Ninety One Global Multi Asset Total Return A

Fund of investment trust companies. Note double charging.

  • 246.30p
    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.

  • -
    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).

  • 1.69%
    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…

Prices as at 22 October 2020

Fund summary

Sector Flexible Investment
Structure OEIC
Launched January, 1994
Size £175m
Yield 0.00%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 4.50%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.69%

Allocation

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Investment process

The Fund aims to achieve a combination of income and capital growth primarily through investment in the shares of investment companies and other collective investment schemes and in derivatives, the underlying assets of which are shares of investment companies and other collective investment schemes.

Manager research

Average monthly relative returns

  • 15/16 -1.07%
  • 16/17 0.00%
  • 17/18 -0.99%
  • 18/19 -0.28%
  • 19/20 0.20%

Bestinvest MRI

  • 3 years -0.36%
  • 5 years -0.43%
  • Career -0.22%
  • 3 years 15.40%
  • 5 years 3.30%
  • Career 17.60%

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

Philip Saunders / Max King

Saunders is head of the global asset allocation team at Investec. He originally trained as an investment analyst at Guinness Mahon & Co Limited assuming responsibility for that company’s managed currency funds in 1984. In 1987, he became a founding director of Guinness Flight Global Asset Management (which was acquired by Investec in 1998) and led its Global Fixed Income team. After a period managing retail marketing and sales, he assumed responsibility for establishing Investec Asset Managements multi manager business which is now combined with Investec's global multi asset activity. Prior to joining Investec Asset Management, King was a director of JO Hambro Capital Management, where he managed a range of portfolios, with a variety of investment remits including special situations, mid to large cap pan-European companies and UK small caps. Before that, he worked for Finsbury Asset Management between 1987 and 1997 as a director and senior investment manager, with responsibilities for several investment trusts. He also worked for LF Rothschild for four years as a vice president in the risk arbitrage department, investing proprietary capital and client money, after an initial five years as an articles clerk and accountant. King graduated from Cambridge with a degree in economics.

Track record

Philip Saunders / Max King has 13.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.22%. During the worst period of relative performance (from February 2007 - May 2020) there was a decline of 35% relative to the index. The worst absolute loss has been 32%.

Periods of worst performance

Absolute -32.00% (October 2007 - February 2009)
Relative -35.00% (February 2007 - May 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

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Top 10 holdings

Data accurate as at 31 July 2020

2.3% Alibaba Group Hldg Ltd
2% Partners Group Holding
1.8% Taiwan Semiconductor Co
1.7% Samsung Electronics Co
1.5% Kla Corp
1.4% Wuliangye Yibin Co Ltd
1.4% Aia Group Ltd
1.4% Unitedhealth Group Inc
1.4% Media Corp Plc
1.4% Essent Grp Ltd
Source: Trustnet

Key Investor Information

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