Ninety One Global Strategic Equity A

  • 1013.21p
    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).

  • 1.62%
    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.

  • 0.50%
    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 12 August 2020, fund data last updated 03 August 2012

The fund targets long term capital growth by investing in equities worldwide. The manager focuses on companies undergoing internal changes (e.g. restructuring) or affected by external changes (e.g. privatisation, deregulation or demutualisation). Stocks are ranked using Investec’s 4Factor quantitative process before undergoing qualitative analysis – the entire research process is bottom-up.

Fund summary

Sector Global
Structure OEIC
Launched
Size £423m
Yield 0.50%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 4.50%
Initial charge via Bestinvest 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.62%

Allocation

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Investment process

The managers believe that stock prices are affected by behavioural biases, and have identified key drivers that they believe lead investors to mis-price stocks – these include deregulation, restructuring, new technologies and privatisation. From a 4,500 stock universe the managers select the 500 stocks they believe are most impacted by these factors, then rank them using the proprietary “4Factor” quantitative process. This is based on the factors they have identified as most strongly affecting share prices: Strategy (companies that understand how to create shareholder value); Valuation (companies trading at a discount to their prospects based on cashflow); Dynamics (positive newsflow); Technicals (share price trends). Investec’s sector analysts then subject the best ideas identified to qualitative analysis to ensure the quantitative data is accurate. Finally, the fund manager constructs the portfolio – this is on a bottom up basis, i.e. with no macroeconomic input.

This fund started life as the Investec Global Privatisation fund but now has a much broader remit. Manager Mark Breedon has a good track record but his outperformance occurred mostly earlier in his career. At Investec he is partly reliant on the in house 4Factor quantitative system - as with other quant-based screens, this tends to perform best in directional markets and to underperform at market turning points. The fund suffered particularly in the 2008 banking crisis and has struggled to add value in the turbulent markets since.

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

Information Technology 16.00%
Health Care 14.00%
Financials 14.00%
Industrials 12.00%
Consumer Discretionary 12.00%
Communications 11.00%
Energy 7.00%
Consumer Staples 6.00%
Materials 5.00%
Money Market 2.00%

Portfolio

Between 80-100 stocks are usually held.

Key Investor Information

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