fund

Rated

This is one of our rated funds. They’re the ones our experts believe will do well for investors over the longer term. Top of the class!

Findlay Park American GBP Unhedged

  • 13984.00p
    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!

  • 0.91%
    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).

  • 0.91%
    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 22 October 2021

The fund, run by London-based boutique Findlay Park, aims to achieve long-term capital growth by investing in large and mid-cap US equities. It seeks to outperform the Russell 1000 Index, which is a broad universe of stocks representative of the US market. Manager Anthony Kingsley believes he can generate these higher returns by taking less risk with his investments. This means investing in quality companies he would like to hold in any environment for the long-term. Kingsley takes a bottom-up investment approach, assessing each target stock with a thorough checklist of 29 questions, looking at areas such as corporate culture and the sustainability of returns. The fund’s holdings include tech titans Microsoft and Amazon and building materials group TopBuild.

Fund summary

Sector North America
Structure OFFSHORE FUND
Launched
Size £11,330m
Yield 0.00%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 0.91%
Ongoing charges figure 0.91%

Allocation

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Investment process

The fund’s investment process starts with a very simple premise – not to lose money in any individual investment. A 29-point checklist is key to the process and is used for new positions entering the portfolio, for existing stocks and those on a watchlist. This comprehensive analysis points the team in the direction of companies with conservative balance sheets, stable/predictable cash flows, a high degree of recurring revenues and good margin potential. The management team also looks for companies with pricing power, managers with a good capital allocation record and a strong corporate purpose and culture. In portfolio terms this means that the team prefer software and business services companies like Microsoft to consumer technology like Apple or Facebook. The portfolio typically holds between 40 and 60 names with most having a market value of over $100billion. Its biggest sector exposure is to information technology followed by consumer discretionary and communication services.

Manager Anthony Kingsley is highly experienced in the sector having worked on the fund since 2002. He can rely on the support of a 13-strong investment team. The managers have a very distinctive investment philosophy and process, believing they can generate higher returns for investors by taking less risk. This is counter to the popular notion that only by taking more risk will you make higher returns. The investment process, which revolves around a 29-question checklist, is rock solid and has created a diversified portfolio with a strong track record of outperformance. The fund could lag rising markets, but the ability to generate considerably above average returns with a below average probability of losing money is compelling. This prudent fund is a key option for investors looking for exposure to the US equities market.

Manager research

Average monthly relative returns

  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%
  • 20/21 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

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Portfolio

40-60 stocks.

Key Investor Information

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