SCHRODER UK OPPORTUNITIES Z

  • 413.80p Price (Inc)
  • 500.30p Price (Acc)
  • 0.00% 0.00%

    Initial charge
  • 0.75% Annual management charge
  • 0.91% Ongoing charges
  • 2.70% Yield

Fund data last updated 15 November 2019

The fund targets long-term capital growth whilst delivering an income, by investing in any economic sector of the UK market. Investing mainly in FTSE 100 and FTSE 250 stocks, the manager follows a “business cycle” approach, judging the state of the economy and then focusing on the types of companies he believes will benefit from it. For instance, he is likely to invest in more defensive companies during recessions but favour more cyclical stocks when the economy is booming.

Fund summary

Sector UK All Companies
Structure OEIC
Launched
Size £124m
Yield 2.70%
Charging basis Income
Dividends paid 28 Feb, 31 Aug

Charges

Initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.91%

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Investment process

The fund’s investment universe is predominantly the 350 largest companies on the UK stockmarket (the FTSE 350), but some small cap stocks may also be included. The manager pursues a business cycle approach to investing, setting sector and style exposures based on macro-economic views determined at a pan European Equity Strategy meeting. The team believes that company profits vary depending on the stage of the business cycle, with different stocks having different sensitivities to the economic environment. Stocks are classified into seven types; Commodity Cyclicals, Consumer Cyclicals, Industrial Cyclicals, Financials/Interest Rate Sensitives, Growth Defensives and Value Defensive. The portfolio is tilted towards stock types the manager believes will benefit in the next stage of the cycle – for instance, defensive stocks during a recession. The process also includes bottom-up analysis, with stocks being screened on both quantative and qualitative bases before being researched in more depth. The importance attached to top-down and bottom-up analysis varies according to the stage in the cycle – "inflection points" in the business cycle are catalysts for portfolio changes.

Julie Dean turned this fund into one of the top performers in the UK All Companies sector in recent years, but left the company in 2014. Successor Matt Hudson is highly capable in his own right but lacks a track record in the UK All Companies sector.

Manager research

Average monthly relative returns

Bestinvest MRI

14/15 15/16 16/17 17/18 18/19 3 years 5 years Career 3 years 5 years Career
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

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

Track record

Periods of worst performance

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Relative 0.00% ()

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.

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Sector breakdown

Financials 21.00%
Energy 15.00%
Consumer Staples 13.00%
Industrials 13.00%
Health Care 12.00%
Basic Materials 10.00%
Consumer Discretionary 7.00%
Money Market 5.00%
Technology 2.00%
Telecommunications 1.00%

Portfolio

35-65 stocks.

Key Investor Documents

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