Ninety One Diversified Income A

  • 75.30p
    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.

  • 320.92p
    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?

  • 4.50% 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!

  • 1.50%
    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).

  • 1.65%
    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.

  • 3.70%
    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 06 August 2020, fund data last updated 01 February 2002

Fund summary

Sector Mixed Investment 0-35% Shares
Structure OEIC
Launched
Size £1,401m
Yield 3.70%
Charging basis Capital
Dividends paid

Charges

Standard initial charge 4.50%
Initial charge via Bestinvest 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.65%

Allocation

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Investment process

The mandate’s defensive attributes are arrived at by identifying individual securities (equity or fixed income) that offer sustainable income and capital stability. These are subsequently combined to give the optimal blend of growth vrs defensive assets, with a view to offering structural diversification and achieving the same income sustainability / capital stability outcome. The investment universe includes blue chip global equity, DM and EM sovereign bonds, IG and HYB credit, REITS, Infrastructure and FX.Portfolio risk is formally defined through exposure limits to the various asset class categories and a realised volatility of less than 50% of equities. Derivatives tend to be used relatively sparingly, in the main, they include the opportunistic use of equity index futures for protection, bond futures to manage duration risk and currency forwards as part of the FX hedge programme.Whilst the default position is to hedge FX risk to the funding currency (GBP), active FX positions can be taken.

This product has the advantage of structural simplicity and competitive pricing, led and supported by a well resourced and dedicated multi-asset team, who can draw on the asset manager's broader specialist capabilities in global / regional equity, Sovereigns, Credit and EMD. The investment philosophy focuses on capturing ‘natural’ income to achieve the income / total return objectives, with capital return contribution being a more marginal driver. Bottom up security selection and the dynamic blend of asset types both work towards achieving the income / capital sustainability outcome.

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

Equities 30.00%
Government Bonds 20.00%
Debt 19.00%
Investment Grade Corporate Bonds 18.00%
High Yield Bond 5.00%
Property 3.00%
Money Market 3.00%
Debt 1.00%
Foreign Exchange 1.00%

Portfolio

The vast majority of portfolio exposures are achieved through direct investment in cash securities and derivatives, as opposed to investing via funds.

Key Investor Information - Income

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Key Investor Information - Accumulation

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