Bestinvest Logo
Why us
Planning ahead
Insights
fund

TB Evenlode Income C

Bestinvest LogoUK equity fund aiming for long-term total returns, with an emphasis on income.

PRICE (INC)

249.58p

PRICE (ACC)

386.1p

INITIAL CHARGE

5%

0%

ANNUAL MANAGEMENT CHARGE

0.77%

ONGOING CHARGE

0.77%

YIELD

2.6%

1 YEAR
5.73%

Prices as at 11 Aug 2022.

Fund commentary last updated 15 Oct 2021.

Past performance is not an indication of future performance.

Capital at risk.

The fund aims to deliver a combination of healthy dividend income and capital growth over rolling periods of five years. Manager Hugh Yarrow invests in mainly large-cap UK equities which provide a sustainable dividend with the ability to grow consistently in real terms. The portfolio also includes selected US and European stocks. Yarrow uses a bottom-up investment process including quantitative screening to find quality growth companies with high returns on capital and strong free cash flow. The fund’s holdings include drinks giant Diageo, recruitment group Hays and tech titan Microsoft.

Fund summary

SectorUK All Companies
StructureOEIC
LaunchedSeptember 2017
Size£3,065m
Yield2.6%
Charging BasisCapital
Dividends paid31 Jan, 30 Apr, 31 Jul, 30 Oct

Charges

Standard Initial Charge5%
Initial Charge Via BestInvest0%
Additional Bid/Offer Spread0%
Annual Management Charge0.77%
Ongoing Charges Figure0.77%

Investment Process

The fund can invest in UK companies of all sizes plus US and European large caps. These are screened on: 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 80 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.

The information on this website is not intended to be advice or a recommendation to buy, sell or hold any investment mentioned. The value of investments and the income from them can go down as well as up and you may not get back the amount invested.

Past performance is not a guide to future performance. View full risk warning