Invesco UK Smaller Companies Equity (UK) Y

  • 468.81p
    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.

  • 511.66p
    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!

  • 0.87%
    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).

  • 0.87%
    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.

  • 0.50%
    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 27 September 2021, fund data last updated 19 June 2014

The fund aims to achieve capital growth by investing primarily in shares of smaller companies in the UK. The fund is benchmarked against the Numis Index, which measures the performance of the lowest tenth by value of the main UK equity market. Relative to peer group funds, the fund has more of a focus on quality companies at a reasonable price. The manager also runs an investment trust with a similar mandate which has outperformed the OEIC vehicle over the long term.

Fund summary

Sector UK Smaller Companies
Structure OEIC
Launched
Size £779m
Yield 0.50%
Charging basis Income
Dividends paid 30 Sep

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 0.87%
Ongoing charges figure 0.87%

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Investment process

Benchmarked for performance purposes against the Numis Smaller Companies Index, which measures the performance of the lowest tenth by value of the main UK equity market, this fund aims to achieve capital growth, investing mainly in shares of smaller companies in the UK. The manager has a bias to the larger small companies. Idea generation comes from a number of sources including in-house research analyst team, primary markets and brokers contacts. The macroeconomic views may also highlight a particular area of the market for closer inspection and often shape the bottom-up research. The manager takes a fundamental approach to investment and targets companies that are growing, relative to the economic environment; can display quality and durability in terms of the products and services they provide; have financial strength relative to their own business environment; and whose share price is attractive in relation to the quality and growth prospects. The portfolio construction is based on the outputs of bottom-up stock research, which is informed by the top-down macro views. Portfolio is well diversified which means that individual stock positions would rarely exceed 4% of the total portfolio. There is a contrarian style tilt as the manager will top-slice positions in stocks where prices have been appreciating, and will build up holdings in stocks that have been in decline, provided the business cases are still intact.

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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Sector breakdown

Industrials 34.00%
Consumer Discretionary 27.00%
Technology 12.00%
Financials 9.00%
Real Estate 6.00%
Health Care 4.00%
Basic Materials 3.00%
Consumer Staples 2.00%
Energy 2.00%
Money Market 1.00%

Portfolio

The manager holds a well-diversified portfolio of around 100 stocks. The top ten will usually account for around 15–20% of the portfolio.

Key Investor Information - Income

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Key Investor Information - Accumulation

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