fund
BNY Mellon Global Emerging Markets W
An actively managed growth-style fund with some defensive bias.
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292.09p
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.
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268.80p
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?
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0.00%
Initial chargeSome 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!
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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).
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0.90%
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.
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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…
This fund invests in companies within emerging markets and aims to outperform the MSCI Emerging Market Index in excess of 2% per annum over rolling five-year periods. Its investment objective is to achieve long-term capital growth. The team follows a distinct global thematic investment approach and conducts extensive proprietary research.
Fund summary
| Sector | Global Emerging Markets |
| Structure | UNIT TRUST |
| Launched | July, 2015 |
| Size | £265m |
| Yield | 0.00% |
| Charging basis | Income |
| Dividends paid | 31 Aug |
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 | 0.90% |
Allocation
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Investment process
The team-based approach follows the broader macroeconomic themes and is underpinned by extensive proprietary research. While the house themes define the areas of stock selection, sector weights result from active stock picking. The strong team of 20 industry analysts produce the recommended stock list. Although the fund manager is ultimately responsible for investment decisions, consensus must be reached within the team for a stock to be included in the portfolio. Team debate is encouraged, and many contrarian ideas are generated. Typically, stocks are initially purchased at 1% weighting which is then developed up or down. A risk/reward profile of each individual holding is carefully analysed. Analysts are rewarded based on performance of their recommendations on 3-5 years basis. The fund is aimed to be reasonably concentrated.
Manager research
Average monthly relative returns
- 16/17 0.00%
- 17/18 0.00%
- 18/19 0.00%
- 19/20 0.00%
- 20/21 0.00%
Bestinvest MRI
- 3 years 0.00%
- 5 years 0.00%
- Career 0.00%
- 3 years 0.00%
- 5 years 0.00%
- Career 0.00%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Track record
Periods of worst performance
| Absolute | 0.00% () |
| Relative | 0.00% () |
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 31 July 2020
| 5.85% | Samsung Sdi |
| 5.85% | Taiwan Semiconductor Manufacturing |
| 5.57% | Alibaba Group Hldg Ltd |
| 5.19% | New Oriental Education & Technology |
| 5.03% | Meituan Dianping |
| 4.25% | Longi Green Energy Tech Co Ltd |
| 3.54% | Iljin Materials Co |
| 3.38% | Aia Group Ltd |
| 3.33% | Prosus N.v. |
| 3.33% | Tencent Hldgs Ltd |
| Source: Trustnet |
Sector breakdown
| Consumer Discretionary | 37.00% |
| Information Technology | 27.00% |
| Communications | 11.00% |
| Financials | 10.00% |
| Materials | 7.00% |
| Money Market | 3.00% |
| Consumer Staples | 3.00% |
| Industrials | 2.00% |
| Health Care | 1.00% |
Portfolio
50-80 holdings. c.40% in top 10. c.60% in top 20.
Constraints
Unconstrained by reference to benchmarks. May hold up to 10% in cash. Stock positions rarely exceed 5%. Risk team oversight.