Royal London UK Income With Growth A

Targets an above average income from UK equities and some fixed interest securities.

  • 217.00p
    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?

  • 5.00% 1.76%

    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).

  • 1.54%
    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.

  • 5.70%
    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 11 December 2019

Fund summary

Sector UK Equity and Bond Income
Structure UNIT TRUST
Launched September, 1989
Size £259m
Yield 5.70%
Charging basis
Dividends paid 31 May, 30 Nov

Charges

Standard initial charge 5.00%
Initial charge via Bestinvest 1.76%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.54%

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Investment process

The Trust aims to provide an above-average and growing income, together with some capital appreciation, from a diverse portfolio of UK securities comprising mainly higher-yielding equities in any economic sector, but including some fixed-interest securities.

Manager research

Average monthly relative returns

  • 14/15 0.10%
  • 15/16 -0.01%
  • 16/17 -0.25%
  • 17/18 0.00%
  • 18/19 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career -0.08%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 61.80%

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

Joe Walters

Walters was born in 1967, joined CIS in 1988 and worked originally on the CIS Life Fund. As a fund manager he managed the CIS Income Fund from 1992-99.

Track record

Joe Walters has 11.6 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.08%. During the worst period of relative performance (from February 2000 - January 2011) there was a decline of 15% relative to the index. The worst absolute loss has been 47%.

Periods of worst performance

Absolute -47.00% (August 2000 - January 2003)
Relative -15.00% (February 2000 - January 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 30 August 2019

5.2149% Royal Dutch Shell
5.0062% Bp
4.4996% Hsbc Holdings Plc
3.2553% Glaxosmithkline
2.9764% Imperial Brands Plc
2.9214% National Grid
2.9075% Rio Tinto
2.3063% British American Tobacco
1.9967% Standard Life Aberdeen Plc
1.9433% Ig Group Hldgs
Source: Trustnet

Sector breakdown

Fixed Interest 30.00%
Financials 16.00%
Industrials 12.00%
Oil & Gas 12.00%
Consumer Goods 10.00%
Consumer Services 7.00%
Utilities 4.00%
Basic Materials 3.00%
Health Care 3.00%
Telecommunications 3.00%

Key Investor Information

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