M&G Episode Allocation I

Invests in funds and direct holdings across a range of asset classes.

  • 1348.20p
    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.

  • 1607.22p
    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!

  • 0.65%
    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).

  • 0.88%
    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.

  • 2.10%
    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 19 January 2021

Fund summary

Sector Mixed Investment 20-60% Shares
Structure OEIC
Launched August, 2012
Size £483m
Yield 2.10%
Charging basis Capital
Dividends paid 31 Mar 30 Jun 30 Sep 31 Dec

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.65%
Ongoing charges figure 0.88%

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Investment process

The fund’s objective is to maximise total return (the combination of income and growth of capital) through investment in a diversified range of asset types. Subject to this, the fund aims to grow income in the long term. The fund invests mainly in securities, fixed income assets, warrants, money market instruments, deposits, cash, near-cash and property via collective investment schemes and, with the exception of property, by investing directly in these assets. The fund may also invest directly in derivative instruments for the purposes of investment and efficient portfolio management. The fund will invest no more than 60% of its portfolio in equities.

Manager research

Average monthly relative returns

  • 16/17 -0.64%
  • 17/18 0.38%
  • 18/19 -0.62%
  • 19/20 0.14%
  • 20/21 0.32%

Bestinvest MRI

  • 3 years -0.05%
  • 5 years -0.08%
  • Career -0.10%
  • 3 years 52.80%
  • 5 years 49.60%
  • Career 50.80%

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

Juan Nevado / Jenny Rodgers

Nevado joined PPM (now M&G) in 1988 and has been working as part of the macro investment team led by Dave Fishwick since 1999. Prior to joining M&G, Juan worked as a bond economist at the Bank of Montreal, and, before that as an economist for the Commodities Research Unit, a private business consultancy specialising in macro/micro research on commodities markets. In January 2011, Nevado was appointed co-manager of the M&G Managed Fund, the M&G Cautious Multi Asset Fund and the M&G Global Dynamic Allocation Fund. Nevado has a BSc in economics from the LSE, and, an MA in economics from Warwick University. Rodgers joined PPM (now M&G) in 1994 as an analyst of European equity markets and a portfolio manager for external clients. She has been in her current role as a member of the macro investment team since 1999. In January 2011, Jenny was appointed co-manager of the M&G Managed Fund. Rodgers is a CFA charterholder and has a BA honours in economics from Exeter University.

Track record

Juan Nevado / Jenny Rodgers has 9.9 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 February 2011 - August 2019) there was a decline of 21% relative to the index. The worst absolute loss has been 18%.

Periods of worst performance

Absolute -18.00% (December 2019 - March 2020)
Relative -21.00% (February 2011 - August 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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Sector breakdown

Equities 46.00%
Government Bonds 18.00%
Money Market 17.00%
Property Shares 7.00%
Corporate Bonds 7.00%
Fixed Interest 4.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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