Manek Growth

Poor risk control and performance has led to a sell recommendation.

  • 41.47p
    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?

  • 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).

  • 2.23%
    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.

  • 0.00%
    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…

Fund data last updated 07 August 2003

The manager aims to achieve long-term capital growth and has the freedom to invest in the whole spectrum of market capitalisation in the UK but has a notable bias towards growth stocks. Furthermore, he also holds a significant number of US stocks. This raises concerns, however, regarding the size of the funds investigable universe relative to its actual resources in research. The lack of risk controls on the fund is another factor leading to us awarding the fund a one star (sell) rating.

Fund summary

Sector Specialist
Structure X-UNIT TRUST
Launched December, 1997
Size £0m
Yield 0.00%
Charging basis Income
Dividends paid

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 2.23%

Allocation

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Investment process

The Manek Growth Fund (“the Fund”) aims to achieve long-term capital growth by investment in UK equities whilst retaining the flexibility to invest worldwide in any economic sector. The Fund’s investment policy is to combine growth, value and momentum strategies. This is the only fund run by Manek Investments and the fund will therefore correspond with the managers overall macroeconomic views.

Manager research

Average monthly relative returns

  • 14/15 -0.45%
  • 15/16 -1.52%
  • 16/17 -0.05%
  • 17/18 -1.59%
  • 18/19 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career -0.67%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 9.00%

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

Jayesh Manek

Jayesh Manek is well known as the winner of The Sunday Times Fantasy Fund Manager competitions in 1994 and 1995. Subsequently his stock picking ability attracted the attention of Sir John Templeton, the investment guru who founded Templeton Investments in 1954. In July 1995 Sir Templeton asked Jayesh Manek to manage £5 million of his personal funds. He added a further £5 million in June 1996. In December 1997, this portfolio, worth over £14.5m by then, was transferred into the Manek Growth Fund on its launch.

Track record

Jayesh Manek has 20 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.67%. During the worst period of relative performance (from February 2000 - December 2017) there was a decline of 93% relative to the index. The worst absolute loss has been 83%.

Periods of worst performance

Absolute -83.00% (February 2000 - November 2017)
Relative -93.00% (February 2000 - December 2017)

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 01 June 2017

9% Rhythmone Plc
6.9% Chemring Group
6.6% Shire Plc
6.3% Reckitt Benckiser Group Plc
4.9% British Sky Broadcasting Gro
4.7% Man Group Plc
3.9% Aggreko
3.9% Hikma Pharmaceuticals
3.9% Nvidia Corp
3.9% Playtech Co Ltd
Source: Trustnet

Portfolio

The portfolio holds some 60 stocks 14 of them are in the US. Turnover is high at just under 200%.

Constraints

No constraints are imposed on the manager's stock picking style.

Key Investor Information

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