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TM Stonehage Fleming Opportunities B

UK equity fund with a small cap bias, but will take larger recovery ideas when appropriate.

  • 1675.00p
    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).

  • 0.81%
    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.

  • 1.90%
    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 30 July 2021, fund data last updated 27 February 2006

Paul Mumford began his City career in late 1963. He employs his considerable experience to identify undervalued companies. Companies which are cheap in their own right as well as recovery and special situations are all considered. The fund invests mainly within smaller companies and has a 'value' bias.

Fund summary

Sector UK All Companies
Structure OEIC
Launched February, 1988
Size £119m
Yield 1.90%
Charging basis
Dividends paid 15 Jan, 15 Jul

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 0.81%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 16/17 0.49%
  • 17/18 0.02%
  • 18/19 -0.64%
  • 19/20 -0.13%
  • 20/21 2.52%

Bestinvest MRI

  • 3 years 0.59%
  • 5 years 0.46%
  • Career 0.29%
  • 3 years 83.90%
  • 5 years 89.30%
  • Career 99.50%

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

Paul Mumford

Mumford began his city career in 1963 when he joined stockbrokers Norris Oakley. From 1966-1970 he valued property shares and sold them to institutions. From 1970 he concentrated upon analysing smaller companies. In 1975 he joined stockbrokers R. Nivison with a team of three. He subsequently began to manage portfolios and then in 1994 he took the fund to Cavendish.

Track record

Paul Mumford has 33.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.29%. During the worst period of relative performance (from February 2005 - December 2008) there was a decline of 46% relative to the index. The worst absolute loss has been 59%. 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 -59.00% (June 2007 - December 2008)
Relative -46.00% (February 2005 - December 2008)

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 30 June 2020

8.9% Rockrose Energy Plc
4.1% Eckoh Plc
3.9% Bango
3.8% Serica Energy
3.5% Lok`N Store Group
3.1% Anexo Group Plc
3% Clipper Logistics Plc
2.6% Medica
2.6% Stv Group Plc
2.6% Tt Group
Source: Trustnet

Sector breakdown

Energy 23.00%
Industrials 17.00%
Consumer Discretionary 14.00%
Technology 13.00%
Communications 8.00%
Consumer Staples 8.00%
Financials 7.00%
Health Care 6.00%
Materials 3.00%

Portfolio

There are around 65 holdings within the fund.

Constraints

It is unlikely that any one holding will exceed 5% of the portfolio.

Key Investor Information

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