Factsheet: Schroder Global Equity Income Z Acc

Global Equity Income

Rated Fund 2015-2018. Takes a patient, value-investing approach

Ian Kelly took over sole responsibility for running this fund in mid 2016, having been a co-manager since 2013. The fund yields 2.9 per cent and pays income half-yearly.He is a member of the company's value investment team, which adopts a contrarian approach. This means he seeks to outperform the market over time by buying stocks for less than their worth. At the same time, he looks for positive and sustainable income trends, aiming to invest in stocks that not only pay a high income at the time of purchase, but also have solid prospects for increasing dividends.In order to find suitable stocks, Kelly combines analysis of global growth trends, interest rate cycles and currencies with analysis at a company level, looking at key metrics such as capital discipline, operational efficiency and stability of earnings.Through this research, he aims to find good opportunities globally to invest in robust, well-managed, cash-generative businesses with sustainable earnings power. As he is buying stocks that are trading at a significant discount to their intrinsic value, this means adopting a long-term investment horizon, waiting for them to come back into favour and for market sentiment to improve, leading to a higher share price.At the end of 2017, the fund had 47 holdings and was less than a third invested in the US, down from nearly 50 per cent a year earlier. The next highest exposures were to Europe and the UK, followed by emerging markets. Overweight sectors included financials, consumer discretionary and energy.

Narrative and ratings content all as of 01 January 2018.

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Schroder Global Equity Income Z Acc
Schroder Unit Trusts Limited
Unit Trust
Global Equity Income
0.94 %
Risk Rating
3 Year Sharpe
3 Year Alpha
3.2 %
The Fund aims to provide income and capital growth by investing in equity and equity related securities of companies worldwide. The Fund invests at least 80% of its assets in equity and equity related securities of companies worldwide which offer sustainable dividend payments. The Fund seeks to invest in a diversified portfolio of equity and equity related securities whose dividend yield in aggregate is greater than the average market yield. Equities with below average dividend yield may be included in the portfolio when the Investment Manager considers that they have the potential to pay above average income in future. The Fund may also invest in collective investment schemes, warrants and money market instruments, and hold cash.
Holding %
Cisco Systems Inc 4.72 %
Eni SpA 4.36 %
HSBC Holdings PLC 3.95 %
Tesco PLC 3.93 %
Ageas NV 3.83 %
American International Group Inc 3.71 %
BNP Paribas 3.62 %
Pearson PLC 3.46 %
Centrica PLC 3.15 %
International Business Machines Corp 3.04 %
Region %
United States 33.65 %
Eurozone 21.40 %
United Kingdom 20.51 %
Asia - Developed 8.28 %
Europe - Emerging 5.07 %
Sector %
Financial Services 26.10 %
Consumer Cyclical 21.26 %
Technology 14.48 %
Energy 13.66 %
Utilities 6.74 %
Consumer Defensive 6.53 %
Schroder Unit Trusts Limited
EC2V 7QA, London, United Kingdom
Legal Structure
Unit Trust


Ian Kelly
Joined 11/29/2013

Ian Kelly – Fund Manager European Equity Fund Manager* – Currently co-manager of the Schroder ISF European Equity Yield and Schroder ISF European Dividend Maximiser – Ian has been working with Sonja Laud in the management of her yield products since February 2010 – Joined Schroders in May 2007 as an analyst specialising in European Insurance and automobiles – Previously completed a PhD in Protein Biophysics at Newcastle University and a Masters degree in Investment Management at Cass Business School, London – CFA Charterholder

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