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Fund name
Aberdeen American Growth  
Fidelity American  
Schroder UK Mid 250  
M&G Recovery  
Jupiter Merlin UK Growth  
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Contact details

Oakhill House, 130 Tonbridge Road, Hildenborough, Tonbridge, Kent, TN11 9DZ
0800 783 9646 (Fax Number)
0800 41 41 61 (Investor Helpline)
44 1737 83 8000 (Main Number)

Fund managers

* Michael Clark01-Jul-2008 to Present
John Stavis»01-Jan-2004 to 30-Jun-2008
Timothy McCarron»01-Nov-1996 to 31-Dec-2003
Samuel Morse»01-Aug-1995 to 31-Oct-1996
Chellew Thomas»01-Feb-1993 to 31-Jul-1995
John Hickling»01-Dec-1991 to 31-Jan-1993
Stuart Bottomley»01-Apr-1989 to 30-Nov-1991
Bruce Russell»10-Nov-1980 to 31-Mar-1989

Investment objectives

The fund aims to provide income and long-term capital growth. It invests primarily in investments in the UK, including ordinary shares, preference shares, convertibles and bonds. The portfolio is likely to have a bias towards larger companies and has the freedom to invest outside the fund’s principal geographies, market sectors, industries or asset classes. It can use derivatives with the aim of risk or cost reduction or to generate additional capital or income in line with the fund’s risk profile.

Key Information

Fund vs sector

  1y 3y
Position 19 / 93 38 / 87
Quartile 1 2

Fund ratings

BronzeMstar OBSR
FE Crown Rating: 5 FE Crown Rating


  1y 3y
Volatility 8.37 8.93
Alpha 1.83 3.01
Beta 0.88 0.80
Sharpe 0.88 1.29
Info Ratio 0.17 0.06
R2 0.82 0.80
Quartiles:   1  2  3  4   help with ratios
vs. UK Equity Income»
performance chart
INC +7.9+49.9+80.7+19.4+16.3+5.3+14.5
  UK EQUITY INCOME   +6.3+48.8+66.8+21.4+15.3+0.8+11.3
Clean share class
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf FIDELITY MONEYBUILDER DIVIDEND Y INC INC 127.60 (p) 17-Sep-2014 4.10 0.67% 0VNB B3LNGT9
Other share classes
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf FIDELITY MONEYBUILDER DIVIDEND INC INC 255.90 (p) 17-Sep-2014 4.10 1.20% FJ83 0386090
pdf FIDELITY MONEYBUILDER DIVIDEND A ACC ACC 108.90 (p) 17-Sep-2014 n/a 1.20% JTYB BFRT3B6

The Ongoing Charges Figure (OCF) shows the drag on performance caused by operational expenses associated with a fund.

Expenses which are represented by this figure include payments to the manager, the trustee the custodian and their representatives. The figure also includes registration, regulatory, audit and legal fees, and the costs of distribution.

Performance fees, transaction costs, interest on borrowing, costs associated with derivatives, entry and exit fees and soft commissions are not included in the OCF calculation, and should be factored in separately by the investor.

The OCF is calculated by taking the sum of these expenses incurred in the last 12 months and dividing this by the average net assets of that class for the last 12 months.

Total Expense Ratio (TER) is a formula designed to show the ongoing costs to the investor associated with a fund, including some charges which are not factored into the annual management fee. In addition the fund’s annual fee, charges such as trading fees, audit and legal fees, and operational expenses are included in the TER, which is worked out by dividing the total cost of the fund by its total assets to arrive at a percentage.

Unlike the Ongoing Charges Figure, the TER takes into account performance fees. It does not include transaction costs paid to the custodian.

Detailed fund information
Fund type flag UK Open Ended Investment Company (OEIC)
Own ISA wrapper Fund has ISA Wrapper help with ratios Fund size£941.0m / $1,525.9m (31-Jul-14)
Savings plan Fund has Savings Plan Minimum: £ 50.0 Monthly Launch10-Nov-1980
Pricing times12:00 Daily Dealing frequencySeven days per week
Dealing timesn/a
Minimum initial£ 1,000
Minimum additional£ 250
Initial charge1.00%
Annual management charge1.00%
Note to chargesInitial Charges: ;
Trustee / DepositaryJP Morgan Trustee and Depositary Company Ltd
RegistrarFidelity Investment Services Limited
Dividend policyMar 01 (Final), Jun 01, Sep 01, Dec 01
Peer groups
Region Asset Class Investment Focus Sector
United Kingdom Equity Mixed UK Equity Income
Largest holdings, 31-Jul-2014
Holding (%) Rank Fund factsheet Equity factsheet
BAE SYSTEMS 3.80 4 - *
HSBC HLDGS 3.70 6 - *
BP 3.60 7 - *
BT GROUP 3.00 9 - *
Regional weightings, 31-Jul-2014
UK89.101 89.10% UK
Switzerland3.402 3.40% Switzerland
USA2.203 2.20% USA
Uninvested cash2.104 2.10% Uninvested cash
France1.805 1.80% France
Germany1.406 1.40% Germany
Sector weightings, 31-Jul-2014
Health Care17.601 17.60% Health Care
Consumer Goods17.502 17.50% Consumer Goods
Financials17.403 17.40% Financials
Utilities12.904 12.90% Utilities
Industrials11.105 11.10% Industrials
Oil & Gas9.206 9.20% Oil & Gas
Consumer Services6.607 6.60% Consumer Services
Telecommunications5.108 5.10% Telecommunications
Uninvested cash2.109 2.10% Uninvested cash
Basic Materials0.5010 0.50% Basic Materials

All prices in Pence Sterling (GBX) unless otherwise specified. Price total return performance figures are calculated on a bid price to bid price basis (mid to mid for OEICs) with net income (dividends) reinvested. Performance figures are shown in Sterling unless otherwise specified.

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olderinvestor May 01st, 2013 at 11:38 AM

The reason for the higher than average yield is that the stocks have lower than average growth prospects. Two top holdings are Big Pharma companies, suffering expiry of patents on profitable drugs, lack of new blockbusters in pipeline and pricing pressure from NHS: plus two companies flogging cigarettes, literally a dying business.

Theo Jan 16th, 2013 at 05:58 PM

The bar chart shows that this fund has underperformed its sector in 2 years out of the last 3 and yet it has been awarded 5 FE crowns (top 10%)!

I have noticed things like this one in many other cases and unless something is done the whole system will be discredited.

Satish Mittal May 04th, 2012 at 09:30 PM

The chart is pretty frightening. It has just about recovered the losses suffered on 7th to 9th June2007. It can hardly be called Cautious Choice?

richard howe Jan 22nd, 2011 at 12:07 PM

Continiues to dissapoint, the performance as got worst with the new manager, If they cant keep upo with peer group ,whats the point of in vesting, Dont tell me about undervalued stocks, no wants to!!!!


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Asset allocation

UK Equities, 89.10%
89.1000% ofUK Equities
Swiss Equities, 3.40%
3.4000% ofSwiss Equities
US Equities, 2.20%
2.2000% ofUS Equities
Uninvested cash, 2.10%
2.1000% ofUninvested cash
French Equities, 1.80%
1.8000% ofFrench Equities
German Equities, 1.40%
1.4000% ofGerman Equities

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Sector analysis


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