fund
Royal London Short Term Money Market Y
The objective of this fund is to maximise income.
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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.
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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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0.08%
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).
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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.
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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…
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% |
Allocation
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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.
Allocation
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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