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AXA Framlington UK Select Opportunities Fund

ISIN GB0003501581

Last NAV 28.2400 GBP as of 08/04/20

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:

  1. Consistent investment performance over various market cycles
  2. An unconstrained and fundamental bottom-up stock-picking approach
  3. A multicap portfoliofocusing on "GARP" (Growth at a Reasonable Price) stocks
  4. Mid and small cap companies are a rich source of potential added value
  5. Disciplined portfolio construction with strong sell discipline and risk monitoring

Key figures

  • 70-90

    Stocks

  • Bottom-up

    Stock picking style

  • Multi-capitalisation

    Approach

Fund facts:

  • Launch date: 31/01/1969
  • Sector: UK All Companies
  • Lead Portfolio Manager: Chris St John
  • Pay dates: 15 May & 15 Nov
Ratings as at 31 August 2019

© 2019 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Overview

Investment objectives

The aim of this Fund is to provide long-term capital growth.

Risk

Synthetic Risk & Reward Information scale

1 2 3 4 SRRI Value 5 6 7

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?

The capital of the Fund is not guaranteed. The Fund is invested in financial markets and uses techniques and instruments which are subject to some levels of variation, which may result in gains or losses.

Additional risks

Liquidity Risk: some investments may trade infrequently and in small volumes. As a result the Fund manager may not be able to sell at a preferred time or volume or at a price close to the last quoted valuation. The Fund manager may be forced to sell a number of such investments as a result of a large redemption of units in the Fund. Depending on market conditions, this could lead to a significant drop in the Fund's value and in extreme circumstances lead the Fund to be unable to meet its redemptions. Further explanation of the risks associated with an investment in this Fund can be found in the prospectus.

Investment horizon

This Fund may not be suitable for investors who plan to withdraw their contribution within five years.

Main documents

KIID 17/02/2020

Fund manager comment : 29/02/20

Main changes to the portfolio during February We used share price volatility to add to core holdings and make reductions. We took new holdings in Grainger and Sage and sold our holding inEddie Stobart Logistics. Main factors affecting performance during February The final quarter of 2019 and the start of 2020 suggested that, while backward-looking economic data looked weak in the UK, forward-looking economic indicators and commentary from company management teams suggested that business and consumer confidence was rising. In addition, European and US forward-looking economic indicators warranted optimism. Over the month, equity markets have been materially impacted by the unquantifiable human and economic cost of the spread of coronavirus. Over the month, the Fund outperformed its benchmark, driven principally by sector allocation. Positive stock performances of note included Rentokil, Fidelity National Information Services and Weir. Detractors included Clinigen and Trifast. Current market influences and outlook The coronavirus outbreak is dominating both general news-flow and investor concerns. The human cost remains minimal compared to seasonal flu; however, the virus continues to proliferate and preventative behaviours are widespread. The ingredients for economic disruption are in place and economic indicators out of China, where factories have experienced extended closure after the Chinese New Year, have been exceptionally weak. The outcome in terms of human and economic cost is unquantifiable and therefore making predictions with certainty is not possible. However, we do know that in the UK equities are priced significantly below the level seen at the end of 2019, Chinese factories are re-opening and strong balance sheets are increasing in terms of optionality. We await further development. 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.

Performance

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.

Benchmark

Reference index Start date End date
- - -

Performance table

End date

Performance table Net performance Reference index Start date End date
- - - - -
1M - - - -
QTD - - - -
3M - - - -
6M - - - -
YTD - - - -
1Y - - - -
2Y - - - -
3Y - - - -
4Y - - - -
5Y - - - -
8Y - - - -
10Y - - - -
Since launch - - - -
Y-1 - - - -
Y-2 - - - -
Y-3 - - - -
Y-4 - - - -
Y-5 - - - -

Risk table

End date

Risk table Fund volatility Benchmark volatility Tracking error Information ratio Sharpe ratio Beta Alpha
1M - - - - - - -
QTD - - - - - - -
3M - - - - - - -
6M - - - - - - -
YTD - - - - - - -
1Y - - - - - - -
3Y - - - - - - -
5Y - - - - - - -
8Y - - - - - - -
10Y - - - - - - -
Since launch - - - - - - -

Price table

Start date

End date

Price Date Portfolio AUM
- - -

NAV

First NAV date 31/01/69

Administration

Distribution country

Distribution countries
Switzerland
United Kingdom

Fees

Ongoing Charges 1.02%

Fund facts

Currency GBP
Start date 31/01/69
Asset class FRAMLINGTON EQUITIES
RI fund False
Legal authority THE FINANCIAL CONDUCT AUTHORITY

Portfolio management

Fund Manager Christopher ST. JOHN
Co-manager Dan HARLOW
Investment team MT Framlington Global Equity

Structure

Investment area UK
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: o1,000 Minimum subsequent investment: o100

Literature