LF Stewart Ivory Investment Markets

  • 676.64p
    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.

  • 1355.48p
    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?

  • 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!

  • 1.00%
    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).

  • 1.16%
    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.

  • 2.30%
    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 November 2020

Fund summary

Sector Flexible Investment
Structure UNIT TRUST
Launched September, 1989
Size £21m
Yield 2.30%
Charging basis
Dividends paid

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread -4.51%
Annual management charge 1.00%
Ongoing charges figure 1.16%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 15/16 0.45%
  • 16/17 0.14%
  • 17/18 0.36%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.25%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 94.20%

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

Gareth Howlett

Track record

Gareth Howlett has 5.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.25%. During the worst period of relative performance (from February 2009 - August 2009) there was a decline of 6% relative to the index. The worst absolute loss has been 31%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 94%.

Periods of worst performance

Absolute -31.00% (October 2007 - February 2009)
Relative -6.00% (February 2009 - August 2009)

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 2016

3.66% Phoenix Wealth Stewart Investors Asia Pacific Leaders Pn Gbp
3.13% Scottish Mortgage Investment Trust Plc
2.86% British American Tobacco
2.74% Findlay Park American Gbp
2.69% Medicx
2.59% Aberforth Sml Ord Gbp0.01
2.57% Sage Group
2.55% Roche Hldg Ag
2.4% Bunzl
2.39% Polar Capital Technology Trust Plc Ord 25p
Source: Trustnet

Sector breakdown

Financials 16.00%
Industrials 14.00%
Consumer Goods 9.00%
Consumer Services 9.00%
Europe ex UK Equities 8.00%
Health Care 8.00%
North American Equities 7.00%
Asia/Pacific Equities 5.00%
Technology 5.00%
Basic Materials 4.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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