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Slater Recovery P

  • 430.82p
    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.

  • -
    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?

  • 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!

  • 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).

  • 0.82%
    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.

  • 0.10%
    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…

Prices as at 21 September 2021

The fund's objective is to seek long term capital growth, principally through investment in UK companies. This is not a pure recovery mandate - the core strategy is to have core holdings of companies that can grow their earnings reliably and are priced cheaply. This is back up by a number of secondary strategies, such as companies trading at a discount to net asset value. The fund typically has a bias to smaller companies.

Fund summary

Sector UK All Companies
Structure UNIT TRUST
Launched January, 2013
Size £308m
Yield 0.10%
Charging basis Income
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 0.82%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 16/17 0.47%
  • 17/18 0.60%
  • 18/19 0.35%
  • 19/20 1.70%
  • 20/21 1.59%

Bestinvest MRI

  • 3 years 1.21%
  • 5 years 0.94%
  • Career 0.56%
  • 3 years 99.90%
  • 5 years 99.90%
  • Career 100.00%

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

Mark Slater

Slater co-founded Slater Investments, a specialist UK equity fund manager, in 1994 and is Chairman as well as Chief Investment Officer. A Cambridge University History graduate, he is the son of Jim Slater, the investment guru who popularised the PEG (price-to-earnings growth factor) as an investment tool. Slater began his career as a financial journalist, first managing money for Old Mutual in 1995. The Old Mutual Slater Growth fund he was running was bought by Johnson Fry in 1996 and then in turn by Leggmason. During his career, he has served on the boards of four public companies in which he has been a substantial shareholder.

Track record

Mark Slater has 26.2 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.56%. During the worst period of relative performance (from March 2005 - November 2008) there was a decline of 26% relative to the index. The worst absolute loss has been 48%. 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 -48.00% (May 2007 - November 2008)
Relative -26.00% (March 2005 - November 2008)

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 2021

7.35% Future Plc
3.68% Prudential Plc
3.12% Clinigen Group Plc
2.71% Alliance Bernstein (Pm)
2.47% Tesco Corp
2.27% Next Fifteen Communications Group
2.13% Lords Trading
2.12% Gamesys Group Plc
2.11% Jubilee Metals Group Plc
1.93% Jtc Plc
Source: Trustnet

Sector breakdown

Others 28.00%
Software 11.00%
Biotechnology/Medical 10.00%
Services 8.00%
Media 7.00%
Consumer Services 7.00%
Financials 5.00%
Insurance 4.00%
Real Estate 3.00%
Consumer Durables 3.00%

Portfolio

30 to 60 stocks.

Constraints

There are no sector constraints on the fund, although exposures will be monitored to ensure reasonable diversification.

Key Investor Information

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