Lazard Managed Balanced B

  • 182.09p
    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?

  • 3.75% 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!

  • 1.25%
    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).

  • 1.61%
    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.

  • 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…

Prices as at 25 November 2020

Fund summary

Sector Mixed Investment 40-85% Shares
Structure OEIC
Launched September, 1999
Size £33m
Yield 1.20%
Charging basis 50% Income 50% Capital
Dividends paid 31 May, 30 Nov

Charges

Standard initial charge 3.75%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.25%
Ongoing charges figure 1.61%

Allocation

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Investment process

The objective of the fund is to achieve capital growth whilst maintaining a reasonable yield through a diversified UK bias global equity portfolio with a selection of corporate bonds and gilts in one tax efficient structure.

Manager research

Average monthly relative returns

  • 15/16 0.07%
  • 16/17 0.41%
  • 17/18 0.05%
  • 18/19 0.06%
  • 19/20 0.55%

Bestinvest MRI

  • 3 years 0.22%
  • 5 years 0.23%
  • Career 0.06%
  • 3 years 87.10%
  • 5 years 95.40%
  • Career 94.50%

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

Mark Little

Little is a portfolio manager/ analyst specialising in UK and European Equities. He has been working in the investment field since 1993. Prior to joining Lazard in 1997, he was a corporate finance manager with Coopers & Lybrand and was associated with Rees Pollock Chartered Accountants. Little has a MA degree in Economics from Clare College, Cambridge University and is based in London.

Track record

Mark Little has 17.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.06%. During the worst period of relative performance (from May 2007 - November 2011) there was a decline of 20% relative to the index. The worst absolute loss has been 31%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 95%.

Periods of worst performance

Absolute -31.00% (May 2007 - February 2009)
Relative -20.00% (May 2007 - November 2011)

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

5.9% Astrazeneca Plc
4.6% Glaxosmithkline
4.4% Unilever
4.3% Rio Tinto
4% Bp
3.6% Diageo
3% Vodafone Group
2.8% Prudential Plc
2.8% British American Tobacco
2.7% Royal Dutch Shell Plc
Source: Trustnet

Sector breakdown

Equities 36.00%
Fixed Interest 29.00%
Financials 8.00%
Consumer Goods 7.00%
Health Care 5.00%
Consumer Services 4.00%
Industrials 4.00%
Oil & Gas 3.00%
Basic Materials 3.00%
Money Market 1.00%

Key Investor Information

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