Lazard UK Smaller Companies B

Invest in the bottom 10% by market cap of UK companies.

  • 2228.30p
    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!

  • 1.50%
    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).

  • 1.58%
    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 23 January 2020, fund data last updated 01 April 2002

Fund summary

Sector UK Smaller Companies
Structure OEIC
Launched September, 1999
Size £28m
Yield 1.20%
Charging basis
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 1.50%
Ongoing charges figure 1.58%

Allocation

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Investment process

The fund objective is to achieve capital growth at a greater rate than the Numis Small Companies Index. The fund's performance target is to outperform the Numis Smaller Companies (ex Investment Trusts) Index by 3% per annum (gross of fees) on a rolling 3 to 5 year basis.

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

1.9% Galliford Try Plc
1.9% Safestore Hldgs Plc
1.8% Paragon Banking Group Plc
1.7% Brewin Dolphin Hldgs
1.7% Computacenter
1.7% Morgan Advanced Materials Plc
1.7% Sthree Plc
1.7% Volution Group Plc
1.6% Rm Plc
1.6% Synthomer Plc
Source: Trustnet

Sector breakdown

Industrials 30.00%
Financials 26.00%
Technology 12.00%
Consumer Services 10.00%
Consumer Goods 6.00%
Oil & Gas 5.00%
Basic Materials 5.00%
Health Care 4.00%
Money Market 2.00%

Key Investor Information

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