M&G DIVIDEND I

UK equity fund targeting a yield 33% above that of the FTSE All-Share

  • 1147.11p Price (Inc)
  • 1577.36p Price (Acc)
  • 0.00% 0.00%

    Initial charge
  • 0.75% Annual management charge
  • 0.91% Ongoing charges
  • 5.20% Yield

Fund data last updated 15 November 2019

This fund invests in high yielding UK equities, with the objective of growing income, as well as maximising total returns. The income target aims to be above the yield of the FTSE All-Share index. To achieve these targets the fund invests in a diversified portfolio across all market sectors and generally has a bias to large and mid cap stocks.

Fund summary

Sector UK Equity Income
Structure OEIC
Launched August, 2012
Size £1,143m
Yield 5.20%
Charging basis Capital
Dividends paid 28 Feb 31 Aug

Charges

Initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.91%

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Investment process

Manager research

Average monthly relative returns

Bestinvest MRI

14/15 15/16 16/17 17/18 18/19 3 years 5 years Career 3 years 5 years Career
0.44% -0.19% 0.11% -0.31% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 81.90%

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

Phil Cliff

Cliff joined M&G in January 2012 from Occam Asset Management, an investment boutique established by Jonathan Hughes- Morgan which he joined in September 2007. Prior to this, he worked as part of the European Equity team at Threadneedle (2001-2007) and Skandia Life where he was an Investment Consultant specialising in European equities and Global bonds. Cliff graduated in 1996 with a BSc (Hons) in Economics. He is an associate member of the UK Society of Investment Professionals (UKSIP).

Track record

Phil Cliff has 9.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +00%. During the worst period of relative performance (from September 2015 - November 2018) there was a decline of 13% relative to the index. The worst absolute loss has been 16%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is

Periods of worst performance

Absolute -16.00% (May 2007 - May 2012)
Relative -13.00% (September 2015 - November 2018)

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.

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Top 10 holdings

Data accurate as at 31 August 2019

6.6% Bp
5% Astrazeneca Plc
4.3% Imperial Brands Plc
3.9% British American Tobacco
3.7% Rio Tinto
3.7% Hsbc Hldgs
2.6% Glaxosmithkline
2.6% Royal Dutch Shell
2.6% Compass Group
2.5% Lloyds Banking Group Plc
Source: Trustnet

Sector breakdown

Financials 29.00%
Consumer Services 15.00%
Consumer Goods 14.00%
Oil & Gas 10.00%
Health Care 9.00%
Industrials 9.00%
Basic Materials 6.00%
Utilities 4.00%
Telecommunications 2.00%
Technology 1.00%

Portfolio

A diversified portfolio of around 90 stocks.

Key Investor Documents

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