Fact sheet: Schroder Income Maximiser

Fund information
Fund name
Schroder Income Maximiser Z Acc
Fund manager company
Schroder UT Managers
Fund type
Unit Trust
Fund managers
  • Scott Thomsonsince 01/09/2017
  • Nick Kirragesince 26/07/2016
  • Mike Hodgsonsince 26/07/2016
  • Kevin Murphysince 26/07/2016
  • Jeegar Jaganisince 01/09/2017
Fund objective
The fund aims to provide income and capital growth. The fund aims to deliver a target income of 7% per year but this is not guaranteed and could change depending on market conditions. At least 80% of the fund will be invested in shares of UK companies. The fund has no bias to any particular industry or size of company. The fund invests in 'value' stocks – those whose share prices appear low relative to their long-term profit potential, and which are typically paying an attractive and growing dividend. The fund generates its income from two sources; dividends received from shares in companies; and cash received from selling some potential future growth of the fund's holdings using derivatives. The fund may also invest in other financial instruments and hold cash on deposit. Derivatives will be used to achieve the investment objective and to reduce risk or manage the fund more efficiently. The strategy will typically underperform a similar portfolio without derivatives in periods when the underlying stock prices are rising, and outperform when the underlying stock prices are falling.
Benchmark
  • FTSE All Share TR
Investment style
None
Investment method
Shares
Quick stats
1 Year return
12.2%
1 Year rank in sector
4/94
Sector
UT UK Equity Income
Yield
6.9%
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.
0.91%
Fund size
£1,186m (£1,079m 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.
83
Bid price
89.18
Offer price
89.66
Top in this sector
Fund name1 Year
Man GLG UK Income14.5%
Schroder Income14.4%
JOHCM UK Equity Income12.7%
Schroder Income Maximiser12.2%
MI Chelverton UK Eq Inc10.7%
...more in UT UK Equity Income

Performance snapshot

Holdings snapshot

  • UK83.6%
    USA9.9%
    Australia4.3%
    Money Market3.4%
    Not Specified-1.2%
  • Financials31.6%
    Consumer Services21.5%
    Basic Materials12%
    Health Care9.4%
    Oil & Gas7.9%
  • UK Equities83.6%
    US Equities9.9%
    Australian Equities4.3%
    Money Market3.4%
    International Equities-1.2%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund3.2%1.6%4.8%12.2%19.6%52.2%
Sector1.8%-3.5%-2%3.2%14.3%45.2%
Rank within sector8 / 1001 / 983 / 964 / 9419 / 8532 / 81
Quartile1st1st1st1st1st2nd
Calendar performance
 YTD - 20182017201620152014
Fund3.6%8.4%20.7%-6.3%3.2%
Sector-3.1%11.2%9.1%4.9%2.8%
Rank within sector2 / 9872 / 934 / 8882 / 8347 / 82
Quartile1st4th1st4th3rd
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.
1.37
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.
0.85
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.
0.18
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%.
8.98
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.
5.42
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.
0.11
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.
0.66
Price movement
52 week high89.18
52 week low79.08
Current bid price89.18
Current offer price89.66
Current mid price-
Region
1UK83.63%
2USA9.86%
3Australia4.26%
4Money Market3.44%
5Not Specified-1.18%
Industry sector
1Financials31.64%
2Consumer Services21.48%
3Basic Materials12.03%
4Health Care9.39%
5Oil & Gas7.89%
6Technology7.78%
7Utilities5.92%
8Money Market3.44%
9Telecommunications1.53%
Asset type
1UK Equities83.63%
2US Equities9.86%
3Australian Equities4.26%
4Money Market3.44%
5International Equities-1.18%
Individual holdings
1HSBC HLDGS5.57%
2PEARSON5.35%
3BP5.17%
4GLAXOSMITHKLINE5.16%
5ANGLO AMERICAN4.99%
6AVIVA4.51%
7CENTRICA PLC4.5%
8SOUTH32 LTD4.23%
9MORRISON(WM.)SUPERMARKETS3.97%
Management
Fund manager group
Schroders
Fund manager company
Schroder UT Managers
Fund type
Unit Trust
Fund objective
The fund aims to provide income and capital growth. The fund aims to deliver a target income of 7% per year but this is not guaranteed and could change depending on market conditions. At least 80% of the fund will be invested in shares of UK companies. The fund has no bias to any particular industry or size of company. The fund invests in 'value' stocks – those whose share prices appear low relative to their long-term profit potential, and which are typically paying an attractive and growing dividend. The fund generates its income from two sources; dividends received from shares in companies; and cash received from selling some potential future growth of the fund's holdings using derivatives. The fund may also invest in other financial instruments and hold cash on deposit. Derivatives will be used to achieve the investment objective and to reduce risk or manage the fund more efficiently. The strategy will typically underperform a similar portfolio without derivatives in periods when the underlying stock prices are rising, and outperform when the underlying stock prices are falling.
Benchmark
  • FTSE All Share TR
Investment style
None
Investment method
Shares
Fund managers
NameSinceBiography
Scott Thomson01/09/2017
Nick Kirrage26/07/2016Co-manager of Schroder UK Income, Schroder UK Recovery and Global Recovery funds, Founding member of the Global Value Team in 2013, Investment career commenced in 2001 within Schroders’ Pan European research team, Previously analyst responsible for a number of sectors including Transport, Metals & Mining and Aerospace and Defence sectors, Chartered Financial Analyst, Degree in Aeronautical Engineering, Bristol University
Mike Hodgson26/07/2016Mike Hodgson is Head of Risk Managed Investments & Structuring at Schroders and has over 25 years of experience in financial markets. At Royal Bank of Scotland (formerly of ABN AMRO) he was Global Head of Equity Derivatives Structuring and Head of Fund Derivatives Trading and Structuring.
Kevin Murphy26/07/2016Co-manager of Schroder UK Income, Schroder UK Recovery and Global Recovery funds, Founding member of the Global Value Team in 2013, Investment career commenced in 2000 in Schroders’ UK Equity fund management team, Previously sector analyst for Pan European Construction and Building Materials, Chartered Financial Analyst, Degree in Economics, Manchester University
Jeegar Jagani01/09/2017
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Schroder Income Maximiser A Acc
Initial charge-
Annual charge1.5%
Min single investment£1,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)1.66%
Total expense ratio (TER)-
Bid price114.8
Offer price115.4
Mid price-
CurrencyGBX
Price updated18/04/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeRZ83
Schroder Income Maximiser A Inc
Initial charge-
Annual charge1.5%
Min single investment£1,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)1.66%
Total expense ratio (TER)-
Bid price46.56
Offer price46.81
Mid price-
CurrencyGBX
Price updated18/04/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeRZ93
Schroder Income Maximiser L Acc
Initial charge-
Annual charge0.68%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.84%
Total expense ratio (TER)-
Bid price69.68
Offer price70.05
Mid price-
CurrencyGBX
Price updated18/04/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJOVN
Schroder Income Maximiser L Inc
Initial charge-
Annual charge0.68%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.84%
Total expense ratio (TER)-
Bid price50.78
Offer price51.05
Mid price-
CurrencyGBX
Price updated18/04/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJOVO
Schroder Income Maximiser Z Acc
Initial charge-
Annual charge0.75%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.91%
Total expense ratio (TER)-
Bid price89.18
Offer price89.66
Mid price-
CurrencyGBX
Price updated18/04/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNND1
Schroder Income Maximiser Z Inc
Initial charge-
Annual charge0.75%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.91%
Total expense ratio (TER)-
Bid price55.02
Offer price55.32
Mid price-
CurrencyGBX
Price updated18/04/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNND2
Data provided by

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