Man GLG UK Income R

Targets an income above the FTSE All-Share from UK equities.

  • 85.78p
    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.

  • 207.10p
    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).

  • 1.72%
    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.

  • 6.70%
    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 18 September 2020, fund data last updated 01 August 2003

The objective of the fund is to achieve a level of income above the FTSE All-Share Index together with some capital growth through investing, directly or indirectly, primarily in UK equities or in the equities of companies which derive a substantial part of their revenues from activities in the UK.

Fund summary

Sector UK Equity Income
Structure OEIC
Launched March, 1999
Size £1,027m
Yield 6.70%
Charging basis Capital
Dividends paid 30 Apr, 31 Oct

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 1.72%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 15/16 -0.51%
  • 16/17 0.73%
  • 17/18 0.24%
  • 18/19 -0.64%
  • 19/20 -0.50%

Bestinvest MRI

  • 3 years -0.30%
  • 5 years -0.14%
  • Career 0.21%
  • 3 years 27.80%
  • 5 years 42.90%
  • Career 95.30%

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

Henry Dixon

Dixon, CFA, is a portfolio manager on the UK Equities team at GLG, having joined in October 2013. Prior to joining GLG, he was a portfolio manager and founder of Matterley where he ran the Undervalued Assets Fund. Prior to that he worked at New Star where he managed the British Lion Portfolio and The Family Charities Ethical Trust. He also co-managed the New Star Equity Income Fund and assisted managing the Institutional Fund.

Track record

Henry Dixon has 12 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.21%. During the worst period of relative performance (from March 2018 - July 2020) there was a decline of 18% relative to the index. The worst absolute loss has been 35%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 95%.

Periods of worst performance

Absolute -35.00% (September 2008 - February 2009)
Relative -18.00% (March 2018 - July 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

5.6005% Glaxosmithkline
4.4311% British American Tobacco
3.9851% Royal Dutch Shell Plc
3.1448% Anglo American
3.1059% Qinetiq Group
2.8046% Rio Tinto
2.7687% Euronav
2.7034% Morrison(Wm.)Supermarkets
2.6534% Legal & General Group
2.6512% Tesco
Source: Trustnet

Sector breakdown

Financials 30.00%
Consumer Staples 14.00%
Consumer Discretionary 12.00%
Materials 11.00%
Energy 10.00%
Industrials 10.00%
Health Care 6.00%
Utilities 3.00%
Real Estate 2.00%
Information Technology 2.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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