fund
MI Chelverton UK Equity Growth B
UK equity fund focused on smaller companies, defined as those outside the FTSE 100 index.
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304.23p
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.
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321.66p
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?
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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!
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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).
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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.
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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…
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 | £886m |
| 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 | 0.91% |
Allocation
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Investment process
Manager research
Average monthly relative returns
- 16/17 0.74%
- 17/18 1.07%
- 18/19 0.69%
- 19/20 0.99%
- 20/21 1.86%
Bestinvest MRI
- 3 years 1.18%
- 5 years 1.07%
- Career 1.06%
- 3 years 99.90%
- 5 years 100.00%
- 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 6.2 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +1.06%. 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 29%. 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 | -29.00% (January 2020 - March 2020) |
| 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 July 2020
| 2.1304% | Future Plc |
| 1.9177% | Clinigen Group Plc |
| 1.7777% | Premier Foods Plc |
| 1.6861% | Imimobile Plc |
| 1.6327% | Dotdigital Group Plc |
| 1.6052% | Weir Group Plc (The) |
| 1.5855% | Codemasters Group Holdings Plc |
| 1.523% | Curtis Banks Group Plc |
| 1.4519% | Diversified Gas & Oil Plc |
| 1.4288% | Volution Group Plc |
| Source: Trustnet |
Sector breakdown
| Software | 17.00% |
| Pharmaceuticals | 9.00% |
| Investment Companies | 8.00% |
| Support Services | 7.00% |
| Other Financial | 6.00% |
| Electronic & Electrical Equipment | 6.00% |
| Media | 5.00% |
| Health Care | 5.00% |
| Building & Construction | 5.00% |
| Engineering & Machinery | 4.00% |