HL MM Special Situations Trust A

  • 425.89p
    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!

  • 0.75%
    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).

  • 2.01%
    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.

  • 0.90%
    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 25 January 2021

Fund summary

Sector Global
Structure UNIT TRUST
Launched April, 2001
Size £1,736m
Yield 0.90%
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 2.01%

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Investment process

The HL Multi-Manager Special Situations Trust’s objective is to provide long- term capital growth. It aims to achieve this by investing principally with dynamic, driven fund managers often found working within smaller ‘boutique’ investment houses.

Manager research

Average monthly relative returns

  • 16/17 -0.41%
  • 17/18 0.28%
  • 18/19 -0.20%
  • 19/20 -0.42%
  • 20/21 0.43%

Bestinvest MRI

  • 3 years -0.06%
  • 5 years -0.06%
  • Career 0.07%
  • 3 years 66.30%
  • 5 years 69.90%
  • Career 96.30%

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

Lee Gardhouse

Gardhouse holds a BA Hons degree in Economics from Liverpool John Moores University. He has been part of the investment team at Hargreaves Lansdown since 1995, specialising in the Investment Trust and Multi-manager arenas. He is an Associate of the Society of Investment Professionals.

Track record

Lee Gardhouse has 18.5 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.07%. During the worst period of relative performance (from February 2007 - December 2008) there was a decline of 22% relative to the index. The worst absolute loss has been 40%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 96%.

Periods of worst performance

Absolute -40.00% (October 2007 - February 2009)
Relative -22.00% (February 2007 - December 2008)

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

15.5797% Findlay Park American Dollar Usd
6.9983% Stewart Investors Asia Pacific Leaders B Acc Gbp
6.9023% First State Asia All Cap B Acc Gbp
6.9001% Lindsell Train Global Equity D
5.5794% Barings Europe Select Trust I Inc Gbp
5.4675% Tm Crux European Special Situations I Acc Gbp
4.9741% Man Glg Japan Core Alpha C Professional Acc
4.9304% Rathbone Global Opportunities Fund S Acc Gbp
4.2755% Lf Majedie Uk Equity X Acc Gbp
4.0396% Comgest Growth Emerging Markets Acc Usd
Source: Trustnet

Key Investor Information

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