Royal London Short Term Money Market Y

The objective of this fund is to maximise income.

  • 97.16p
    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?

  • 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!

  • 0.08%
    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).

  • 0.14%
    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.

  • 0.40%
    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 25 January 2021

Fund summary

Sector Short Term Money Market
Structure UNIT TRUST
Launched July, 1999
Size £3,669m
Yield 0.40%
Charging basis Capital
Dividends paid 31 May, 30 Nov

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.08%
Ongoing charges figure 0.14%

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Investment process

The objective of this fund is to maximise income.

Manager research

Average monthly relative returns

  • 16/17 -0.03%
  • 17/18 0.07%
  • 18/19 -0.05%
  • 19/20 -0.08%
  • 20/21 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.01%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 100.00%

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

Paul McKinnon

Paul is responsible for cash management and has input into RLAM's interest rate views. He joined United Friendly Asset Management in 1988.

Track record

Paul Mckinnon has 12.4 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 February 2009 - October 2011) there was a decline of 3% relative to the index. The worst absolute loss has been 1%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is more than 99%.

Periods of worst performance

Absolute -1.00% (March 2004 - April 2004)
Relative -3.00% (February 2009 - October 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.

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Top 10 holdings

Data accurate as at 31 July 2020

9.7577% Hm Treasury United Kingdom Dmo 0% Tsy Bill 19/10/20 Gbp1
8.2693% Hm Treasury United Kingdom Dmo 0% Tsy Bill 12/10/20 Gbp1
4.9614% Hm Treasury United Kingdom Dmo 0% Tsy Bill 09/11/20 Gbp1
3.74% Lloyds Bank Plc Frn 10/01/2021
3.3079% Hm Treasury United Kingdom Dmo 0% Tsy Bill 10/08/20 Gbp1
3.3077% Hm Treasury United Kingdom Dmo 0% Tsy Bill 05/10/20 Gbp1
2.4833% Cbaau Frn + 22 Vs Sonia 11/04/20
2.483% Nse 0.30% Cd 05/06/2020 - 05/10/2020
2.4823% Smbc 0.225% Cd 28/05/20 - 28/08/20
2.4816% Tor Frcd +17 Vs 3 Months 30/09/2020
Source: Trustnet

Sector breakdown

Money Market 66.00%
Government Bonds 31.00%
Mortgage & Secured Bonds 4.00%

Key Investor Information

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