Scottish Widows Cautious Portfolio A

A multi-manager fund run by Frank Russell falling into the global bond sector.

  • 149.20p
    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.

  • 202.50p
    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?

  • 3.50% 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!

  • 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).

  • 1.50%
    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.

  • 0.90%
    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 September 2020, fund data last updated 09 October 2003

A multi-manager product run by Frank Russell falling into the global bond sector. Designed to offer investors improved risk adjusted returns through diversification across different investment styles. Charges are relatively high for what is primarily a bond fund.

Fund summary

Sector Mixed Investment 0-35% Shares
Structure OEIC
Launched January, 2002
Size £131m
Yield 0.90%
Charging basis
Dividends paid

Charges

Standard initial charge 3.50%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.50%

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Investment process

This is a multi-manager product constructed by Frank Russell on behalf of Scottish Widows. Frank Russell are multi-manager specialists who use quantitative and qualitative techniques to analyse fund managers performance and process and subsequently construct portfolios that are diversified by managers exhibiting different investment styles. These individual mandates are then monitored in real time by Frank Russell. Fund turnover averages about 15% p.a. Although this fund falls into the global bond sector it maintains a 15% weighting in equities.

Manager research

Average monthly relative returns

  • 15/16 -0.60%
  • 16/17 0.36%
  • 17/18 0.04%
  • 18/19 -0.38%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career -0.05%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 74.20%

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

Frank Russell Co

The Frank Russell Company is one of the world's leading investment consultants. Founded in 1936, it now employs over 1,400 people and manages over £44 billion in multi-manager funds from offices throughout Europe, North America and Asia/Pacific. Frank Russell Co. adopt a pragmatic approach to investment. They use quantitative and qualitative techniques but place an emphasis on fundamental research. The group stress their independence.

Track record

Frank Russell Co has 18.1 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.05%. During the worst period of relative performance (from January 2003 - March 2009) there was a decline of 26% relative to the index. The worst absolute loss has been 13%.

Periods of worst performance

Absolute -13.00% (October 2007 - February 2009)
Relative -26.00% (January 2003 - March 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 30 June 2020

17.7% Russell Investments Global Bond H-A Acc Gbp
17.64% Russell Investment Co Ii Plc
17.13% Russell Investment Co Ii Plc
16.66% Russell Investment Co Plc
13% Russell Investments Sterling Bond I Inc Gbp
5.59% Russell Us Equity I Inc Gbp
2.77% Schroders Pw Multi-Manager Uk Equity Focus A Acc
2.03% Russell Ic Continental European Equity I Inc Gbp
1.74% Nasdaq 100 E-Mini Sep 20 (Nqu0)
1.64% Eurostoxx 50 Future 18.09.2020
Source: Trustnet

Sector breakdown

Fixed Interest 71.00%
Fixed Interest 13.00%
Equities 6.00%
Equities 6.00%
Equities 2.00%
Money Market 1.00%
Equities 1.00%
Equities 1.00%

Portfolio

9% international equities, 6% UK equities, 85% bonds Bond exposure is min AA rated quality

Key Investor Information - Income

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Key Investor Information - Accumulation

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