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The fund aims to provide a total return to investors based on exposure to optimal income streams in investment markets.
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.
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.
Yes, X class shares have exit charges and no initial but the X class shares also have an AMC of 1.5% compared to 1.25% for A. Hence TER difference.With regards performance, the figures assume all income reinvested (total return) so Acc and Inc have same return numbers.
I think The x class units are for the mandg isa wrapper they have zero initial charges and the exit charges diminish to zero after 5 years, so maybe ok for longer term investors in ISA wrapper?
I thought the only difference between the A and X shares was the initial charge, but I see here the TER is also different. Too complicated for me, no thanks.
How can the A shares grow at the same rate for Income and Accumulation? This can only be if they take 4% on each renewal and then what about the 0.18% - out of 4.18%
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