ES River and Mercantile UK Equity Recovery B

  • 1231.77p
    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?

  • 5.25% 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!

  • 1.00%
    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).

  • 1.24%
    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.

  • 0.60%
    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 30 July 2021

Fund summary

Sector UK All Companies
Structure OEIC
Launched April, 2009
Size £218m
Yield 0.60%
Charging basis Income
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 1.00%
Ongoing charges figure 1.24%

Allocation

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Investment process

The investment objective of the Fund is to achieve capital growth through investing in a portfolio which will primarily consist of UK equities that meet the manager’s recovery criteria of a turnaround in company profitability over the longer term. The Fund will not be restricted by reference to a benchmark, sector constraints or company size.

Manager research

Average monthly relative returns

  • 16/17 0.99%
  • 17/18 0.38%
  • 18/19 -0.40%
  • 19/20 -0.32%
  • 20/21 1.59%

Bestinvest MRI

  • 3 years 0.29%
  • 5 years 0.45%
  • Career 0.20%
  • 3 years 82.10%
  • 5 years 97.70%
  • Career 96.60%

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

Hugh Sergeant

Sergeant graduated from the London School of Economics in 1987 with an economics degree and joined Gartmore Investment Limited as a trainee manager. He spent two years in UK equity research before taking on fund management responsibility for unit trusts and pension funds. He joined UBS Global Asset Management as a pension fund manager in 1990, specialising in the management of UK equities. In 1997 Sergeant was made Head of Smaller Companies and in 1998 launched the UK Smaller Companies Fund. In March 2000 he was appointed Head of UK Equities and Chairman of the UK Equity subcommittee. He joined SGAM in 2002 where he was Head of UK Equities. He joined River and Mercantile in August 2006, where he is Head of the UK Equity team at River and Mercantile with overall responsibility for managing and developing the team

Track record

Hugh Sergeant has 14.6 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.2%. During the worst period of relative performance (from January 2007 - January 2009) there was a decline of 22% relative to the index. The worst absolute loss has been 52%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 97%.

Periods of worst performance

Absolute -52.00% (May 2007 - February 2009)
Relative -22.00% (January 2007 - January 2009)

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.

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Top 10 holdings

Data accurate as at 31 July 2020

2.0192% Prudential Plc
1.9743% Royal Dutch Shell Plc
1.8692% Anglo American
1.7893% Rio Tinto
1.7173% Bhp Group Plc
1.6846% Hsbc Hldgs
1.6367% Lloyds Banking Group Plc
1.4039% Bp
1.3929% Barclays
.9806% Boku Inc
Source: Trustnet

Sector breakdown

Financials 20.00%
Consumer Discretionary 16.00%
Industrials 15.00%
Materials 11.00%
Communications 8.00%
Energy 8.00%
Information Technology 8.00%
Consumer Staples 7.00%
Health Care 3.00%
Real Estate 3.00%

Key Investor Information

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