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  2. Royal London UK Mid Cap Growth M

fund

Royal London UK Mid Cap Growth M

Stockpicking fund investing primarily in mid cap stocks.

  • 522.90p
    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!

  • 0.70%
    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).

  • 0.73%
    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.

  • 0.70%
    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 18 June 2021

This funds objective seeks to achieve capital growth, principally through the investment in medium-sized UK companies represented by the FTSE 250 ex IT index - although the Manager retains the discretion to invest in some FTSE 100 or FTSE AIM / small company stocks. The manager considers himself more of a growth investor within a top down / thematic driven framework.

Fund summary

Sector UK All Companies
Structure OEIC
Launched November, 2009
Size £70m
Yield 0.70%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.70%
Ongoing charges figure 0.73%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 16/17 0.00%
  • 17/18 0.21%
  • 18/19 0.61%
  • 19/20 1.43%
  • 20/21 -0.61%

Bestinvest MRI

  • 3 years 0.48%
  • 5 years 0.00%
  • Career 0.22%
  • 3 years 93.50%
  • 5 years 0.00%
  • Career 95.80%

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

Henry Lowson

Henry joined AXA Framlington in January 2005 as a UK equity analyst. He graduated from Edinburgh University in 2004 with an MA (Hons) degree in Economics and Geography. He passed the Investment Management Certificate in April 2005 and he became a CFA Charterholder in June 2007. He became lead fund manager of the AXA Framlington UK Smaller Companies Fund in May 2012. He was also responsible for management of the AIM Inheritance Tax Portfolio Service until the sale of the Portfolio Management Team to Psigma in October 2014.

Track record

Henry Lowson has 8.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.22%. During the worst period of relative performance (from January 2016 - March 2017) there was a decline of 12% relative to the index. The worst absolute loss has been 27%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 96%.

Periods of worst performance

Absolute -27.00% (January 2020 - March 2020)
Relative -12.00% (January 2016 - March 2017)

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

3.5262% B & M European Value Retail Sa
3.28% Genus Ord Gbp0.10
3.2761% Integrafin Holdings Plc
3.2364% Grainger Plc
3.2115% Cranswick
3.1041% Dechra Pharmaceuticals
3.0305% Ultra Electronics Hldgs
2.8763% Telecom Plus Ord Gbp0.05
2.7802% Fdm Group Plc
2.4834% Lancashire Hldgs
Source: Trustnet

Sector breakdown

Industrials 29.00%
Financials 25.00%
Consumer Services 14.00%
Health Care 10.00%
Consumer Goods 10.00%
Technology 7.00%
Telecommunications 3.00%
Basic Materials 2.00%

Portfolio

40-60 holdings position sizes 1-3%

Constraints

at least 80% invested in mid caps.

Key Investor Information

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