fund
Investec UK Alpha A
Growth-biased multicap UK equity fund with at least 50% in FTSE 100 stocks.
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2651.20p
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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4.50% 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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1.50%
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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1.60%
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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1.20%
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 fund targets long term capital growth, primarily through investment in UK equities from the FTSE 100 and FTSE 250 indices.
Fund summary
| Sector | UK All Companies |
| Structure | OEIC |
| Launched | February, 1979 |
| Size | £2,137m |
| Yield | 1.20% |
| Charging basis | Income |
| Dividends paid | Acc units only |
Charges
| Standard initial charge | 4.50% |
| Initial charge via Bestinvest | 0.00% |
| Additional bid/offer spread | 0.00% |
| Annual management charge | 1.50% |
| Ongoing charges figure | 1.60% |
Allocation
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Investment process
Manager research
Average monthly relative returns
- 14/15 0.00%
- 15/16 -0.42%
- 16/17 -0.04%
- 17/18 0.03%
- 18/19 0.05%
Bestinvest MRI
- 3 years 0.01%
- 5 years 0.00%
- Career 0.03%
- 3 years 69.90%
- 5 years 0.00%
- Career 93.30%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Simon Brazier
Born in 1975, Brazier holds a BA (Hons) in Economics and French from Durham University. His investment career commenced in 1998, upon joining Schroders where he spent a year as an assistant fund manager in both the UK Equity Department and the International Fixed Income Department. In 2000 he joined Schroder & Co as a fund manager in UK Equities. Brazier is a member of the UK Equity Strategy Team and an Associate Member of the UK Society of Investment Professionals. He joined Threadneedle as Co-Head of UK Equities in 2010.
Track record
Simon Brazier has 12.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.03%. During the worst period of relative performance (from July 2008 - December 2008) there was a decline of 9% relative to the index. The worst absolute loss has been 43%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 93%.
Periods of worst performance
| Absolute | -43.00% (May 2007 - February 2009) |
| Relative | -9.00% (July 2008 - 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 August 2019
| 5.7% | London Stock Exchange Group |
| 4.9% | Bp |
| 4.4% | Diageo |
| 4.2% | Tesco |
| 3.6% | British American Tobacco |
| 3.6% | Royal Dutch Shell |
| 3.5% | Relx Plc |
| 3.5% | Experian Plc |
| 3.4% | Unilever |
| 3.2% | Reckitt Benckiser Group Plc |
| Source: Trustnet |
Sector breakdown
| Financials | 21.00% |
| Consumer Goods | 18.00% |
| Industrials | 14.00% |
| Consumer Services | 12.00% |
| Oil & Gas | 10.00% |
| Health Care | 8.00% |
| Technology | 5.00% |
| Basic Materials | 5.00% |
| Money Market | 4.00% |
| Telecommunications | 2.00% |
Portfolio
50-90 stocks.
Constraints
Max 5% in one stock. Minimum 50% in FTSE 100 stocks. Max 10% total in small caps. Sector weights typically within 8% of benchmark. Typical 3-7% tracking error.
Key Investor Information