M&G North American Dividend I

A North American equity fund paying an attractive yield.

  • 3407.02p
    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.

  • 3929.64p
    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!

  • 0.75%
    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).

  • 0.91%
    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 17 September 2021, fund data last updated 15 July 2013

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 August, 2012
Size £0m
Yield 1.50%
Charging basis Income
Dividends paid 31 Oct

Charges

Standard 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

  • 16/17 0.55%
  • 17/18 0.12%
  • 18/19 -0.16%
  • 19/20 -0.59%
  • 20/21 -0.12%

Bestinvest MRI

  • 3 years -0.29%
  • 5 years -0.04%
  • Career -0.15%
  • 3 years 16.90%
  • 5 years 59.10%
  • Career 33.70%

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 6.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.15%. During the worst period of relative performance (from June 2018 - August 2021) there was a decline of 14% relative to the index. The worst absolute loss has been 17%.

Periods of worst performance

Absolute -17.00% (July 2019 - March 2020)
Relative -14.00% (June 2018 - August 2021)

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 July 2020

8.5% Microsoft Corp
5.5% Visa Inc
4.2% Fidelity National Info Services Inc
4% Broadcom Inc
3.9% Anthem Inc
3.9% Lam Research Corp
3.8% Unitedhealth Group Inc
3.7% Constellation Brands Inc
3.7% Lowes Companies Inc
2.9% Harris Corp
Source: Trustnet

Sector breakdown

Information Technology 37.00%
Health Care 16.00%
Financials 12.00%
Consumer Discretionary 8.00%
Consumer Staples 7.00%
Industrials 6.00%
Energy 4.00%
Materials 3.00%
Real Estate 2.00%
Utilities 2.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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