Legg Mason IF Martin Currie Emerging Markets A

Taking advantage of equity investments in developing economies

  • 288.40p
    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!

  • 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).

  • 2.23%
    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.

  • 0.60%
    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 24 March 2020

Fund summary

Sector Global Emerging Markets
Structure OEIC
Launched June, 2015
Size £23m
Yield 0.60%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 5.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 2.23%

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Investment process

The fund's objective is to achieve long-term capital growth in emerging markets worldwide

Manager research

Average monthly relative returns

  • 15/16 -0.15%
  • 16/17 0.26%
  • 17/18 0.49%
  • 18/19 -0.05%
  • 19/20 0.45%

Bestinvest MRI

  • 3 years 0.30%
  • 5 years 0.20%
  • Career -0.13%
  • 3 years 97.40%
  • 5 years 96.80%
  • Career 41.70%

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

Kim Catechis

Catechis joined Martin Currie in October 2010 as Head of Global Emerging Markets. Prior to this he spent 12 years at Scottish Widows Investment Partnership (SWIP) performing the same duties. Before joining SWIP Katechis established and managed two asset‐management ventures in Spain: Eagle Star Inversiones and, earlier, FG Gestión. Katechis began his investment career as a portfolio manager for Edinburgh Fund Managers in 1987. He is fluent in French, German, Spanish, Portuguese and Greek, has intermediate Russian skills and is studying Mandarin. Katechis has an MBA and a BA in French and German from the University of Stirling.

Track record

Kim Catechis has 22.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.13%. During the worst period of relative performance (from January 1998 - September 2015) there was a decline of 46% relative to the index. The worst absolute loss has been 61%.

Periods of worst performance

Absolute -61.00% (July 1997 - September 2001)
Relative -46.00% (January 1998 - September 2015)

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 January 2020

8.01% Samsung Electronics Co
7.9% Taiwan Semiconductor Manufacturing
7.86% Alibaba Group Hldg Ltd
6.65% Tencent Hldgs Ltd
3.25% Cosan Ltd
2.92% Ping An Insurance(Gr)Co Of China
2.9% Otp Bank
2.84% Lukoil Pjsc
2.7% Industrial & Com Bk China
2.44% Titan Co Ltd
Source: Trustnet

Sector breakdown

Financials 26.00%
Information Technology 26.00%
Consumer Discretionary 18.00%
Communications 8.00%
Energy 8.00%
Materials 7.00%
Utilities 2.00%
Consumer Staples 2.00%
Health Care 2.00%
Cash & Cash Equivalents 2.00%

Key Investor Information

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