M&G High Income - Income & Growth Units

  • 53.00p
    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!

  • 1.00%
    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).

  • 1.00%
    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.

  • 12.00%
    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…

This trust invests principally in high yielding large cap UK equities, though the portfolio will also include smaller stocks and some fixed interest securities. The Income & Growth units comprise one Income share and one Capital share. The trust has a 20 year life and is scheduled to wind up on 17th March 2017.

Fund summary

Sector UK Equity and Bond Income
Structure X-INVESTMENT TRUST
Launched
Size £2,015m
Yield 12.00%
Charging basis
Dividends paid Feb, May, Aug, Nov

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 1.00%
Ongoing charges figure 1.00%

Allocation

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Investment process

The company's investment policy is to achieve an above average and increasing income over its 20 year life while at the same time seeking to achieve capital growth. The company's portfolio comprises mainly high yielding shares of UK companies listed on the London Stock Exchange. Most of the portfolio will consist of FTSE 100 stocks, though typically 10-25% will be invested in stocks outside this index and around 15% will be invested in fixed interest securities. The fixed interest allocation may include both gilts, investment grade corporate bonds (including convertibles) and preference shares.

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

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

Track record

Periods of worst performance

Absolute 0.00% ()
Relative 0.00% ()

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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Allocation

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Sector breakdown

Others 29.00%
Financials 17.00%
Consumer Goods 10.00%
Oil & Gas 8.00%
Health Care 6.00%
Consumer Services 6.00%
Industrials 5.00%
Basic Materials 5.00%
Utilities 4.00%
Telecommunications 4.00%

Portfolio

The equities portfolio will typically comprise 60-120 holdings.

Key Investor Information

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