M&G North American Dividend A

A North American equity fund paying an attractive yield.

  • 2187.24p Price (Inc)
  • 3084.32p Price (Acc)
  • 4.00% 0.00% Initial charge
  • 1.50% Annual management charge
  • 1.66% Ongoing charges
  • 1.90% Yield

Prices as at 10 December 2019, fund data last updated 02 November 2012

The fund invests in the shares of North American companies with the potential to grow their dividends over the long term. Its aim is to deliver a yield above the market average and grow distributions over the long term, whilst also maximising total return (the combination of income and growth of capital). The level of income may vary over time. The fund manager selects stocks with different drivers of dividend growth to construct a portfolio that can cope in a variety of market conditions.

Fund summary

Sector North America
Structure OEIC
Launched December, 1972
Size £635m
Yield 1.90%
Charging basis Income
Dividends paid 31 Oct

Charges

Standard initial charge 4.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.66%

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Investment process

This fund once had a strong track record under former manager Aled Smith, but returns were consistently poor following the financial crisis and we downgraded it to a sell rating in 2014. In April 2015 the fund was converted into an income mandate under a new manager, John Weavers.

Manager research

Average monthly relative returns

  • 14/15 0.00%
  • 15/16 -0.19%
  • 16/17 0.48%
  • 17/18 0.02%
  • 18/19 -0.25%

Bestinvest MRI

  • 3 years 0.08%
  • 5 years 0.00%
  • Career -0.08%
  • 3 years 76.10%
  • 5 years 0.00%
  • Career 50.00%

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

John Weavers

Weavers was appointed manager of the M&G North American Dividend Fund in April 2015; he has been a member of the income franchise since January 2012. He joined M&G as a graduate in 2007 and initially worked within the Equities Research team as an analyst. John graduated from Oxford University in 2006 with an honours degree in politics, philosophy and economics. He is a CFA charterholder.

Track record

John Weavers has 4.4 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.08%. During the worst period of relative performance (from May 2015 - July 2016) there was a decline of 10% relative to the index. The worst absolute loss has been 14%.

Periods of worst performance

Absolute -14.00% (September 2018 - December 2018)
Relative -10.00% (May 2015 - July 2016)

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

6.5% Microsoft Corp
5.6% Comcast Corp(New)
4.4% Constellation Brands Inc
4.1% Fidelity National Info Services Inc
4.1% Mondelez International Inc A
3.5% Oneok Inc
3.4% Unitedhealth Group Inc
3.1% Becton Dickinson & Co
3.1% Anthem Inc
3.1% Lowes Companies Inc
Source: Trustnet

Sector breakdown

Information Technology 21.00%
Financials 18.00%
Health Care 15.00%
Consumer Staples 9.00%
Consumer Discretionary 8.00%
Energy 8.00%
Communications 6.00%
Industrials 5.00%
Materials 4.00%
Real Estate 4.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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