fund
Scottish Widows UK Smaller Companies C
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421.10p
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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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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0.88%
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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2.80%
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…
Fund summary
| Sector | UK Smaller Companies |
| Structure | OEIC |
| Launched | May, 1993 |
| Size | £45m |
| Yield | 2.80% |
| Charging basis | |
| 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 | 0.75% |
| Ongoing charges figure | 0.88% |
Allocation
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Investment process
The fund's objective is to provide long-term capital growth by investing in a range of shares and other investments of, mainly, UK smaller companies.
Manager research
Average monthly relative returns
- 15/16 0.00%
- 16/17 0.22%
- 17/18 0.28%
- 18/19 -0.11%
- 19/20 0.75%
Bestinvest MRI
- 3 years 0.31%
- 5 years 0.00%
- Career 0.43%
- 3 years 93.30%
- 5 years 0.00%
- Career 99.90%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Andy Brough
Born in 1960, Brough holds an Economics degree from Manchester University and qualified as a chartered accountant with Price Waterhouse. He joined Schroders in 1987 as a UK equity fund manager, initially as an analyst covering the Brewery, Publishing and Printing sectors. He has managed the Schroder Institutional UK Smaller Cos. fund since 1989, the retail version since 1995, and has been co-head of Schroders' pan European Small and Mid Cap team since 2002. The bulk of his portfolios are made up of stocks held for the long-term, although tactical trading is undertaken in stocks of companies which include those that might be experiencing management change, withdrawal of industry overcapacity or a cyclical upturn.
Track record
Andy Brough has 6.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.43%. During the worst period of relative performance (from July 1997 - June 2016) there was a decline of 6% relative to the index. The worst absolute loss has been 35%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is more than 99%.
Periods of worst performance
| Absolute | -35.00% (December 2019 - March 2020) |
| Relative | -6.00% (July 1997 - June 2016) |
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 December 2019
| 2.36% | Discoverie Group Plc |
| 2.33% | Dunelm Group Plc |
| 2.24% | Aveva Group |
| 2.19% | Keller Group Plc |
| 2.19% | Fisher(James)& Sons Plc |
| 2.18% | Games Workshop Group |
| 2.17% | Telecom Plus |
| 2.15% | Grainger Plc Ord 5p |
| 2.1% | Cls Hldgs Plc |
| 2.09% | Qinetiq Group |
| Source: Trustnet |
Sector breakdown
| Industrials | 33.00% |
| Financials | 18.00% |
| Consumer Services | 12.00% |
| Technology | 9.00% |
| Basic Materials | 8.00% |
| Consumer Goods | 7.00% |
| Money Market | 6.00% |
| Oil & Gas | 3.00% |
| Telecommunications | 2.00% |
| Health Care | 2.00% |
Portfolio
Total number of equity holdings is around 110.
Key Investor Information