LF Miton Defensive Multi Asset A

Multi-asset portfolio investing in both funds and direct investments.

  • 334.30p
    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?

  • 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).

  • 1.85%
    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.

  • 1.00%
    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 13 December 2019

The investment objective of the fund is to provide long-term growth. The fund’s policy is to invest substantially in other authorised funds, but may also invest in UK and overseas equities, fixed interest securities and money market instruments.

Fund summary

Sector Mixed Investment 0-35% Shares
Structure OEIC
Launched December, 1996
Size £59m
Yield 1.00%
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 1.85%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 14/15 0.00%
  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.39%
  • 18/19 0.40%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.40%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 89.10%

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

David Jane

Jane founded Darwin Investment Managers in September 2010. He was previously head of Equities Investment at M&G from May 2002, having joined the company in 2000. He began his investment career in 1987 with United Friendly Assurance, then worked at Newton as Director of Global Financials Research before joining AXA Investment Management as Head of Global Financials Research. He graduated from Keele University with a BA in Statistics & Economics. Jane was born in 1965.

Track record

David Jane has 2.6 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.4%. During the worst period of relative performance (from August 2002 - February 2003) there was a decline of 8% relative to the index. The worst absolute loss has been 37%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 89%.

Periods of worst performance

Absolute -37.00% (June 2001 - March 2003)
Relative -8.00% (August 2002 - February 2003)

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

6.11% Etfs Gold Bullion Securities Usd
2.21% United States Of Amer Treas Bonds 4.5% Tb 15/05/38 Usd1000
2.05% United States Of Amer Treas Bills 3% Tnt 15/08/48 Usd100
1.73% Hm Treasury United Kingdom Dmo 4.25% Gilt 07/12/49 Gbp0.01
1.63% Ishares $ High Yield Corp Bond Ucits Etf Usd
1.28% Twentyfour Monument Bond I Net Inc Gbp
1.16% Etfs Physical Silver Usd
.98% Hm Treasury United Kingdom Dmo 1.75% Treasury Gilt 22/01/49 Gbp0.01
.87% Brazil(Federative Republic Of) 4.625% Bds 13/01/28 Usd200000
.81% Twentyfour Income Limited Ord Red 1p
Source: Trustnet

Sector breakdown

Fixed Interest 25.00%
Money Market 13.00%
Mutual Funds 12.00%
Banks 6.00%
Utilities 5.00%
Real Estate 5.00%
Software 4.00%
Transport 4.00%
Food, Beverages and Tobacco 3.00%
Telecommunications Utilities 3.00%

Key Investor Information

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