fund
Liontrust MA Active Moderate Income A
Fund of external fixed interest funds.
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125.70p
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.
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153.90p
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?
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0.00%
Initial chargeSome 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!
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0.75%
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).
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1.57%
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.
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1.30%
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…
Fund summary
| Sector | Mixed Investment 0-35% Shares |
| Structure | OEIC |
| Launched | July, 2012 |
| Size | £19m |
| Yield | 1.30% |
| Charging basis | Capital |
| Dividends paid | 28 Feb, 31 May, 31 Aug, 30 Nov |
Charges
| Standard initial charge | 0.00% |
| Initial charge via Bestinvest | 0.00% |
| Additional bid/offer spread | 0.00% |
| Annual management charge | 0.75% |
| Ongoing charges figure | 1.57% |
Allocation
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Investment process
This Fund aims to provide a higher level of income relative to prevailing interest rates. The Fund may invest directly in individual securities managed by a variety of external investment mandates and through collective investment schemes. Initially, the Fund is likely to be invested totally in collective investment schemes and as the Fund develops the Manager will use a strategy of the combination of both external investment mandates and collective investment schemes to achieve the Fund's objective. The Fund may also invest in transferable securities, money market instruments, warrants, cash and deposits.
Manager research
Average monthly relative returns
- 16/17 -0.34%
- 17/18 0.14%
- 18/19 -0.35%
- 19/20 -0.21%
- 20/21 0.18%
Bestinvest MRI
- 3 years -0.13%
- 5 years -0.12%
- Career -0.10%
- 3 years 52.00%
- 5 years 52.80%
- Career 68.10%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Axa Multimanager Team
Track record
Axa Multimanager Team has 15.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.1%. During the worst period of relative performance (from June 2009 - March 2020) there was a decline of 24% relative to the index. The worst absolute loss has been 33%.
Periods of worst performance
| Absolute | -33.00% (October 2007 - November 2008) |
| Relative | -24.00% (June 2009 - March 2020) |
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 July 2020
| 11.984% | Vanguard Uk Government Bond Index Institutional Plus Acc Gbp |
| 11.9317% | Ishares Uk Gilts All Stocks Index (Uk) L Acc |
| 10.0272% | Liontrust Sustainable Future Corporate Bond 6 Acc |
| 5.7182% | Nn Investment Partners Lux Sa |
| 4.9971% | Baring Global High Yield Bond Tranche B Acc Gbp |
| 4.884% | Vanguard Uk Long Duration Gilt Index Inc Gbp |
| 4.8542% | Ishares Overseas Government Bond Index (Uk) L Acc |
| 4.5383% | Lindsell Train Lf Lindsell Train Uk Equity Acc |
| 3.9575% | Ab American Growth Portfolio S1 Usd |
| 3.9249% | Artemis Income I Acc |
| Source: Trustnet |
Sector breakdown
| Non-Rated | 100.00% |