
7.24% Blackrock Uk Index Gbp
5.04% Citi Emerging Lifestyle Trends Basket Total Return Swap
4.87% Nasdaq 100 E-Mini Jun 16
4.67% S&P500 Emini Jun 16
4.45% Ftse 100 Index Jun 16
3.82% Blackrock Continental European A Inc
3.03% Topix Index Jun 16
2.55% E-Mini Health Care Sector Jun 16
Source: Trustnet

Key Investor Information - Income

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Key Investor Information - Accumulation

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