BMO Responsible Global Equity 1

A global equity fund investing only in companies deemed to be making a positive contribution to society and the environment.

  • 609.20p
    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.

  • 621.10p
    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).

  • 1.65%
    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 11 December 2019, fund data last updated 20 December 2016

The fund aims to provide capital growth by investing in an ethically screened and diversified portfolio of global equities. Manager Jamie Jenkins seeks to invest in companies making a positive contribution to society and the environment, while avoiding investment in companies with damaging or unsustainable business practices. To do this he uses both negative and positive screening, with "invest, avoid and improve" the key philosophy. The fund has a style bias towards growth stocks.

Fund summary

Sector Global
Structure OEIC
Launched October, 1987
Size £601m
Yield 0.00%
Charging basis Income
Dividends paid 31 Jan, 31 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 1.65%

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Investment process

The fund has a global remit and seeks to invest in companies making a positive contribution to society and the environment, while avoiding investment in companies with damaging or unsustainable business practices. The manager uses both negative and positive screening, and "invest, avoid and improve" is their key philosophy. Exclusions include Alcohol, Gambling,Fossil Fuels, Mining, Nuclear Power, Pornography, Tobacco and Weapons. The fund is a high conviction portfolio of 50-70 stocks, which has a style bias towards mid-cap & growth stocks, and has a minimum 3 - 5 year investment horizon. Portfolio construction is the responsibility of Jamie Jenkins. However, ethical research is the responsibility of the large internal GSI team, which are very active in shareholder engagement with underlying companies. The fund is overseen by an advisory council which meets on a quarterly basis and whose President is the Archbishop of Canterbury.

Portfolio construction is the responsibility of Jamie Jenkins, who is the Head of the Responsible Global Equities team. ESG research is the responsibility of the large internal Governance and Sustainable Investment (GSI) team and the fund is overseen by an advisory council, whose President is the Archbishop of Canterbury and meets on a quarterly basis. The fund has a bottom-up approach like most actively managed ethical funds, but the fund is more closely correlated to the MSCI World benchmark than a number of global ethical funds. We would describe the fund as mid-green, but as always encourage investors to read the ethical criteria before investing.

Manager research

Average monthly relative returns

  • 14/15 -0.81%
  • 15/16 0.31%
  • 16/17 -0.50%
  • 17/18 0.01%
  • 18/19 -0.20%

Bestinvest MRI

  • 3 years -0.23%
  • 5 years -0.24%
  • Career -0.17%
  • 3 years 50.00%
  • 5 years 50.00%
  • Career 44.80%

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

Jamie Jenkins

Jenkins is Head of the Responsible Global Equities team at F&C. He joined the firm in 2000 and is co-manager of the F&C Responsible Global Equity Fund. Prior to joining the firm, Jenkins worked at Hill Samuel Asset Management as a Japanese Equities Fund Manager. He holds an MA in History from the University of Edinburgh, has IMC and IIMR qualifications and is a member of the CFA Society of the UK.

Track record

Jamie Jenkins has 10.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.17%. During the worst period of relative performance (from December 2006 - August 2014) there was a decline of 23% relative to the index. The worst absolute loss has been 39%.

Periods of worst performance

Absolute -39.00% (March 2006 - February 2009)
Relative -23.00% (December 2006 - August 2014)

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 (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Top 10 holdings

Data accurate as at 30 August 2019

4.9% Microsoft Corp
4.5% Mastercard Inc
4.3% Apple Inc
3.3% Linde Ag
3.1% Accenture Plc
2.9% Thermo Fisher Scientific Inc
2.8% Crown Castle International Corp
2.8% Xylem Inc
2.6% Intercontinental Exchange Inc
2.4% Roper Technologies Inc
Source: Trustnet

Sector breakdown

Information Technology 26.00%
Industrials 17.00%
Health Care 17.00%
Financials 16.00%
Consumer Discretionary 10.00%
Materials 6.00%
Real Estate 3.00%
Consumer Staples 2.00%
Money Market 1.00%
Utilities 1.00%

Portfolio

High conviction portfolio of 50 to 70 stocks.

Constraints

Typical max 5% in large cap stocks, 3% in small caps. Regional weights typically within +/-10% relative to the index.

Key Investor Information - Income

Download

Key Investor Information - Accumulation

Download