fund
M&G North American Value I
Aims to outperform the S&P500 over a market cycle using a value approach.
-
2929.25p
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.
-
3309.53p
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 chargeSome 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).
-
0.93%
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.
-
1.80%
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…
The aim of the fund is to maximise long-term total return by investing mainly in the cheapest 25% of companies listed in the US. Fund manager, Daniel White, seeks to invest in companies whose potential value, in his view, is not reflected in the share price. Derivatives may be used for investment purposes.
Fund summary
| Sector | North America |
| Structure | OEIC |
| Launched | August, 2012 |
| Size | £204m |
| Yield | 1.80% |
| 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 | 0.93% |
Allocation
Proportion (%)
-
{{chartDataItem.text}}{{chartDataItem.value}}
Allocation
Proportion (%)
-
{{chartDataItem.text}}{{chartDataItem.value}}
Allocation
Proportion (%)
-
{{chartDataItem.text}}{{chartDataItem.value}}
Investment process
The Fund aims to achieve long-term capital growth through investment in North American securities of North American companies using a value based investment philosophy.
Manager research
Average monthly relative returns
- 16/17 0.39%
- 17/18 -0.04%
- 18/19 -1.04%
- 19/20 -1.35%
- 20/21 0.23%
Bestinvest MRI
- 3 years -0.72%
- 5 years -0.36%
- Career -0.32%
- 3 years 6.20%
- 5 years 16.10%
- Career 12.90%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Daniel White
White joined M&G in 2005 as a sector analyst covering banks. He was appointed dedicated analyst for the M&G European Strategic Value Fund upon the fund's launch in February 2008, and subsequently became deputy fund manager in 2009 and finally co-fund manager in 2011. He previously worked at Deloitte & Touche as an accountant. He graduated from the University of Southampton with a BSc in oceanography in 2001. In 2005, he qualified as a chartered accountant and is also a chartered financial analyst (CFA) charterholder
Track record
Daniel White has 7.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.32%. During the worst period of relative performance (from July 2014 - August 2020) there was a decline of 36% relative to the index. The worst absolute loss has been 21%.
Periods of worst performance
| Absolute | -21.00% (July 2019 - March 2020) |
| Relative | -36.00% (July 2014 - August 2020) |
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
Proportion (%)
-
{{chartDataItem.text}}{{chartDataItem.value}}
Allocation
Proportion (%)
-
{{chartDataItem.text}}{{chartDataItem.value}}
Allocation
Proportion (%)
-
{{chartDataItem.text}}{{chartDataItem.value}}
Top 10 holdings
Data accurate as at 31 July 2020
| 3.8% | Alphabet Inc |
| 3.5% | Johnson & Johnson |
| 3.2% | Pfizer Inc |
| 3.2% | Bristol Myers Squibb Sa |
| 3.2% | Comcast Corp(New) |
| 3% | Oracle Corp |
| 3% | Cisco Systems Inc |
| 3% | Jpmorgan Chase & Co |
| 2.9% | Exelon Corp |
| 2.8% | Anthem Inc |
| Source: Trustnet |
Sector breakdown
| Health Care | 17.00% |
| Information Technology | 15.00% |
| Communications | 13.00% |
| Financials | 12.00% |
| Industrials | 9.00% |
| Consumer Staples | 8.00% |
| Consumer Discretionary | 8.00% |
| Energy | 6.00% |
| Money Market | 5.00% |
| Materials | 4.00% |