City of London Emerging World GBP Retail A

  • 6684.00p
    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.

  • -
    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!

  • 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).

  • 1.78%
    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 17 September 2020, fund data last updated 26 April 2004

This fund invests into Emerging Markets by purchasing closed end specialist trusts, usually at a discount to their net asset value. As this asset class covers a large number of countries, asset allocation is important to the management team, therefore input from the group's economist is vital. The managers follow a "value" approach and have demonstrated a skill at spotting discount and arbitrage opportunities.

Fund summary

Sector
Structure OFFSHORE FUND
Launched
Size £0m
Yield 0.00%
Charging basis
Dividends paid Acc units only

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.78%

Allocation

Proportion (%)

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

Allocation

Proportion (%)

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

Allocation

Proportion (%)

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

Investment process

City of London are emerging market specialists, however they set themselves apart from the majority of their peers by investing not in direct equities but rather through closed ended trusts. The advantages of this approach are a much greater level of diversification, plus in addition to standard capital outperformance the fund also benefits from narrowing discounts in the underlying trusts to add extra performance. The process relies heavily upon asset allocation, which is determined by the group's economist. Once this view is taken, the fund managers (based in London, Singapore and Philadelphia) then choose those trusts that offer the best value and discounts. Management and boards are met before investing, with the group having the added advantage of being able to estimate NAVs for the trusts they follow. This also allows for "see through" analysis to take place.

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 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 0.00%
  • 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

Proportion (%)

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

Allocation

Proportion (%)

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

Allocation

Proportion (%)

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

Portfolio

The fund usually holds around 80 trusts, with this equating to around 4,000 individual holdings, although there will be a degree of double counting.

Key Investor Information

Download