Schroder Global Equity Z

Invests worldwide in an unconstrained, focused portfolio of equities.

  • 87.07p
    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.

  • 89.93p
    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!

  • 0.75%
    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).

  • 0.87%
    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.

  • 0.80%
    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 29 May 2020

This international equity fund distinguishes itself from its peers with an unconstrained, very focused (30 stocks) portfolio. As a result, performance is likely to differ substantially from that of the benchmark and may also be volatile. The fund is interesting but the managers' track record on an existing offshore fund has been mixed so we are not rating this at present.

Fund summary

Sector Global
Structure UNIT TRUST
Launched February, 2016
Size £406m
Yield 0.80%
Charging basis Income
Dividends paid 15 May

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.87%

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Investment process

The fund has a high performance mandate, targeting outperformance of 7% p.a. over the MSCI World index over an economic cycle from a concentrated, unconstrained portfolio. The fund is run by a dedicated global team which includes the portfolio managers and global sector analysts, all of whom feed off the research of Schroders' regional teams. The managers take a long term approach to investment, looking for quality growth stocks with sustainable competitive advantage and buying them at attractive valuations. Though primarily a stockpicking fund, three long-term themes provide a backdrop to decision making; currently these are climate change, demographic change and the supercycle (emerging markets growth).

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career -0.62%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

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

Simon Webber

Webber was awarded a BSc (Hons) in Physics before becoming National Secretary of the National Union of Students in the UK for two years, and a Director of NUS Services Ltd. His investment career commenced in 1999 when he joined Schroders’ Global Technology Team as a research analyst. He subsequently became a Global Sector Specialist for the consumer discretionary and telecom sectors. Currently, he is also a portfolio manager on the Global Equity team.

Track record

The track record of Simon Webber in managing mutual funds in this sector is still too short for us to draw any meaningful conclusions and so our assessment is based largely on qualitative aspects.

Periods of worst performance

Absolute -48.00% (April 2002 - January 2003)
Relative -15.00% (April 2002 - December 2002)

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 April 2019

5.752% Alphabet Inc
4.9749% Bank Of America Corp
4.5061% Danaher Corp
4.2982% Comcast Corp(New)
3.9926% Novartis Ag
3.8306% Baxter International Inc
3.818% Booking Hldgs Inc
3.7989% Schneider Electric Se
3.7839% Nestle Sa
3.7765% Taiwan Semiconductor Manufacturing
Source: Trustnet

Sector breakdown

Communications 23.00%
Health Care 21.00%
Consumer Discretionary 12.00%
Financials 11.00%
Industrials 10.00%
Information Technology 8.00%
Consumer Staples 6.00%
Energy 5.00%
Materials 5.00%
Money Market 1.00%

Portfolio

Consists of around 30 stocks.

Constraints

Maximum 50% in emerging markets; otherwise unconstrained by region or sector.

Key Investor Information - Income

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Key Investor Information - Accumulation

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