fund
Rathbone Total Return Portfolio S
Invests in a mix of assets to achieve an increasing income and capital return
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129.22p
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.
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188.13p
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?
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0.00%
Initial chargeSome 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!
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0.50%
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).
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0.86%
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.
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1.20%
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 summary
| Sector | Volatility Managed |
| Structure | OEIC |
| Launched | October, 2012 |
| Size | £280m |
| Yield | 1.20% |
| Charging basis | Capital |
| Dividends paid | 28 Feb, 31 May, 31 Aug, 30 Nov |
Charges
| Standard initial charge | 0.00% |
| Initial charge via Bestinvest | 0.00% |
| Additional bid/offer spread | 0.00% |
| Annual management charge | 0.50% |
| Ongoing charges figure | 0.86% |
Allocation
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Investment process
The fund seeks to achieve an increasing income and capital return through investment in a mix of assets to the extent that each is permitted by the FSA regulations. The fund targets a return equal to 2% above Sterling [sixmonth] London Interbank Offered Rate (LIBOR) over the long-term and a volatility rate equal to one third or below that of equity markets as measured by the MSCI World Equity index.
Manager research
Average monthly relative returns
- 16/17 -0.06%
- 17/18 0.08%
- 18/19 -0.07%
- 19/20 -0.01%
- 20/21 0.24%
Bestinvest MRI
- 3 years 0.06%
- 5 years 0.04%
- Career 0.05%
- 3 years 88.10%
- 5 years 92.20%
- Career 98.50%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
David Coombs
Coombs is head of multi asset investments at Rathbone Unit Trust Management, and joined Rathbones in April 2007. He previously worked at Barings for almost 20 years, joining Barings in 1988 from Hambros. He is an Associate of the Chartered Institute of Financial Services.
Track record
David Coombs has 9.7 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.05%. During the worst period of relative performance (from May 2011 - November 2011) there was a decline of 6% relative to the index. The worst absolute loss has been 12%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 99%.
Periods of worst performance
| Absolute | -12.00% (December 2019 - March 2020) |
| Relative | -6.00% (May 2011 - November 2011) |
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
| 6.86% | Hm Treasury United Kingdom Dmo 0.5% Gilt 22/07/22 Gbp1 |
| 6.04% | Ishares Physical Gold Etc |
| 5% | Japan(Government Of) 0.1% Bds 20/06/23 Jpy50000 |
| 4.44% | Euro Investment Bank 4.25% 2021 |
| 3.88% | Hm Treasury United Kingdom Dmo 1.5% Gilt 22/01/21 Gbp0.01 |
| 3.32% | Us Treasury 0.25% Tips 15/01/2025 |
| 1.98% | Singapore Treasury 2.25% 1/06/2021 |
| 1.95% | United States Of Amer Treas Bills 0.125% Tb 15/10/24 Usd100 |
| 1.86% | Rbc Leveraged 3yr Steepener |
| 1.65% | Jp Morgan Smi Dispersion Certificates |
| Source: Trustnet |