TB Amati UK Smaller Companies A

A small cap fund managed with a pragmatic investment style.

  • 1045.37p Price (Inc)
  • - Price (Acc)
  • 4.00% 0.85% Initial charge
  • 1.50% Annual management charge
  • 1.83% Ongoing charges
  • 0.40% Yield

Prices as at 09 December 2019, fund data last updated 03 July 2006

The Fund aims to achieve long-term capital growth by investing in UK smaller companies. The fund's manager Paul Jourdan will select companies that he believes have the potential for earnings growth over a three to five year period.

Fund summary

Sector UK Smaller Companies
Structure OEIC
Launched July, 2008
Size £0m
Yield 0.40%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 4.00%
Initial charge via Bestinvest 0.85%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.83%

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Investment process

The objective of this fund is to achieve long term capital growth through investment in UK smaller companies. The fund is managed with a growth style, although the manager will take a directional view on markets, consequently he will look to protect the fund during down periods. Generally the manager is looking for companies where he can see a three to five year story unfold. In terms of company specifics, he targets balance sheet strength, new market share, franchise roll out, pricing power, industry recovery and cost reduction. As well as regularly meeting companies, the manager will also conduct top down (macro) analysis to identify sectors of interest that may benefit from industry and economic trends.

Manager research

Average monthly relative returns

  • 14/15 0.52%
  • 15/16 0.99%
  • 16/17 0.90%
  • 17/18 1.30%
  • 18/19 -0.02%

Bestinvest MRI

  • 3 years 0.73%
  • 5 years 0.74%
  • Career 0.23%
  • 3 years 99.00%
  • 5 years 99.90%
  • Career 98.40%

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

Paul Jourdan

Born in 1965, Jourdan holds an MA and a PhD from Cambridge University. He joined Stewart Ivory in 1998 as a graduate trainee, working on UK and Emerging Market equities. After a spell working in Global Equities, he returned to the UK Equities team as a Portfolio Manager for UK smaller companies. In June 2007 Jourdan joined Noble Fund Managers Limited. In January 2010 he participated in the acquisition of Noble, to be renamed Amati Global Investors Ltd.

Track record

Paul Jourdan has 19 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.23%. During the worst period of relative performance (from February 2005 - April 2009) there was a decline of 32% relative to the index. The worst absolute loss has been 53%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 98%.

Periods of worst performance

Absolute -53.00% (June 2007 - December 2008)
Relative -32.00% (February 2005 - April 2009)

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

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Top 10 holdings

Data accurate as at 31 August 2019

3.2% Intermediate Capital Group
2.9% Spirent Communications
2.3% 4imprint Group Plc
2.3% Onesavings Bank Plc
2.1% Clinigen Group Plc
2.1% Quixant Plc
2.1% Watkin Jones
2% Qinetiq Group
2% Sumo Group Plc
1.9% Manolete Partners Plc
Source: Trustnet

Sector breakdown

Financials 24.00%
Industrials 18.00%
Technology 10.00%
Money Market 10.00%
Consumer Services 10.00%
Consumer Goods 9.00%
Health Care 7.00%
Oil & Gas 6.00%
Basic Materials 3.00%
Telecommunications 2.00%

Portfolio

The fund will usually invest across 60-70 holdings. AIM listed companies may form a large proportion of the fund.

Key Investor Information

Download