Lazard Multicap UK Income B

Targets income and capital growth from primarily UK equities.

  • 624.09p
    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.

  • 1534.99p
    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).

  • 1.32%
    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.

  • 3.90%
    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 23 January 2020

The objective of the fund is to achieve a reasonable level of income combined with capital growth from a portfolio of securities primarily made up of equity investments listed in the United Kingdom.

Fund summary

Sector UK Equity Income
Structure OEIC
Launched September, 1999
Size £69m
Yield 3.90%
Charging basis Capital
Dividends paid 28 Feb, 31 May, 31 Aug, 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 1.32%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 15/16 0.22%
  • 16/17 -0.30%
  • 17/18 0.08%
  • 18/19 0.33%
  • 19/20 -0.34%

Bestinvest MRI

  • 3 years 0.02%
  • 5 years 0.00%
  • Career -0.04%
  • 3 years 67.40%
  • 5 years 66.30%
  • Career 78.50%

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

Allan Clifford

Clifford is a member of Lazard’s UK Equity team, specifically responsible for managing the UK Small Cap Equity portfolios. He joined Lazard Asset Management in December 2002 having worked over the previous ten years within the UK Small Cap portfolio management team of Legal & General Investment Management, and prior to that within an accountancy role. Clifford is an Associate of the Institute of Investment Management and the Chartered Institute of Management Accountants. He obtained a BA (Hons) degree in Economics from Newcastle Polytechnic in 1989 and is based in London.

Track record

Allan Clifford has 16.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.04%. During the worst period of relative performance (from May 2008 - May 2017) there was a decline of 20% relative to the index. The worst absolute loss has been 53%.

Periods of worst performance

Absolute -53.00% (May 2007 - November 2008)
Relative -20.00% (May 2008 - May 2017)

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 30 November 2019

7.2% Royal Dutch Shell
5.4% Bp
4.1% Astrazeneca Plc
4.1% Glaxosmithkline
4.1% Unilever
3.9% Diageo
3.5% Hsbc Hldgs
3.5% Vodafone Group
3.2% Rio Tinto
3.1% Prudential Plc
Source: Trustnet

Sector breakdown

Financials 25.00%
Oil & Gas 13.00%
Consumer Goods 13.00%
Consumer Services 11.00%
Health Care 11.00%
Industrials 9.00%
Basic Materials 8.00%
Telecommunications 4.00%
Utilities 2.00%
Money Market 2.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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