MI Chelverton UK Equity Growth B

UK equity fund focused on smaller companies, defined as those outside the FTSE 100 index.

  • 256.84p
    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.

  • 271.35p
    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).

  • 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.

  • 0.90%
    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 February 2020

The fund targets long-term capital growth through investment in mid and small cap stocks listed in the UK, defined as those outside the FTSE 100 index.

Fund summary

Sector UK All Companies
Structure OEIC
Launched October, 2014
Size £480m
Yield 0.90%
Charging basis Capital
Dividends paid 28 Feb

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 1.00%

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Investment process

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 1.07%
  • 17/18 0.93%
  • 18/19 1.03%
  • 19/20 0.76%

Bestinvest MRI

  • 3 years 0.91%
  • 5 years 0.00%
  • Career 0.92%
  • 3 years 100.00%
  • 5 years 0.00%
  • Career 100.00%

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

James Baker

Baker joined Chelverton Asset Management in June 2014 to manage the Chelverton UK Equity Growth Fund. A history graduate from Cambridge University, he has over 30 years of equity market experience on both buy and sell sides, specialising for all of his career in UK Small and Mid caps stock selection. He has worked for several organisations over the years, but most notably spent 11 years from 1999 to 2011 as part of the ABN Amro, Small Mid cap sales team, which was consistently top ranked by Extel. Prior to joining Chelverton he worked as the Assistant fund manager on the Rathbone UK Recovery Fund.

Track record

James Baker has 4.9 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.92%. During the worst period of relative performance (from February 2018 - April 2018) there was a decline of 4% relative to the index. The worst absolute loss has been 15%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is more than 99%.

Periods of worst performance

Absolute -15.00% (August 2018 - December 2018)
Relative -4.00% (February 2018 - April 2018)

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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Top 10 holdings

Data accurate as at 31 October 2019

2.1732% Future Plc
1.9486% Volution Group Plc
1.9147% Statpro Group
1.9126% Elementis Plc
1.9043% Dotdigital Group Plc
1.7954% Sdl
1.7395% Strix Group Plc
1.7207% Clinigen Group Plc
1.6839% Restore Plc
1.6813% Polypipe Group Plc
Source: Trustnet

Sector breakdown

Software 20.00%
Support Services 8.00%
Pharmaceuticals 8.00%
Investment Companies 8.00%
Electronic & Electrical Equipment 7.00%
Chemicals 6.00%
Building & Construction 5.00%
Diversified Industrials 5.00%
Other Financial 5.00%
Engineering & Machinery 4.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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