Legg Mason IF Martin Currie Global Equity Income A

Worldwide equity fund targeting a yield above that of the MSCI World

  • 135.20p
    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.

  • 202.90p
    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?

  • 4.25% 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.

  • 3.80%
    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 11 December 2019

Fund summary

Sector Global Equity Income
Structure OEIC
Launched June, 2015
Size £158m
Yield 3.80%
Charging basis Capital
Dividends paid 30 Apr, 30 Oct

Charges

Standard initial charge 4.25%
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 objective is to provide an income in excess of the MSCI World index dividend yield as well as the potential for capital appreciation.

Manager research

Average monthly relative returns

  • 14/15 -0.61%
  • 15/16 -0.40%
  • 16/17 -0.27%
  • 17/18 -0.58%
  • 18/19 0.34%

Bestinvest MRI

  • 3 years -0.17%
  • 5 years -0.30%
  • Career -0.25%
  • 3 years 29.80%
  • 5 years 5.30%
  • Career 11.30%

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

Alan Porter

Porter joined Martin Currie in 2008 and is an investment manager in their global team. He previously worked as a research analyst at BlueSilver Alternative Ltd and, earlier, at Insight Investment, where he was responsible for analysing European equities. Having started his investment career as a trainee fund manager with Scottish Amicable Investment Managers, He went on to manage European funds for Hill Samuel Asset Management Ltd and Old Mutual Asset Managers Ltd. He has also worked in research marketing for Schroder Salomon Smith Barney.

Track record

Alan Porter has 8.9 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.25%. During the worst period of relative performance (from September 2011 - October 2018) there was a decline of 29% relative to the index. The worst absolute loss has been 12%.

Periods of worst performance

Absolute -12.00% (March 2015 - September 2015)
Relative -29.00% (September 2011 - October 2018)

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 August 2019

5.41% Microsoft Corp
4.02% Crown Castle International Corp
3.63% Verizon Communications Inc
3.58% Danone
3.52% Lockheed Martin Corp
3.1% Airbus Se
3.04% Zurich Insurance Group Ltd
3.03% Taiwan Semiconductor Manufacturing
3% Transurban Group
2.86% Bce Inc
Source: Trustnet

Sector breakdown

Industrials 16.00%
Consumer Staples 15.00%
Information Technology 13.00%
Financials 10.00%
Communications 9.00%
Health Care 8.00%
Materials 7.00%
Consumer Discretionary 6.00%
Utilities 5.00%
Real Estate 4.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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