fund

Rated

This is one of our rated funds. They’re the ones our experts believe will do well for investors over the longer term. Top of the class!

TB Evenlode Global Income F GBP

  • 140.65p
    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.

  • 153.31p
    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!

  • 0.55%
    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).

  • 0.55%
    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.

  • 2.00%
    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 27 September 2021

The Evenlode Global Income Fund is a concentrated portfolio of highly cash-generative companies from around the world. It’s designed to provide you with an attractive income today and prospects for strong income growth in the future. The fund has a large-cap bias and the process emphasises high-quality businesses. This typically leads to a bias to more stable sectors such as consumer goods and health care and away from more volatile industries like mining and banks.

Fund summary

Sector Global Equity Income
Structure OEIC
Launched
Size £1,345m
Yield 2.00%
Charging basis Capital
Dividends paid Apr, Jul, Oct, Jan

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 0.55%
Ongoing charges figure 0.55%

Allocation

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Investment process

The fund can apply the Evenlode investment process to a global opportunity set. Quantitative factors. Most import of these is high and consistent profitability – this is seen as an indicator of sustainable competitive advantage. The manager also looks for asset-light companies with low capital expenditure, as these can fund their own growth and pay sustainable dividends. Low leverage is also considered important. Qualitative factors. The manager looks for companies with hard to replicate business models, with low risk of substitution or from disruptive technologies. He also looks for intangible assets such as brands, which create the perception of uniqueness to customers. Pricing power is also important, and he avoids sectors subject to price regulation. These screens leave a universe of around 120 stocks that are investable at the right price. The manager creates valuation models for all stocks in this universe based on Cashflow Return on Investment. He then forms the portfolio, primarily from the stocks with the highest projected returns based on these models. However, reliability of returns, diversification and level of dividends are also taken into account.

Evenlode Global Income follows in the footsteps of the highly successful Evenlode Income fund, which is a more UK centric product. With the team already investing in global businesses within their UK strategy, we view the Evenlode Global Income fund as very much a natural progression of the Evenlode investment philosophy and approach. Whilst still relatively new the investment results for the global fund have been encouraging with the fund delivering an attractive but growing income, strong performance versus the benchmark but with lower volatility.

Manager research

Average monthly relative returns

  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%
  • 20/21 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

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

Track record

Periods of worst performance

Absolute 0.00% ()
Relative 0.00% ()

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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Sector breakdown

Consumer Goods 28.00%
Health Care 20.00%
Technology 19.00%
Media 18.00%
Services 9.00%
Money Market 3.00%
Transport 1.00%
Industrials 1.00%

Portfolio

c 40 holdings

Key Investor Information - Income

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Key Investor Information - Accumulation

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