fund
Smith & Williamson MM Global Investment B
Fund of investment trusts
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185.90p
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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0.65%
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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2.25%
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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2.10%
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…
Fund summary
| Sector | Flexible Investment |
| Structure | OEIC |
| Launched | August, 2012 |
| Size | £18m |
| Yield | 2.10% |
| Charging basis | |
| Dividends paid | 31 Jan, 31 May |
Charges
| Standard initial charge | 0.00% |
| Initial charge via Bestinvest | 0.00% |
| Additional bid/offer spread | 0.00% |
| Annual management charge | 0.65% |
| Ongoing charges figure | 2.25% |
Allocation
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Investment process
The fund's aims is long term capital growth together with the generation of some income primarily from a portfolio of closed end investment trust companies listed on the London Stock Exchange or any recognised Stock Exchange.
Manager research
Average monthly relative returns
- 17/18 0.00%
- 18/19 0.00%
- 19/20 0.00%
- 20/21 0.00%
- 21/22 0.00%
Bestinvest MRI
- 3 years 0.00%
- 5 years 0.00%
- Career -0.32%
- 3 years 0.00%
- 5 years 0.00%
- Career 34.10%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
James Burns
Burns graduated in 1998 with an MA (Hons) from St Andrews and joined Smith & Williamson in September 1999. He has been working on the investment trust desk since January 2001 and is now Head of the MultiManager department. He sits on the Global Asset Allocation Committee and the Collectives Monitoring Committee and co-ordinates the investment trust recommended list for the Private Client Department. He is a member of the Securities & Investment Institute.
Track record
James Burns has 9.5 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.32%. During the worst period of relative performance (from May 2006 - October 2007) there was a decline of 53% relative to the index. The worst absolute loss has been 50%.
Periods of worst performance
| Absolute | -50.00% (October 2006 - February 2008) |
| Relative | -53.00% (May 2006 - October 2007) |
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 2020
| 5.1% | Henderson Alternative Strategies |
| 4.7% | Schroder Asian Total Return Investment Company Ord 5p |
| 4.2% | Bh Macro Eur |
| 3.9% | Janus Henderson Henderson European Focus Trust Ord 50p |
| 3.7% | Jpmorgan Asia Growth & Income |
| 3.6% | Monks It |
| 3.5% | Real Estate Credit Investments |
| 3.5% | Pantheon International Plc |
| 3.4% | Edinburgh Investment Tst Plc (The) |
| 3.3% | Utilico Emerging Markets Ltd |
| Source: Trustnet |
Key Investor Information