fund
Schroder Managed Balanced Z
A fund of internal funds. The equity allocation will be between 40-85%, with the balance invested in fixed income.
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73.48p
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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82.55p
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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0.75%
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).
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0.94%
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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1.10%
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 | Mixed Investment 40-85% Shares |
| Structure | UNIT TRUST |
| Launched | October, 2013 |
| Size | £1,864m |
| Yield | 1.10% |
| Charging basis | Income |
| Dividends paid | 23 Apr |
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 | 0.94% |
Allocation
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Investment process
Manager research
Average monthly relative returns
- 16/17 0.00%
- 17/18 0.00%
- 18/19 -0.73%
- 19/20 1.11%
- 20/21 0.00%
Bestinvest MRI
- 3 years 0.00%
- 5 years 0.00%
- Career 0.18%
- 3 years 0.00%
- 5 years 0.00%
- Career 68.10%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Johanna Kyrklund
Kyrklund, Head of UK Multi Asset, joined Schroders in March 2007. Prior to this, she was a fund manager at Insight Investments. From 1997 to 2005 Johanna worked at Deutsche Asset Management, where she specialised in asset allocation. Kyrklund has a BA (Hons) in Philosophy, Politics & Economics from Christ Church, Oxford and is a CFA charterholder.
Track record
Johanna Kyrklund has 2.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.18%. During the worst period of relative performance (from June 2008 - February 2009) there was a decline of 30% 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 68%.
Periods of worst performance
| Absolute | -27.00% (June 2008 - February 2009) |
| Relative | -30.00% (June 2008 - February 2009) |
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
| 10.8% | Schroder Europe Fund |
| 7.8% | S&P 500 Index |
| 7.8% | Schroder Isf Us Large Cap |
| 7.1% | Schroder All Maturities Corporate Bond A Inc |
| 6.2% | Schroder Global Equity Fund |
| 5.8% | Schroder Isf Global Corporate Bond I Acc Nav Usd |
| 5.3% | Schroder Asian Alpha Plus A Acc |
| 5.2% | Schroder Isf Global Equity |
| 4.9% | Schroder Isf Global High Yield I Acc Nav Usd |
| 4.4% | Schroder Prime Uk Equity |
| Source: Trustnet |