fund
ES River and Mercantile UK Equity Income B
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496.95p
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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5.25% 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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0.96%
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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3.40%
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…
The investment objective of the Fund is to generate a rising level of income combined with the potential for capital growth. The Fund will achieve its investment objective through investing in a portfolio which shall primarily consist of UK equities, however, it may also invest in other instruments such as government gilts, corporate fixed income securities and convertibles.
Fund summary
| Sector | UK Equity Income |
| Structure | OEIC |
| Launched | February, 2009 |
| Size | £92m |
| Yield | 3.40% |
| Charging basis | Capital |
| Dividends paid | 31 May, 30 Nov |
Charges
| Standard initial charge | 5.25% |
| Initial charge via Bestinvest | 0.00% |
| Additional bid/offer spread | 0.00% |
| Annual management charge | 0.75% |
| Ongoing charges figure | 0.96% |
Allocation
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Investment process
Manager research
Average monthly relative returns
- 16/17 0.00%
- 17/18 0.00%
- 18/19 0.00%
- 19/20 0.19%
- 20/21 1.48%
Bestinvest MRI
- 3 years 0.00%
- 5 years 0.00%
- Career 0.58%
- 3 years 0.00%
- 5 years 0.00%
- Career 99.80%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Daniel Hanbury
Hanbury graduated from Loughborough University in 1996 with a 1st class degree in Mechanical Engineering, before joining Schroder Investment Management. He spent a year on the UK Fund Management desk before joining the research department for two years as an analyst in the Pan European Capital Goods Team. In April 2000 he joined the Investec Investment Team where he managed the UK Smaller Companies Fund and was a member of the Global Capital Goods Team. He left Investec in June 2006, joining River and Mercantile that October.
Track record
Daniel Hanbury has 10.1 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.58%. During the worst period of relative performance (from September 2000 - February 2001) there was a decline of 14% relative to the index. The worst absolute loss has been 31%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is more than 99%.
Periods of worst performance
| Absolute | -31.00% (September 2000 - March 2003) |
| Relative | -14.00% (September 2000 - February 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 July 2020
| 3.98% | Unilever |
| 3.5661% | Glaxosmithkline |
| 3.4082% | Tesco |
| 3.2224% | Diversified Gas & Oil Plc |
| 3.1768% | Smart Metering Systems Plc |
| 3.1551% | Diageo |
| 2.6127% | Supermarket Income Reit Plc Ord Gbp0.01 |
| 2.553% | National Grid Plc |
| 2.4062% | Direct Line Insurance Group Plc |
| 2.3249% | Anglo American |
| Source: Trustnet |
Sector breakdown
| Consumer Staples | 15.00% |
| Financials | 14.00% |
| Industrials | 14.00% |
| Health Care | 13.00% |
| Materials | 12.00% |
| Money Market | 7.00% |
| Energy | 6.00% |
| Information Technology | 5.00% |
| Consumer Discretionary | 4.00% |
| Utilities | 3.00% |
Key Investor Information