Threadneedle American Extended Alpha C2

130/30 fund with both long and short exposure to the US market.

  • 675.86p
    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.

  • -
    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!

  • 0.75%
    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).

  • 0.79%
    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.

  • 0.00%
    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 14 June 2021

The investment objective of the fund is to achieve above average capital growth. To seek its objective, the fund invests at least two-thirds of its assets in companies in North America or companies that have significant operations there. The Fund invests directly in shares or by using derivatives. The Fund may also make use of short selling techniques and leverage.

Fund summary

Sector North America
Structure OEIC
Launched October, 2007
Size £68m
Yield 0.00%
Charging basis
Dividends paid

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.79%

Allocation

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Investment process

The aim of the fund is to achieve above average capital growth. The fund manager will actively manage an exposure primarily to North American equities. The fund may be invested in equities, derivatives, forward transactions, collective investment schemes, other securities (including fixed interest securities and money market securities), deposits and cash. The fund manager may consider to invest up to one third of the total assets of the fund in markets other than North America. Exposure to North American and other markets may be through both long and short positions. In order to gain short exposure and leverage, the fund manager will use derivatives and may from time to time consider currency hedging and interest rate exposure. He may also use derivatives in order to gain long exposure. All short exposure must be sought synthetically.

Manager research

Average monthly relative returns

  • 16/17 0.22%
  • 17/18 0.42%
  • 18/19 -0.04%
  • 19/20 0.21%
  • 20/21 0.08%

Bestinvest MRI

  • 3 years 0.08%
  • 5 years 0.18%
  • Career 0.05%
  • 3 years 72.20%
  • 5 years 89.30%
  • Career 75.80%

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

Neil Robson / Ashish Kochar

Track record

Neil Robson / Ashish Kochar has 7.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.05%. During the worst period of relative performance (from February 2014 - June 2016) there was a decline of 11% relative to the index. The worst absolute loss has been 15%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 76%.

Periods of worst performance

Absolute -15.00% (January 2020 - March 2020)
Relative -11.00% (February 2014 - June 2016)

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 May 2020

9% Alphabet Inc. Class A
8.2% Microsoft Corp
7.9% Amazon.com Inc
7.2% Berkshire Hathaway Inc
5.2% Facebook Inc
4.9% Adobe Inc
4.4% Microchip Technology
4.2% Visa Inc
4.2% Lam Research Corp
4.1% Mastercard Inc
Source: Trustnet

Sector breakdown

Information Technology 30.00%
Communications 20.00%
Financials 12.00%
Health Care 12.00%
Consumer Discretionary 10.00%
Industrials 6.00%
Consumer Staples 3.00%
Cash & Cash Equivalents 3.00%
Energy 2.00%
Money Market 2.00%

Portfolio

The fund will hold 30-80 stocks in the long book and 30-80 in the short book.

Constraints

Maximum leverage of 100%; maximum long short ratio is 150/50.

Key Investor Information

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