VT Momentum Diversified Growth B

A multi asset class portfolio structured to provide capital growth.

  • 212.72p
    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).

  • 1.26%
    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.

  • 2.10%

    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 18 June 2021

The objective of the fund is to provide capital growth mainly through exposure to equities, without taking undue risk. This is potentially a one-stop product for investors, which sets itself apart by the inclusion of third party specialist managers and alternative asset classes. Simon Edwards the manager from launch in 2002 resigned on 30th June 2011 and the co-manager Simon Callow took over the management. This prompted us to downgrade this from 2 stars to 1 star.

Fund summary

Sector Mixed Investment 40-85% Shares
Structure OEIC
Launched March, 2012
Size £153m
Yield 2.10%
Charging basis Income
Dividends paid Acc units only


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 1.26%


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Investment process

The fund is initially structured using a top down approach and subsequently a sector overlay. The equity element of the portfolio is complemented by a smaller spread of investments in Fixed Income, Property, Structured Products, Commodities, Venture Capital and Hedge Funds, with the aim of reducing volatility, providing diversification and introducing an element of total return into the portfolio. The diversification is intended to help the portfolio to outperform in down markets, whilst in rising markets the management rely on astute asset and sector calls to at least maintain pace with market movements. The fund is built around a core of direct holdings in FTSE 350 equities, gilts and investment grade debt securities. Exposure to other assets classes will normally be via open ended and closed collective investment products.

Manager research

Average monthly relative returns

  • 16/17 0.00%
  • 17/18 0.10%
  • 18/19 0.40%
  • 19/20 -0.78%
  • 20/21 1.11%

Bestinvest MRI

  • 3 years 0.24%
  • 5 years 0.17%
  • Career 0.01%
  • 3 years 83.20%
  • 5 years 85.10%
  • Career 77.30%

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

Simon Callow

Callow joined Midas Capital Partners in October 2005 and has over 15 years investment management experience, including private client stockbroking and discretionary fund management. He spent eight years with BWD Rensburg, as an associate director, is a Chartered Fellow of the Securities Institute and is IMC qualified.

Track record

Simon Callow has 9.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.01%. During the worst period of relative performance (from July 2011 - June 2016) there was a decline of 17% relative to the index. The worst absolute loss has been 23%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 77%.

Periods of worst performance

Absolute -23.00% (December 2019 - March 2020)
Relative -17.00% (July 2011 - 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.


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Top 10 holdings

Data accurate as at 31 July 2020

7.4225% Morant Wright Fuji Yield Gbp Dis
6.3529% Goodhart Partners Hmg Global Emerging Markets Equity A Gbp
5.3401% Samarang Asian Prosperity A1 Cap Gbp
4.6933% Invesco European Equity Income (Uk) Z Acc
4.009% Ninety One Global Gold I Acc Gbp
3.2398% Invesco Physical Gold Etc Usd
3.1193% Absalon - Em Corporate Debt-I Gbp Acc
3.0791% Royal London Short Duration Global High Yield Bond Z Inc
2.9756% Royal London Sterling Extra Yield Bond Z Inc
2.9336% Stewart Investors Asia Pacific Sustainability B Gbp Acc
Source: Trustnet

Sector breakdown

Financials 10.00%
Japanese Equities 8.00%
Europe ex UK Equities 7.00%
Mutual Funds 7.00%
Global Emerging Market Equities 6.00%
International Fixed Interest 6.00%
Industrials 6.00%
Property 6.00%
Asia/Pacific Equities 5.00%
Consumer Discretionary 4.00%


Asset class exposure operates within predefined ranges, core long-term levels are equities: 60%, bonds: 15%, alternative assets: 25%. Compared to competitor funds the model portfolio has a relatively high weighting in International Equities at 25%.


Maximum exposure to any security: 3%, specialist fund: 5%.

Key Investor Information