S&W Kennox Strategic Value Institutional

A global equity fund, offering long term capital appreciation and appreciation.

  • 112.40p
    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.

  • 135.20p
    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?

  • 5.00% 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!

  • 1.00%
    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).

  • 1.13%
    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.

  • 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…

Prices as at 22 January 2021

Fund summary

Sector Global
Structure OEIC
Launched April, 2013
Size £102m
Yield 2.10%
Charging basis
Dividends paid Jan & May

Charges

Standard initial charge 5.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.00%
Ongoing charges figure 1.13%

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Investment process

Manager research

Average monthly relative returns

  • 16/17 0.47%
  • 17/18 -0.77%
  • 18/19 0.04%
  • 19/20 -1.35%
  • 20/21 -1.92%

Bestinvest MRI

  • 3 years -1.07%
  • 5 years -0.70%
  • Career -0.31%
  • 3 years 0.10%
  • 5 years 1.40%
  • Career 18.70%

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

Kennox Asset Management

Charles Heenan is the investment management team leader, he has 16 years experience in global stock markets. In 1997 he moved into equities asset management with First State Investments (then called Stewart Ivory) where he was involved in all aspects of the Asia Pacific (ex Japan) and Emerging Markets team’s investment activities. Specific roles included developing a sector based research effort, responsibility for the Emerging Europe Middle East and Africa section of the portfolios, and responsibility for Greater China (Hong Kong, China and Taiwan). Prior to this Heenan was with Brockhouse & Cooper, a consultant and broker firm based in Montreal. Heenan achieved the Chartered Financial Analyst designation in 1995.

Track record

Kennox Asset Management has 13.4 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.31%. During the worst period of relative performance (from February 2009 - November 2020) there was a decline of 60% relative to the index. The worst absolute loss has been 20%.

Periods of worst performance

Absolute -20.00% (September 2018 - October 2020)
Relative -60.00% (February 2009 - November 2020)

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.

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Top 10 holdings

Data accurate as at 31 July 2020

8.78% Newmont Corp
6.08% Newcrest Mining
4.48% China Mobile Ltd
4.3% Yamana Gold Inc
4.07% Equinor Asa
4.06% Singapore Telecommunications
4.02% Swisscom Ag
4.01% Western Union Company (The)
3.97% Tesco
3.86% Fukuda Denshi Co
Source: Trustnet

Sector breakdown

Materials 19.00%
Communications 19.00%
Energy 13.00%
Information Technology 12.00%
Money Market 11.00%
Health Care 9.00%
Consumer Discretionary 6.00%
Financials 6.00%
Consumer Staples 4.00%
Industrials 3.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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