Premier Multi-Asset Conservative Growth A

A unit trust of Zeros aiming for steady capital growth.

  • 75.53p
    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?

  • 5.25% 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!

  • 1.25%
    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).

  • 1.85%
    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.

  • 0.60%
    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 24 November 2020

Fund summary

Sector Mixed Investment 20-60% Shares
Structure OEIC
Launched June, 2001
Size £112m
Yield 0.60%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 5.25%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.25%
Ongoing charges figure 1.85%

Allocation

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Investment process

The fund's objective is to achieve steady capital growth through investment principally in a combination of zero dividend preference shares of quoted investment companies and other securities which, in the Manager’s opinion, are also lower risk securities. He does not actively trade stocks but usually lets them run to their maturity date. This keeps cost down. The overall portfolio GRY is c.8% which equates to returns to investors of c.6% after costs.

Manager research

Average monthly relative returns

  • 15/16 0.49%
  • 16/17 0.47%
  • 17/18 -0.28%
  • 18/19 0.14%
  • 19/20 0.05%

Bestinvest MRI

  • 3 years -0.03%
  • 5 years 0.17%
  • Career 0.01%
  • 3 years 62.90%
  • 5 years 91.00%
  • Career 96.00%

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

David Hambidge / Ian Rees

Hambidge has been with Premier since 1987 and specialises in the analysis of collective investment vehicles, including both OEICs and investment trusts. He is responsible for the portfolio management for both private and institutional investors and has been responsible for both of Premier's 'Fund of Funds', the Premier Selector Growth Trust and the Premier Selector Income Trust since their launch. He also manages the income portfolio of the Premier High Income Trust, a split capital investment trust launched in June 1999.

Track record

David Hambidge / Ian Rees has 25.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.01%. During the worst period of relative performance (from May 1996 - February 2003) there was a decline of 33% relative to the index. The worst absolute loss has been 40%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 96%.

Periods of worst performance

Absolute -40.00% (August 2000 - January 2003)
Relative -33.00% (May 1996 - February 2003)

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

3.278% Kls Zebra Global Equity Beta Neutral Fund Ne-Igbp
3.223% Twelve Insurance Best Ideas Fund I Acc
3.0714% Federated Hermes Absolute Return Credit F Hedged Inc Gbp
3.0397% Metwest Unconstrained Bond Xxghg-Qd
3.0391% Santander Uk Plc Iln 11/12/26(Ftse 100)Gbp1000
3.0185% Man Glg Absolute Value Professional Cx Acc
3.0178% Twentyfour Monument Bond L Inc Gbp
3.0109% Semper Total Return I Gbp
2.9784% Montlake Angel Oak Multi Strategy Income Ucits Inst Founder Gbp Inc
2.9588% Polar Global Absolute Return - S Gbp Hedged Acc
Source: Trustnet

Portfolio

c.35 quality zeros with diversified underlying portfolios in terms of asset classes and maturity.

Constraints

GRY on each ZDP must be greater than 6.5% after all costs. It will not hold zero derivatives on single stock UK equities.

Key Investor Information

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