Factsheet: MI Chelverton UK Equity Income B Acc

UK Equity Income

Rated Fund 2014-2018. Targets yields of 4 per cent-plus

This fund has been highly commended in past Money Observer fund awards. It has been managed since launch in 2006 by David Horner, the founder of Chelverton, and David Taylor.The fund's investment universe is medium-sized and smaller UK companies, which can make it more volatile than others in its peer group over shorter periods. The fund has been a standout performer over the longer term, though.The managers believe that opportunities exist in this area because the 'dull but worthy' smaller companies they favour are often overlooked and under-researched by stockbrokers and other income fund managers. The fund currently yields 4.8 per cent and income is paid quarterly.

They have a clear investment process. They will only invest in a company for the first time if it yields at least 4 per cent on a 12-month view. This is a cast-iron rule to which there are no exceptions.They screen all small and medium-sized companies above �50 million in size on a regular basis to identify targets. The aim is to build a portfolio of companies that will grow their dividends from one year to the next.Providing the managers are satisfied, they will invest in the company and can add to it until the yield falls to 3 per cent following share price appreciation. Once it gets to 2 per cent, it will be sold and another higher yielder will be purchased.

Narrative and ratings content all as of 01 January 2018.

See all Money Observer rated funds
Name
MI Chelverton UK Equity Income B Acc
Manager
Maitland Institutional Services Ltd.
Type
Open Ended Investment Company
ISIN
GB00B1Y9J570
Sector
UK Equity Income
Launched
02/07/2007
OCF
0.86 %
Risk Rating
5
3 Year Sharpe
0.91
3 Year Alpha
7.61
Yield
4.3 %
Benchmark
FTSE AllSh TR GBP
The objective of the Fund is to provide a progressive income stream and achieve long-term capital growth by investing primarily in a portfolio of fully listed and AIM traded UK equities. The Fund will invest primarily in UK companies which aim to provide a high initial dividend; progressive dividend payments, and long-term capital appreciation. The Fund will not invest in derivatives or forward transactions
Holding %
Games Workshop Group PLC 2.06 %
McColl's Retail Group PLC 1.82 %
Ashmore Group PLC 1.80 %
discoverIE Group PLC 1.74 %
Phoenix Group Holdings 1.67 %
Intermediate Capital Group PLC 1.65 %
XP Power Ltd 1.57 %
Hilton Food Group PLC 1.50 %
Ultra Electronics Holdings PLC 1.50 %
Mortgage Advice Bureau (Holdings) PLC 1.49 %
Region %
United Kingdom 98.35 %
Sector %
Consumer Cyclical 26.85 %
Industrials 24.02 %
Financial Services 19.52 %
Technology 11.96 %
Basic materials 6.31 %
Consumer Defensive 5.41 %
Name
Maitland Institutional Services Ltd.
Address
London, United Kingdom
UCITS
Yes
Legal Structure
Open Ended Investment Company

Managers

David Taylor
Joined 11/27/2006

David is an award winning fund manager, who began his career as an analyst in the research department at Wedd Durlacher, later moving into fund management in 1987.He joined Gartmore Investment Limited in 1991. In 1995, he moved to LGT and latterly spent nearly seven years as head of UK smaller companies at HSBC Asset Management. David joined Chelverton Asset Management in January 2006. He earns him a AAA Citywire Fund Manager rating.

David Taylor
Joined 11/27/2006

David is an award winning fund manager, who began his career as an analyst in the research department at Wedd Durlacher, later moving into fund management in 1987.He joined Gartmore Investment Limited in 1991. In 1995, he moved to LGT and latterly spent nearly seven years as head of UK smaller companies at HSBC Asset Management. David joined Chelverton Asset Management in January 2006. He earns him a AAA Citywire Fund Manager rating.

Data provided by Morningstar.

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