Mithras IT

  • 0.00p
    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.

  • -
    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!

  • 0.90%
    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).

  • 1.50%
    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.

  • 0.00%
    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…

Fund data last updated 20 May 2004

This trust is managed by Legal & General Ventures and focuses upon mid market buyouts within the leisure sector. For historical reasons the portfolio has a bias to mezzanine finance although this is reducing. With all specialist investments, potential investors should have a strong understanding of what they are holding.

Fund summary

Sector Private Equity
Structure X-INVESTMENT TRUST
Launched
Size £15m
Yield 0.00%
Charging basis
Dividends paid Sep, Dec

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 0.90%
Ongoing charges figure 1.50%

Allocation

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Investment process

This private equity investment trust, is managed by LGV (Legal & General Ventures). The focus of the portfolio is to invest where LGV feel they have an advantage. LGV feel this advantage lies within mid market buyouts, within the leisure sectors. Around three deals are completed each year (ranging from £60-300m). Cash generative companies are targeted with the team explicit in their goal of understanding their investments. Once a stake has been purchased, the investment team spend a large amount of their time managing their investments, which includes sitting on the boards of their investments.

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

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

Track record

Periods of worst performance

Absolute 0.00% ()
Relative 0.00% ()

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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Sector breakdown

Services 30.00%
Travel 17.00%
Health Care 10.00%
Resources 8.00%
Food, Beverages and Tobacco 8.00%
Building Materials & Merchants 5.00%
Financial Services 5.00%
Industrials 5.00%
Household Goods 5.00%
Telecom, Media & Technology 5.00%

Portfolio

Historically the trust provided mezzanine finance, but has moved into unquoted equity holdings, through LGV vehicles.

Key Investor Information

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