BNY Mellon Multi-Asset Balanced Institutional W Net

Disciplined fund which is true to the house philosophy.

  • 137.81p
    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.

  • 163.60p
    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?

  • 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!

  • 0.63%
    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).

  • 0.67%
    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.

  • 2.40%
    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 29 May 2020

The international remit, while retaining some 50% in the UK, allows the fund to partially exploit Newton's global thematic approach and relative value.

Fund summary

Sector Mixed Investment 40-85% Shares
Structure OEIC
Launched August, 2012
Size £1,810m
Yield 2.40%
Charging basis Capital
Dividends paid 28 Feb 31 Aug

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.63%
Ongoing charges figure 0.67%

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Investment process

In common with most balanced funds, this fund aims to achieve both capital growth and income from a portfolio of UK and international securities. This is a stockpicking fund and plays to the strengths of Newtons approach to global theme investing and relative value. Geographically, the fund has around half its assets in the UK.

Manager research

Average monthly relative returns

  • 15/16 0.32%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.04%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 66.30%

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

Iain Stewart

Stewart joined Newton in 1985 and is a senior member of their strategy team with particular responsibility for co-ordinating the development of the global investment themes. He is also a member of the Newton Executive Committee. He specialises in managing multi-asset and global equity mandates for pension fund clients, and currently manages a range of Newton's pooled balanced funds as well as their active real return strategy. Stewart graduated from Aberdeen University and has a PhD from UEA as a result of research with the Ministry of Agriculture, Fisheries and Food, where he worked from 1980-85.

Track record

Iain Stewart has 7.6 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.04%. During the worst period of relative performance (from July 1997 - October 2001) there was a decline of 7% relative to the index. The worst absolute loss has been 33%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 66%.

Periods of worst performance

Absolute -33.00% (August 2000 - January 2003)
Relative -7.00% (July 1997 - October 2001)

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 January 2020

4.05% Australia(Commonwealth Of) 3.75% Tb 21/04/37 Aud100 (Cdi)
3.16% Royal Dutch Shell
2.88% Microsoft Corp
2.58% Diageo
2.19% Apple Inc
2.15% Novartis Ag
2.13% Relx Nv
2.13% Glaxosmithkline
2.09% Medtronic Inc
2.02% Aia Group Ltd
Source: Trustnet

Sector breakdown

Financials 17.00%
Fixed Interest 15.00%
Health Care 12.00%
Technology 10.00%
Consumer Goods 10.00%
Industrials 9.00%
Money Market 8.00%
Consumer Services 7.00%
Oil & Gas 4.00%
Basic Materials 3.00%

Portfolio

There are around 150 stocks within the portfolio.

Key Investor Information - Income

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Key Investor Information - Accumulation

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