fund
Close Strategic Alpha X
Global multi-asset fund of funds
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223.00p
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.
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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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2.00%
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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0.20%
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…
Fund summary
| Sector | Flexible Investment |
| Structure | OEIC |
| Launched | October, 2012 |
| Size | £17m |
| Yield | 0.20% |
| Charging basis | |
| Dividends paid | Acc units only |
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 | 2.00% |
Allocation
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Investment process
The Fund aims to achieve capital growth by investing in a global portfolio of equities, fixed interest and cash. The investments will be made through a portfolio of collective investment schemes, transferable securities (including investment trusts), warrants, deposits and money market instruments.
Manager research
Average monthly relative returns
- 16/17 -0.66%
- 17/18 0.27%
- 18/19 -0.68%
- 19/20 -0.22%
- 20/21 0.33%
Bestinvest MRI
- 3 years -0.19%
- 5 years -0.19%
- Career -0.28%
- 3 years 46.80%
- 5 years 45.60%
- Career 27.80%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Nancy Curtin
Curtin was appointed CIO of Close Brothers Asset Management in 2010. She was previously CIO at Fortune, a Close Brothers subsidiary since 2006, where she managed family office portfolios across a range of investment strategies. She has held senior roles in asset management, private equity and hedge fund investing for over 20 years. Prior to joining Fortune, she was Managing Director of Schroders Investment Management NA and Head of Global Investments for its Global Mutual Fund Business. She was also CEO of Internet Finance Partners, a venture capital business of Schroders Plc and has previously worked at Barings Asset Management as Head of Emerging Markets and as a member of the European Investment and Global Asset Allocation Team. As a senior portfolio manager at Rho Asset Management, she managed the firm's assets across a range of strategies and developed Rho's private equity businesses in Berlin after the fall of the Berlin Wall. She has also worked for Credit Suisse First Boston and began her career as a financial analyst for Morgan Stanley. Curtin holds a bachelor's degree in political science, summa cum laude, from Princeton University and an MBA from Harvard Business School.
Track record
Nancy Curtin has 6.9 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.28%. During the worst period of relative performance (from March 2014 - March 2020) there was a decline of 27% relative to the index. The worst absolute loss has been 19%.
Periods of worst performance
| Absolute | -19.00% (January 2020 - March 2020) |
| Relative | -27.00% (March 2014 - March 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.
Allocation
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Top 10 holdings
Data accurate as at 31 July 2020
| 6.83% | Baillie Gifford American B Gbp Acc |
| 6.82% | Schroder Asian Total Return C Gbp Inc |
| 6.32% | Brown Advisory Us Flexible Equity C Usd Acc |
| 5.57% | Baillie Gifford Uk Equity Alpha B Gbp Acc |
| 5.32% | Tm Crux European Special Sits I Gbp Acc |
| Source: Trustnet |
Sector breakdown
| Equities | 27.00% |
| Equities | 19.00% |
| Equities | 17.00% |
| Equities | 15.00% |
| Equities | 7.00% |
| Equities | 7.00% |
| Money Market | 6.00% |
| Equities | 3.00% |
Key Investor Information