Janus Henderson UK Smaller Companies I

  • 1391.00p
    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!

  • 0.75%
    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).

  • 0.85%
    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.

  • 0.40%
    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 16 September 2021

This London-listed investment trust aims to maximise total returns for shareholders by investing in smaller companies that are quoted in the UK. Smaller companies’ shares can be more volatile and less liquid than larger company shares, so smaller companies funds can carry more risk.

Fund summary

Sector UK Smaller Companies
Structure OEIC
Launched
Size £373m
Yield 0.40%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.85%

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Investment process

The portfolio is structured with the aim of outperforming the Numis Smaller Companies Index, which accounts for the equivalent of the bottom 10% of the FTSE All-Share index. The manager is, however, prepared to 'ride' his winning stocks until they enter the FTSE 100. The investment style follows a bottom up, quality GARP approach with the emphasis primarily on strength of business model (margin structure), management team, financial structure (cashflow) and earnings momentum. The valuation metrics used vary according to the sector being analysed; the most frequently used measures are EV/EBIT and P/E, which provide relative and absolute measures respectively. Low margin, low growth businesses or those whose value can be difficult to assess, such as technology or biotech companies, are typically avoided. Portfolio construction is primarily bottom up. Stock ideas are the result of company meetings, third party research, earnings surprises / revisions. Portfolio turnover is generally low.

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

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Sector breakdown

Industrials 34.00%
Financials 20.00%
Consumer Goods 12.00%
Consumer Services 11.00%
Technology 8.00%
Health Care 6.00%
Basic Materials 3.00%
Oil & Gas 3.00%
Telecommunications 2.00%
Money Market 1.00%

Portfolio

Approximately 90 holdings, individual positions will not usually exceed 3%. Portfolio turnover is generally low.

Key Investor Information

Download