JO Hambro CM UK Growth A GBP

  • 419.20p
    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.

  • -
    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?

  • 5.00% 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).

  • 0.90%
    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 18 June 2021

The manager joined JO Hambro from Clerical Medical in order to launch and manage this UK Growth fund. The style is fundamentally bottom up constructing a concentrated portfolio with a ruthless sell discipline. The fund is unusual in that is has a performance related fee, which could make the fund expensive when compared to peers.

Fund summary

Sector UK All Companies
Structure OFFSHORE FUND
Launched May, 2003
Size £475m
Yield 0.50%
Charging basis
Dividends paid 28 Feb

Charges

Standard initial charge 5.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.90%

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Investment process

The investment objective of the Fund is to achieve long term capital growth in excess of the FTSE All-Share Index. The investment policy will be to seek opportunities in what the Investment Manager considers to be solid, well-managed UK companies capable of generating growth throughout the economic cycle. The Fund will maintain a balanced portfolio of such investments, consisting solely of equities, derived primarily from companies listed on the London Stock Exchange. The investment process is split into four parts: firstly the manager seeks to understand what he invests within e.g. the drivers of the share price. Secondly, investing within good companies is a prerequisite and thirdly a concentrated portfolio is constructed with robust risk controls. Finally a ruthless sell discipline is imposed to ensure that only stocks with the greatest potential remain in the portfolio.

Manager research

Average monthly relative returns

  • 16/17 0.03%
  • 17/18 0.11%
  • 18/19 0.04%
  • 19/20 -0.95%
  • 20/21 1.76%

Bestinvest MRI

  • 3 years 0.28%
  • 5 years 0.20%
  • Career 0.29%
  • 3 years 50.00%
  • 5 years 50.00%
  • Career 99.40%

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

Mark Costar

Mark Costar joined JO Hambro in August 2001 from Clerical Medical where he spent 9 years, managing the UK Growth fund from July 1996 until May 2001. Prior to this he worked for Quick Europe as a market researcher covering Japanese and UK equities and derivatives. Costar holds a degree in industrial economics from the University of Warwick.

Track record

Mark Costar has 12.4 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.29%. During the worst period of relative performance (from February 2005 - March 2008) there was a decline of 16% 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 more than 99%.

Periods of worst performance

Absolute -40.00% (May 2007 - February 2009)
Relative -16.00% (February 2005 - March 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.

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Key Investor Information

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