JPM US Small Cap Growth A

Aims for long term capital growth by investing in smaller US companies

  • 289.10p
    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.

  • 1103.00p
    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?

  • 3.00% 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!

  • 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).

  • 1.68%
    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.

  • 0.00%
    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 26 November 2020

The objective of the fund is to provide long-term capital growth by investing predominantly in US smaller companies. The fund may use traded options and other derivative products, and may engage in currency hedging activities in accordance with the relevant regulations. The fund may also hold convertible stocks and cash where appropriate.

Fund summary

Sector North American Smaller Cos
Structure OEIC
Launched May, 1987
Size £302m
Yield 0.00%
Charging basis Income
Dividends paid 28 Feb

Charges

Standard initial charge 3.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.68%

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Investment process

The fund's investment objective is to provide long-term capital growth by investing primarily in US smaller companies.

Manager research

Average monthly relative returns

  • 15/16 -0.22%
  • 16/17 0.86%
  • 17/18 0.58%
  • 18/19 0.69%
  • 19/20 2.50%

Bestinvest MRI

  • 3 years 1.26%
  • 5 years 0.88%
  • Career 0.02%
  • 3 years 99.70%
  • 5 years 99.30%
  • Career 78.80%

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

Eytan Shapiro

Eytan Shapiro, vice president, is a portfolio manager and analyst on the US equity team. An employee since 1985, he was previously an analyst specialising in small companies. Prior to this, he was a director and a manager in the research department, responsible for the media and capital goods sectors and subsequently served as a portfolio manager at Jardine Fleming Investment Management. Before this, he worked as an investment analyst for Philips & Drew in London. Shapiro obtained a BSc in economics from the City University, London and an MPhil in economics from Oxford University. He is a member of both the New York Society of Securities Analysts and the Association for Investment Management Research. He is a holder of the CFA designation.

Track record

Eytan Shapiro has 26 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.02%. During the worst period of relative performance (from June 2000 - October 2008) there was a decline of 57% relative to the index. The worst absolute loss has been 67%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 79%.

Periods of worst performance

Absolute -67.00% (August 2000 - September 2002)
Relative -57.00% (June 2000 - October 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

1.8% Lithia Motors Inc
1.8% Inphi Corp
1.5% Advanced Drainage System Inc
1.5% Entegris Inc
1.5% Natera Inc
1.5% John Bean Technologies Corp
1.5% Freshpet Inc
1.4% National Vision Hldgs Inc
1.4% Envestnet Inc
1.4% Mks Instrument
Source: Trustnet

Sector breakdown

Health Care 28.00%
Technology 23.00%
Consumer Discretionary 19.00%
Producer Durables 11.00%
Financial Services 7.00%
Materials & Processing 4.00%
Consumer Staples 4.00%
Energy 2.00%
Money Market 1.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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