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Fund managers

* Thomas Buckingham01-Dec-2010 to Present
Ben Stapley»01-Jul-2012 to Present
Ian Butler»01-Jul-2012 to Present
James Illsley»01-Mar-2006 to 01-Jul-2012
Sarah Emly»01-May-2009 to 31-Oct-2010
Jamieson Streeter»31-Jul-2003 to 31-May-2009
Christopher Llewelyn»30-Jan-2003 to 28-Feb-2006
James Elliot»31-Jul-2003 to 31-Dec-2004
James Soutter»31-Jul-2003 to 31-Aug-2003
James Inglis-Jones»01-Jan-2001 to 30-Jun-2003
Gary West»01-Jul-1996 to 06-Nov-2002

Investment objectives

To provide income and prospects of capital growth by investing primarily in equity and equity-linked securities of UK companies. The Fund aims to provide a higher income yield than the yield on the FTSE™ AllShare Index.

Key Information

Fund vs sector

  1y 3y
Position 71 / 92 56 / 89
Quartile 4 3

Fund ratings

FE Crown Rating: 3 FE Crown Rating


  1y 3y
Volatility 8.51 9.59
Alpha -1.37 -1.90
Beta 1.02 1.06
Sharpe 0.06 0.99
Info Ratio -0.59 -0.56
R2 0.94 0.95
Quartiles:   1  2  3  4   help with ratios
vs. UK Equity Income»
performance chart
ACC +2.0+41.5+57.8+18.0+17.6-5.3+17.8
  UK EQUITY INCOME   +4.2+47.6+64.3+21.1+16.9-4.5+16.5
Clean share class
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf JPM UK HIGHER INCOME B ACC ACC 855.90 (p) 19-Dec-2014 3.90 1.18% 0YEO B1YXFY0
pdf JPM UK HIGHER INCOME B INC INC 520.40 (p) 19-Dec-2014 4.01 1.18% 0YEP B1YXG03
pdf JPM UK HIGHER INCOME C ACC ACC 127.00 (p) 19-Dec-2014 3.89 0.93% 0YEQ B235RX7
pdf JPM UK HIGHER INCOME C INC INC 117.50 (p) 19-Dec-2014 4.00 0.93% 0YER B235S12
Other share classes
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf JPM UK HIGHER INCOME A INC INC 514.90 (p) 19-Dec-2014 4.04 1.68% RT08 3087817
pdf JPM UK HIGHER INCOME A ACC ACC 849.60 (p) 19-Dec-2014 3.92 1.68% RT09 3087840

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£284.5m / $444.2m (31-Oct-14)
Savings plan Fund has Savings Plan Minimum: £ 100.0 Monthly Launch01-Nov-1959
Pricing times12:00 Daily Dealing frequencyMonday-Friday
Dealing timesMon-Fri 08:30 to 17:00
Minimum initial£ 1,000
Minimum additional£ 100
Initial charge4.25%
Annual management charge1.50%
Note to chargesInitial Charges: ; Annual Management Charges: ;
Trustee / DepositaryNational Westminster Bank plc
RegistrarJPMorgan Asset Management Marketing Limited
Dividend policyFeb 01 (Final), Aug 01
Peer groups
Region Asset Class Investment Focus Sector
United Kingdom Equity Mixed UK Equity Income
Largest holdings, 31-Oct-2014
Holding (%) Rank Fund factsheet Equity factsheet
HSBC HLDGS 6.40 2 - -
BP 4.60 3 - *
BARCLAYS PLC 2.50 8 - *
RIO TINTO 2.40 9 - *
NATIONAL GRID 2.40 10 - *
Regional weightings, 31-Oct-2014
UK99.801 99.80% UK
Money Market0.202 0.20% Money Market
Sector weightings, 31-Oct-2014
Financials35.101 35.10% Financials
Oil & Gas12.902 12.90% Oil & Gas
Consumer Goods11.903 11.90% Consumer Goods
Consumer Services9.204 9.20% Consumer Services
Industrials7.205 7.20% Industrials
Telecommunications7.006 7.00% Telecommunications
Basic Materials6.607 6.60% Basic Materials
Utilities5.308 5.30% Utilities
Health Care3.409 3.40% Health Care
Technology1.2010 1.20% Technology
Money Market0.2011 0.20% Money Market

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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Asset allocation

UK Equities, 99.80%
99.8000% ofUK Equities
Money Market, 0.20%
0.2000% ofMoney Market

FE Adviser Fund Index

Sector analysis


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