fund
Threadneedle UK Smaller Companies Z
Targets capital growth from the equities of small UK companies.
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297.51p
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.
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256.28p
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?
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0.00%
Initial chargeSome 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!
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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).
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0.91%
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.
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0.20%
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…
Fund summary
| Sector | UK Smaller Companies |
| Structure | OEIC |
| Launched | November, 2012 |
| Size | £240m |
| Yield | 0.20% |
| Charging basis | |
| Dividends paid | May & Nov |
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 | 0.91% |
Allocation
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Investment process
The aim of the fund is to achieve capital growth by investing primarily in the equities of smaller companies in the UK.
Manager research
Average monthly relative returns
- 16/17 -0.15%
- 17/18 1.07%
- 18/19 -0.84%
- 19/20 1.43%
- 20/21 0.77%
Bestinvest MRI
- 3 years 0.45%
- 5 years 0.46%
- Career 0.37%
- 3 years 85.30%
- 5 years 93.30%
- Career 99.50%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
James Thorne
Thorne joined Threadneedle in 2010. He has extensive experience of the smaller companies sector, having previously worked at Baring Asset Management from 2004 and 3i Group plc. Prior to this he was a member of Hill Samuel Asset Management’s Small Cap Team. He graduated from University of Southampton with a BSc (Hons) in Oceanography with Geology. He also has a Masters in Instrumentation and Analytics from the University of Manchester. Thorne was awarded the Investment Management Certificate in 1999 and the Institute of Investment Management & Research (IIMR) qualification in 2001.
Track record
James Thorne has 15.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.37%. During the worst period of relative performance (from January 2009 - September 2009) there was a decline of 26% relative to the index. The worst absolute loss has been 50%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is more than 99%.
Periods of worst performance
| Absolute | -50.00% (May 2007 - March 2009) |
| Relative | -26.00% (January 2009 - September 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
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Top 10 holdings
Data accurate as at 31 May 2020
| 4.2% | Future Plc |
| 3.8% | Avon Rubber |
| 3.6% | Blue Prism Group Plc |
| 3.5% | Marlowe Plc |
| 3.3% | Clinigen Group Plc |
| 3% | Stock Spirits Group Plc |
| 2.9% | Knights Group Hldgs Plc |
| 2.7% | First Derivatives Plc |
| 2.7% | Paypoint |
| 2.5% | Team17 Group Plc |
| Source: Trustnet |
Sector breakdown
| Industrials | 24.00% |
| Information Technology | 21.00% |
| Communications | 15.00% |
| Consumer Discretionary | 13.00% |
| Health Care | 8.00% |
| Financials | 6.00% |
| Consumer Staples | 6.00% |
| Cash & Cash Equivalents | 3.00% |
| Materials | 3.00% |
| Money Market | 1.00% |