Fact sheet: Old Mutual Global Equity

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
GLOBAL GROWTH
Sector
UT Global
Fund type
OEIC
Primary aim
GROWTH
Why Money Observer Rates Old Mutual Global Equity

Rated fund 2013-2018. Avoids style bias to follow the money

A past winner of Best Global Growth Fund in Money Observer's annual fund awards, this fund has been overseen since 2004 by Ian Heslop, Old Mutual's head of global equities, with co-managers Amadeo Alenton and Mike Servant.

Rather than sticking to growth or value stocks, they use a variety of styles and follow multiple themes in their portfolio so that they are covering all the different investment styles that can outperform in different market conditions. This produces a highly diversified portfolio ヨ of more than 450 stocks at the end of 2017 ヨ which Heslop says has been very important in stabilising the returns that the fund has achieved over the longer term.

Put at its simplest, the managers look for the types of stocks, such as financial or healthcare, that other investors are buying, and then look for the best companies they can buy to take advantage of these themes. Companies are selected on the basis of five specific criteria that are in the public domain. These are: dynamic valuation or risk appetite; market dynamics and price movements; sustainable growth based on companies' growth prospects; analyst sentiment to take account of announcements; and company managements and their use of capital. These are considered in the context of the ムtemperature of the market'.

However, Heslop stresses that in seeking to determine the current market environment they are not making any forecasts. Instead, they are looking to ムfollow the money', trying to understand the type of stocks that will outperform. Recognising the cyclicality of investment processes, they adjust to market conditions accordingly.<\p>

3 Year Performance
Fund Performance46.7%
Average of Rated Funds Group50.3%
Sector Performance26.6%
Fund information
Fund name
Old Mutual Global Equity R Acc GBP
Fund manager company
Old Mutl Glbl Investors(UK)Ltd
Fund type
OEIC
Fund managers
  • Mike Serventsince 01/12/2004
  • Ian Heslopsince 01/12/2004
  • Amadeo Alentornsince 01/12/2004
Accolades
Winner - Large Fund - Global Growth
Fund objective
To achieve long term capital growth through the active management of a diversified portfolio invested primarily in a broad range of global equities.
Benchmark
  • MSCI World
Investment style
Growth
Investment method
Shares
Quick stats
1 Year return
10.7%
1 Year rank in sector
49/249
Sector
UT Global
Yield
0.4%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1%
Fund size
£858m (£613m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
106
Mid price
248.7
Top in this sector
Fund name1 Year
Aubrey GblConvctin37.8%
Baillie Gifford PostivChng33.8%
Baillie Gifford Gbl Discovery31.1%
Baillie Gifford LgTrmGblGrwInv30.5%
Stan Life Inv GlSmlr Cmp25.8%
...more in UT Global

Performance snapshot

Holdings snapshot

  • North America62.5%
    Europe22.6%
    Japan9.2%
    Asia Pacific ex Japan4.8%
    Middle East/ Africa0.5%
  • Information Technology22.6%
    Financials16.7%
    Health Care14.9%
    Industrials13.2%
    Consumer Discretionary11.2%
  • North American Equities62.5%
    European Equities22.6%
    Japanese Equities9.2%
    Asia Pacific ex Japan Equities4.8%
    Middle East & African Equities0.5%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1.3%-3.9%-0.7%10.7%46.7%121%
Sector-1.2%-4.7%-1.5%7.1%26.6%59.4%
Rank within sector160 / 27368 / 27080 / 26249 / 24910 / 2245 / 201
Quartile3rd2nd2nd1st1st1st
Calendar performance
 YTD - 20182017201620152014
Fund-1.8%14.8%31.2%9.1%15.8%
Sector-3.1%13.6%21%3.4%6.7%
Rank within sector45 / 26973 / 24624 / 23128 / 21910 / 206
Quartile1st2nd1st1st1st
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
3.57
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
1.06
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.81
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
11.44
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
3.09
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
1.29
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.93
Price movement
52 week high262.5
52 week low224.71
Current bid price-
Current offer price-
Current mid price248.7
Region
1North America62.5%
2Europe22.6%
3Japan9.2%
4Asia Pacific ex Japan4.8%
5Middle East/ Africa0.5%
6Money Market0.2%
7Not Specified0.2%
Industry sector
1Information Technology22.6%
2Financials16.7%
3Health Care14.9%
4Industrials13.2%
5Consumer Discretionary11.2%
6Consumer Staples7.4%
7Real Estate5%
8Materials3.5%
9Energy2.6%
Asset type
1North American Equities62.5%
2European Equities22.6%
3Japanese Equities9.2%
4Asia Pacific ex Japan Equities4.8%
5Middle East & African Equities0.5%
6International Equities0.2%
7Money Market0.2%
Individual holdings
1APPLE INC1.6%
2FACEBOOK INC1.5%
3BOEING CO1.1%
4EXXON MOBIL CORP1.1%
5ALPHABET INC1%
6MASTERCARD INC0.9%
7MICROSOFT CORP0.9%
83M CO0.8%
9ADOBE SYSTEMS INC0.8%
Management
Fund manager group
Old Mutual
Fund manager company
Old Mutl Glbl Investors(UK)Ltd
Fund type
OEIC
Fund objective
To achieve long term capital growth through the active management of a diversified portfolio invested primarily in a broad range of global equities.
Benchmark
  • MSCI World
Investment style
Growth
Investment method
Shares
Fund managers
NameSinceBiography
Mike Servent01/12/2004Mike joined Old Mutual in 2004 and co-manages a range of funds within the Old Mutual Global Investors (OMGI) global equity team. He joined from Barra International where he was a senior consultant specialising in the implementation of multi asset-class risk systems. Prior to this he spent five years with COR Risk Solutions, which developed the optimisation, back-testing and modelling software currently used by the global equity team at OMGI. Mike has an MA in physics from the University of Oxford.
Ian Heslop01/12/2004Ian joined Old Mutual in 2000 and is head of global equities at Old Mutual Global Investors. He manages a range of hedge and retail funds and segregated mandates, including market neutral and long only funds. Ian boasts more than 20 years of investment experience and the team has won numerous awards for its funds. Prior to joining Old Mutual, Ian was a UK quantitative fund manager at Barclays Global Investors. He holds an MA in chemistry from the University of Oxford and a PhD in medicinal chemistry, University of Edinburgh. He is an associate of the Society of Investment Professionals.
Amadeo Alentorn01/12/2004Amadeo joined Old Mutual in 2005 and is a fund manager and head of research in the global equity team. Prior to joining Old Mutual, he developed simulation models for systemic and liquidity risk for the Financial Stability Group at the Bank of England, and worked as a software developer for CAD systems and for robotic applications. He holds a BEng in robotics from the University of Plymouth, an MSc in computer science, and a PhD in computational finance from the University of Essex. He is a CFA charterholder.
Compliance
IA Recognised, UCITS V Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Old Mutual Global Equity A Acc GBP
Initial charge4%
Annual charge1.5%
Min single investment£1,000
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.75%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price368.6
CurrencyGBX
Price updated19/04/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeA3G2
Old Mutual Global Equity P Acc GBP
Initial charge4%
Annual charge1%
Min single investment£1,000
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.25%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price210.3
CurrencyGBX
Price updated19/04/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeA3G3
Old Mutual Global Equity R Acc GBP
Initial charge-
Annual charge0.75%
Min single investment£5,000,000
Min regular saving£150,000
Available in ISANo
Ongoing charge (OCF)1%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price248.7
CurrencyGBX
Price updated19/04/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeA3G4
Old Mutual Global Equity U1 Acc GBP
Initial charge-
Annual charge0.68%
Min single investment£75,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)0.93%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price185.5
CurrencyGBX
Price updated19/04/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJMUW
Old Mutual Global Equity U2 Acc GBP
Initial charge-
Annual charge0.6%
Min single investment£250,000,000
Min regular saving£1,000,000
Available in ISANo
Ongoing charge (OCF)0.85%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price187.8
CurrencyGBX
Price updated19/04/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJMUX
Data provided by

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