Fact sheet: Axa Framlington UK Mid Cap

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
UK GROWTH
Sector
UT UK All Companies
Fund type
Unit Trust
Primary aim
GROWTH
Why Money Observer Rates Axa Framlington UK Mid Cap

Rated Fund 2016-2017. Looking for opportunities on three levels

This fund was highly commended in Money Observer's fund awards in 2015 and 2016. It taps into the potential for medium-sized companies to outperform their larger counterparts over the long term. A minimum of 70 per cent of the fund is invested in FTSE 250 constituents, but it can have up to 15 per cent in members of the FTSE 100 index.

This gives manager Chris St John flexibility to run his winners should companies progress up the size scale. He typically holds between 60 and 80 stocks, with a maximum portfolio weighting of 4 per cent to minimise risk.

When searching for investments St John looks for opportunities on three levels. First, bearing in mind economic trends, he looks for companies that operate in areas where they are likely to benefit from, rather than be hindered, by such developments.

This usually means focusing on themes that are secular in nature and likely to evolve over a prolonged time period to match his three-to-five year investment horizon.

Second, he researches individual companies, meeting managers and finding out about such things as industry and profit drivers. Third, he considers valuations, calculating the potential returns for the level of risk taken.

He says the advantage of his investment universe is that there are always new companies coming into the index, which gives him plenty of scope for stock picking. As a long-term investor it is also possible to benefit from the growth of these businesses.

3 Year Performance
Fund Performance43.6%
Average of Rated Funds Group47.3%
Sector Performance23.6%
Fund information
Fund name
AXA Framlington UK Mid Cap Z Acc
Fund manager company
AXA IM UK
Fund type
Unit Trust
Fund managers
  • Chris St Johnsince 04/03/2011
  • Nigel Thomassince 04/03/2011
Accolades
Highly Commended - UK Growth - Smaller Funds
Fund objective
The aim of this Fund is to provide long-term capital growth.
Benchmark
  • FTSE 250 Ex Inv Co
Investment style
Growth
Investment method
Shares
Quick stats
1 Year return
13.8%
1 Year rank in sector
91/272
Sector
UT UK All Companies
Yield
1.3%
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.
0.85%
Fund size
£199m (£147m 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.
89
Top in this sector
Fund name1 Year
MI Chelverton UK Equ Grth32.7%
Unicorn UK Growth32.3%
Old Mutual Equity 130.9%
Old Mutual UK Mid Cap30.4%
Blackrock Inst Eq UK Sm Cos29.2%
...more in UT UK All Companies

Performance snapshot

Holdings snapshot

  • UK96.3%
    Money Market3.7%
  • Industrials41.2%
    Consumer Services21%
    Financials15%
    Health Care7.9%
    Consumer Goods4.6%
  • UK Equities96.3%
    Money Market3.7%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.5%1.4%5.1%13.8%43.6%113.1%
Sector-0.6%-0.8%2.3%13%23.6%60.9%
Rank within sector33 / 28038 / 27947 / 27891 / 27217 / 25512 / 243
Quartile1st1st1st2nd1st1st
Calendar performance
 YTD - 20172016201520142013
Fund11.7%2.9%19.9%4.2%42%
Sector7.6%11.2%3.7%0.6%25.7%
Rank within sector43 / 276241 / 26610 / 25943 / 25311 / 246
Quartile1st4th1st1st1st
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.
4.02
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.
1.03
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.
0.75
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%.
11.6
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.
6.85
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.
0.58
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.
0.65
Price movement
52 week high250.5
52 week low207.9
Current bid price-
Current offer price-
Current mid price247.2
Region
1UK96.28%
2Money Market3.72%
Industry sector
1Industrials41.18%
2Consumer Services21%
3Financials14.95%
4Health Care7.91%
5Consumer Goods4.64%
6Money Market3.72%
7Basic Materials3.36%
8Technology2.06%
9Oil & Gas1.18%
Asset type
1UK Equities96.28%
2Money Market3.72%
Individual holdings
1RPC GROUP2.9%
2PAYSAFE GROUP PLC2.8%
3MELROSE INDUSTRIES PLC2.4%
4TP ICAP PLC2.2%
5ULTRA ELECTRONICS HLDGS2.2%
6CLINIGEN GROUP PLC2.1%
7BODYCOTE PLC2%
8BTG PLC1.9%
9DECHRA PHARMACEUTICALS1.9%
Management
Fund manager group
AXA Investment Managers
Fund manager company
AXA IM UK
Fund type
Unit Trust
Fund objective
The aim of this Fund is to provide long-term capital growth.
Benchmark
  • FTSE 250 Ex Inv Co
Investment style
Growth
Investment method
Shares
Fund managers
NameSinceBiography
Chris St John04/03/2011Chris joined AXA Investment Managers in 2005 as a portfolio manager on the UK small cap desk, responsible for the management of a number of pension funds focused on UK small and mid cap companies. In February 2008 he was appointed Portfolio Manager of the UKSmaller Companies Fund. Previous to his appointment at AXA Investment Managers, Chris worked at ISIS (which later became Foreign & Colonial) where he progressed from equity analyst to lead fund manager on four institutional FTSE Small Cap funds. In 2003 he was promoted to lead fund manager of the UK Small Cap retail funds. Chris began his career at PricewaterhouseCoopers in 1995 as part of the London Middle Market Business Advisory Service. After a short period in the Corporate and International Tax department, he moved to Corporate Finance. Chris graduated from Durham University in 1995 with an honours degree in Philosophy and Psychology. He qualified as a Chartered Accountant in 1998.
Nigel Thomas04/03/2011Nigel joined AXA Investment Managers in 2002. He is the lead manager for the AXA Framlington UK Select Opportunities Fund. He trained as an accountant with Robson Rhodes, leaving to join Carrington Pembroke (subsequently ABN AMRO and now Artemis Unit Trust Managers) as a Private Client Portfolio Manager. He subsequently joined Hill Samuel to run the Hill Samuel Smaller Companies Unit Trust for two years before rejoining Carrington Pembroke in 1986, launching and managing their UK Growth Fund. Nigel graduated from University College London with a degree in Economics and Geography in 1976.
Compliance
IA Recognised, UCITS IV Compliant, UCITS V Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
AXA Framlington UK Mid Cap R Acc
Initial charge-
Annual charge1.5%
Min single investment£1,000
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.6%
Total expense ratio (TER)1.69%
Bid price-
Offer price-
Mid price235.5
CurrencyGBX
Price updated18/09/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code03TT
AXA Framlington UK Mid Cap R Inc
Initial charge-
Annual charge1.5%
Min single investment£1,000
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.6%
Total expense ratio (TER)1.69%
Bid price-
Offer price-
Mid price226.1
CurrencyGBX
Price updated18/09/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code03TU
AXA Framlington UK Mid Cap S Acc
Initial charge-
Annual charge0.35%
Min single investment£1,000,000
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)0.45%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price159.5
CurrencyGBX
Price updated18/09/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJT5C
AXA Framlington UK Mid Cap S Inc
Initial charge-
Annual charge0.35%
Min single investment£1,000,000
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)0.45%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price149.9
CurrencyGBX
Price updated18/09/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeJT5B
AXA Framlington UK Mid Cap Z Acc
Initial charge-
Annual charge0.75%
Min single investment£100,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)0.85%
Total expense ratio (TER)0.94%
Bid price-
Offer price-
Mid price247.2
CurrencyGBX
Price updated18/09/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNOM7
AXA Framlington UK Mid Cap Z Inc
Initial charge-
Annual charge0.75%
Min single investment£100,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)0.85%
Total expense ratio (TER)0.94%
Bid price-
Offer price-
Mid price226.3
CurrencyGBX
Price updated18/09/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNOM8
Data provided by

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