Marlborough US Multi-Cap Income A

Targets an increasing level of income from mainly large cap North American equities.

  • 551.95p
    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?

  • 5.25% 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).

  • 1.80%
    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.

  • 1.50%
    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 08 April 2020

The objective of the fund is to achieve an increasing level of income with the potential for some capital appreciation. To attain its objective, the fund will invest mainly in transferable securities of North American listed and/or North American domiciled companies.

Fund summary

Sector North America
Structure UNIT TRUST
Launched September, 1983
Size £65m
Yield 1.50%
Charging basis Income
Dividends paid 10 Nov

Charges

Standard initial charge 5.25%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.80%

Allocation

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Investment process

To obtain capital growth by investing predominantly in securities of North American listed and/or North American domiciled companies.

Manager research

Average monthly relative returns

  • 15/16 -0.20%
  • 16/17 -0.45%
  • 17/18 -0.06%
  • 18/19 -0.15%
  • 19/20 1.20%

Bestinvest MRI

  • 3 years 0.33%
  • 5 years 0.07%
  • Career -0.06%
  • 3 years 95.50%
  • 5 years 77.30%
  • Career 61.40%

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

Emerson Investment Management

John D. (Jack) Lemery, CFA, is Emerson’s Chief Investment Officer and Managing Director.

Track record

Emerson Investment Management has 9.5 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.06%. During the worst period of relative performance (from September 2011 - March 2019) there was a decline of 20% relative to the index. The worst absolute loss has been 11%.

Periods of worst performance

Absolute -11.00% (August 2018 - December 2018)
Relative -20.00% (September 2011 - March 2019)

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 28 February 2020

6.5169% Microsoft Corp
4.9546% Apple Inc
4.4961% Steris Plc
4.3459% Cme Group Inc
4.3114% Berkley(W.r.)Corp
4.2312% Mastercard Inc
4.0942% Equinix Inc
3.9147% Air Products & Chemicals Inc
3.9144% Broadridge Finl Solutions Inc
3.8238% Lockheed Martin Corp
Source: Trustnet

Key Investor Information

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