fund
SF Metropolis Value A
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286.57p
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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301.80p
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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1.00%
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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1.36%
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…
The fund’s goal is to generate long term capital gains by investing in listed companies, which have been selected to meet the managers' quality criteria, and are undervalued in relation to their future cash generation capability. It makes long-only, unleveraged investments in a concentrated portfolio (15-25 holdings) of global equities using a value-based approach, with low turnover.
Fund summary
| Sector | Global |
| Structure | OEIC |
| Launched | April, 2011 |
| Size | £124m |
| Yield | 1.10% |
| Charging basis | |
| Dividends paid |
Charges
| Standard initial charge | 0.00% |
| Initial charge via Bestinvest | 0.00% |
| Additional bid/offer spread | 0.00% |
| Annual management charge | 1.00% |
| Ongoing charges figure | 1.36% |
Allocation
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Investment process
Manager research
Average monthly relative returns
- 16/17 0.26%
- 17/18 -0.28%
- 18/19 -1.06%
- 19/20 -0.13%
- 20/21 0.78%
Bestinvest MRI
- 3 years -0.14%
- 5 years -0.09%
- Career -0.08%
- 3 years 46.00%
- 5 years 53.60%
- Career 54.40%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Jonathan Mills / Simon Denison-Smith
Track record
Jonathan Mills / Simon Denison-Smith has 5.1 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.08%. During the worst period of relative performance (from July 2017 - August 2019) there was a decline of 22% relative to the index. The worst absolute loss has been 15%.
Periods of worst performance
| Absolute | -15.00% (January 2020 - March 2020) |
| Relative | -22.00% (July 2017 - August 2019) |
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 September 2019
| 8.7% | Ryanair Hldgs |
| 8.41% | Berkshire Hathaway Inc |
| 7.97% | State Street Corp |
| 7.86% | Alphabet Inc |
| 6.39% | Kubota Corp |
| 4.9% | Allergan Inc |
| 4.8% | Howden Joinery Group Plc |
| 4.79% | Sanofi |
| 4.75% | Merlin Entertainments Plc |
| 4.71% | Hca Healthcare |
| Source: Trustnet |
Sector breakdown
| Travel | 18.00% |
| Insurance | 13.00% |
| Software | 12.00% |
| Biotechnology/Medical | 10.00% |
| Financial Services | 8.00% |
| Hardware | 7.00% |
| Industrials | 6.00% |
| Banks | 5.00% |
| Support Services | 5.00% |
| Healthcare & Medical Products | 5.00% |