Threadneedle UK Monthly Income Z

Primarily a UK equity fund, this targets above average income as well as growth.

  • 107.00p
    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).

  • 0.87%
    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.

  • 6.10%
    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 28 May 2020

Fund summary

Sector UK Equity Income
Structure OEIC
Launched October, 2012
Size £329m
Yield 6.10%
Charging basis Capital
Dividends paid 4th day of each month

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 0.87%

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Investment process

The fund will seek to achieve an above average income combined with sound prospects for capital growth. The fund will invest primarily in UK equities. It may, however, invest in other securities, such as convertibles and gilts.

Manager research

Average monthly relative returns

  • 15/16 0.42%
  • 16/17 -0.54%
  • 17/18 -0.56%
  • 18/19 -0.12%
  • 19/20 0.30%

Bestinvest MRI

  • 3 years -0.13%
  • 5 years -0.10%
  • Career 0.02%
  • 3 years 33.70%
  • 5 years 42.50%
  • Career 94.10%

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

Jonathan Barber

Barber manages UK equity portfolio and is also head of the Global Utilities sector research team. He began his career in 1990 with Scottish Equitable as an investment analyst. He joined Eagle Star Investment Managers as a portfolio manager in 1992, and joined the Threadneedle UK equity team in 1994. Barber graduated in 1989 with a BSc (Hons) in Business Administration from Bath University and is an associate member of the UK Society of Investment Professionals (UKSIP).

Track record

Jonathan Barber has 17.9 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.02%. During the worst period of relative performance (from December 2015 - May 2019) there was a decline of 17% relative to the index. The worst absolute loss has been 36%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 94%.

Periods of worst performance

Absolute -36.00% (October 2007 - March 2009)
Relative -17.00% (December 2015 - May 2019)

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 January 2020

7% Glaxosmithkline
5% Astrazeneca Plc
4.8% Royal Dutch Shell
3.8% Legal & General Group
3.4% Phoenix Group Hldgs
3.3% Bae Systems
3.3% Imperial Brands Plc
3.3% Relx Plc
3.1% Chesnara
2.6% Royal Bank Of Scotland Group Plc
Source: Trustnet

Sector breakdown

Financials 31.00%
Consumer Services 13.00%
Consumer Goods 13.00%
Health Care 12.00%
Industrials 11.00%
Utilities 7.00%
Oil & Gas 6.00%
Basic Materials 5.00%
Cash & Cash Equivalents 3.00%
Telecommunications 2.00%

Key Investor Information

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