AXA Framlington UK Select Opportunities Fund
Last NAV 36.1900 GBP as of 18/10/19
Why this fund
For clients looking for sustainable growth in the UK market, this proven performer offers an attractive choice.
The AXA Framlington UK Select Opportunities Fund is a multi-capitalisation, unconstrained equity portfolio based on the stock picking skills and strong, long term performance of the lead manager, Chris St John, one of the most highly regarded fund managers in the industry.
The Fund manager aims to achieve capital growth by investing in companies, primarily of UK origin, where he believes above-average returns can be realised.
Reasons to invest:
- Consistent investment performance over various market cycles
- An unconstrained and fundamental bottom-up stock-picking approach
- A multicap portfoliofocusing on "GARP" (Growth at a Reasonable Price) stocks
- Mid and small cap companies are a rich source of potential added value
- Disciplined portfolio construction with strong sell discipline and risk monitoring
- Launch date: 31/01/1969
- Sector: UK All Companies
- Lead Portfolio Manager: Chris St John
- Pay dates: 15 May & 15 Nov
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The aim of this Fund is to provide long-term capital growth.
Synthetic Risk & Reward Information scale
The risk category is calculated using historical performance data and may not be a reliable indicator of the Fund's future risk profile. The risk category shown is not guaranteed and may shift over time The lowest category does not mean risk free.
Why is this Fund in this category?
Fund manager comment : 30/09/19
Main changes to the portfolio during September We used share price volatility to add to core holdings and make reductions. We initiated a new holding in QinetiQ. Main factors affecting performance during September Equity returns were positive in September as a small improvement in the global economic indicators helped cyclical stocks rally over the month. Brexit developments remain unpredictable and continue to influence both the levels of sterling and the demand for UK economically exposed stocks. Capital flows and short-term volatility were a feature. From a sector allocation perspective, the underweight position in consumer goods was positive, whereas the underweight position in financials was negative. Positive stock performances of note included the holdings in Serica Energy, Spirent and Miton Group. Advanced Medical Solutions, Xaar (both downgraded earnings) and Fidelity National Information Services (formerly Worldpay) underperformed. Current market influences and outlook Global economic conditions, in which all of our companies must operate, are flashing amber and although the causes may be nuanced and country-specific to some degree, the overall picture is one of economic slowdown. However, central banks have once again responded, increasing monetary stimulus via interest rate cuts or further quantitative easing. Global liquidity remains plentiful, inflation remains subdued, anxiety is widespread and over the past year, global equity markets have risen. What will turn this ‘wall of worry’ into a ‘wall of fear’ is not clear, while such loose monetary policy and plentiful liquidity is maintained. Given the ongoing spread between the earnings yield of UK equities and BBB corporate bond yields, activists, corporate buyers, private equity firms and UK equity investors with a long-term investment horizon will be enjoying the opportunity short-term fears provide. We remain focused on UK and internationally-exposed businesses, where the fundamental profit drivers remain entrenched and equity holders benefit from the capital allocated and risks taken by management. We continue to believe that a rewarding strategy is to actively invest in UK-listed companies that are compounding their earnings and dividends, where corporate governance is world leading, where contract law and title law are dependable, and where company management teams are permanently accessible.
Any performance shown is net of the ongoing charge for the share class selected with income reinvested . Past performance is not a guide to future performance. The value of investments can fall as well as rise and you may get back less than invested. The fund can use derivatives for investment purposes. These instruments may cause periods of high volatility in the price of the shares of the fund.
|Reference index||Start date||End date|
|Performance table||Net performance||Reference index||Start date||End date|
|Risk table||Fund volatility||Benchmark volatility||Tracking error||Information ratio||Sharpe ratio||Beta||Alpha|
|First NAV date||31/01/69|
|Asset class||FRAMLINGTON EQUITIES|
|Legal authority||Financial Conduct Authority|
|Fund Manager||Christopher ST. JOHN|
|Investment team||MT Framlington Global Equity|
|Legal form||Unit Trust|
Subscription and redemption
Your orders to buy, sell or transfer units in the Fund must be received by the Administrator by 12 noon on any working day, to receive that days Fund price. Please note that if your order is placed by an intermediary or Financial Adviser they may require extra processing time.The Net Asset Value of this Fund is calculated on a daily basis. Minimum initial investment: £1,000 Minimum subsequent investment: £100