BNY Mellon Asian Income Institutional W

Focused fund targeting a high yield from the growing dividends in the region

  • 139.10p
    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.

  • 201.43p
    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).

  • 0.83%
    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.

  • 3.00%
    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 14 June 2021, fund data last updated 31 March 2016

This Fund invests throughout Asia (excluding Japan) and Australasia with the aim of a high and rising income together with capital growth. The target yield is 35% above that of the index. The process is similar to that of other Newton equity income funds, employing a strict yield discipline and feeding off trends such as Asian urbanisation identified by Newton's top-down strategic process.

Fund summary

Sector Asia Pacific Excluding Japan
Structure OEIC
Launched August, 2012
Size £1,037m
Yield 3.00%
Charging basis Capital
Dividends paid Feb, May, Aug, Nov

Charges

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 0.83%

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Investment process

The fund aims to achieve a high and rising income together with long-term capital growth primarily through investments in securities in the Asia ex Japan region (including Australia and New Zealand). As with other Newton equity income funds strict yield criteria apply to all securities in the portfolio. Stocks are identified that initially pay a prospective yield in excess of that of the reference benchmark, the FTSE AW Asia Pacific ex Japan Index. This reduces the investment universe from over 1,500 stocks to around 600. Any stock whose yield falls to a 15% discount to the benchmark will be sold. The manager identifies stocks that offer an attractive yield, and also those that are in a position to significantly grow their dividend over the medium-to-long term.

Manager research

Average monthly relative returns

  • 16/17 -0.68%
  • 17/18 -0.91%
  • 18/19 0.81%
  • 19/20 -0.46%
  • 20/21 -0.49%

Bestinvest MRI

  • 3 years -0.05%
  • 5 years -0.35%
  • Career -0.11%
  • 3 years 52.40%
  • 5 years 15.90%
  • Career 44.00%

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

Newton EM & Asia Team

Marshall-Lee leads the combined Global Emerging Markets and Asia Equities team at Newton Capital Management Limited. All seven members of this combined team include: Rob Marshall-Lee, Caroline Keen, Amy Leung, Sophia Whitbread, Naomi Waistell, Zoe Kan and Douglas Reed.

Track record

Newton Em & Asia Team has 6 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.11%. During the worst period of relative performance (from February 2016 - October 2020) there was a decline of 26% relative to the index. The worst absolute loss has been 24%.

Periods of worst performance

Absolute -24.00% (July 2019 - March 2020)
Relative -26.00% (February 2016 - October 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 31 July 2020

9.48% Taiwan Semiconductor Manufacturing
8.04% Samsung Electronics Co
4.27% United Overseas Bank
4.09% Insurance Australia Group
4.02% Link Real Estate Investment Trust Units
3.92% Dbs Group Hldgs Ltd
3.63% Clp Hldgs
3.47% Macquarie Korea Infrastructure Fund Npv
3.29% Singapore Technologies Engineering
3.17% Venture Corp
Source: Trustnet

Sector breakdown

Financials 36.00%
Technology 18.00%
Industrials 15.00%
Telecommunications 9.00%
Utilities 7.00%
Consumer Services 6.00%
Money Market 4.00%
Consumer Goods 3.00%
Basic Materials 3.00%

Portfolio

40-50 stocks.

Constraints

No specific market cap bias or sector limits. Fund must yield more than 35% higher than the benchmark and stocks yielding more than 15% under the benchmark must be sold

Key Investor Information - Income

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Key Investor Information - Accumulation

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