Fact sheet: Monks IT

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.
IT Global
Fund type
Investment Trust
Primary aim
Why Money Observer Rates Monks IT

New for 2017. Ploughing a different furrow brings success

Under its new manager, Charles Plowden, who took over the running of the trust in March 2015, the performance of Monks has shot forward. Plowden abandoned the cautious approach that had previously been adopted and started increasing the trust's borrowing in order to take advantage of opportunities.

Its gearing currently stands at 7 per cent. Plowden believes a company's share price ultimately follows its earnings. He therefore looks to invest in companies that offer the prospect of sustainable above-average growth. He also takes a long-term approach, expecting to hold stocks for around five years on average.

Plowden recognises that companies grow at different rates, some more cyclically than others, so he is also prepared to invest in companies with latent growth opportunities. He think the trust's long-term investment perspective allows it to capture the more volatile growth from companies in a range of industries that other growth investors may overlook.

He places all the stocks in the trust in one of four 'growth categories' - stalwart, rapid, cyclical and latent - in order to create a differentiated and diversified portfolio.

While Plowden's focus is on picking individual stocks, there are three broad areas of exposure about which he is currently enthusiastic. The first is increasing Asian consumption from a growing middle class, providing opportunities for companies in China and beyond to grow strongly.

Second is the continued underlying growth of the US economy. The third area of exposure is related to companies that use technology and innovation to disrupt existing traditional business models.

3 Year Performance
Fund Performance95.7%
Average of Rated Funds Group55.5%
Sector Performance53.6%
Fund information
Fund name
Monks Investment Trust PLC
Fund manager company
Baillie Gifford & Co Ltd
Fund type
Investment Trust
Fund managers
  • Malcolm MacCollsince 27/03/2015
  • Charles Plowdensince 27/03/2015
  • Spencer Adairsince 27/03/2015
Fund objective
The Trust aims for long-term capital growth which takes priority over income. This is pursued through applying a patient approach to investment, principally from a differentiated, actively managed global equity portfolio containing a diversified range of growth stocks.
  • FTSE World
Investment style
No data available.
Investment method
No data available.
Quick stats
1 Year return
1 Year rank in sector
IT Global
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.
Fund size
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.
Mid price
?Net asset value. The NAV per share may be higher or lower than the share price, which in turn is trading at either a discount or a premium to NAV.
?When the market price of an investment trust’s shares is less than the net asset value (NAV) per share then it is trading at a discount to NAV. A trust’s shares are on a premium when they trade at a higher price than the NAV.
?Investment trusts have the ability to borrow money which they invest with the aim of generating a higher return than the cost of the loan. An ungeared trust has a figure of 100. A figure of 110 would represent a trust with 10% gearing.
Top in this sector
Fund name1 Year
Independent Investment Trust69.2%
Edinburgh Ww IT PLC43.1%
Sct Mtg IT PLC31.4%
Monks IT PLC28.4%
Lazard World Trust22.4%
...more in IT Global

Performance snapshot

Holdings snapshot

  • North America44%
    Global Emerging Markets21.7%
  • Financials28.6%
    Consumer Services20.5%
    Health Care9.6%
  • North American Equities44%
    Global Emerging Market Equities21.7%
    European Equities17.3%
    Japanese Equities8.3%
    UK Equities5.5%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Rank within sector12 / 228 / 223 / 224 / 223 / 225 / 22
Calendar performance
 YTD - 20182017201620152014
Rank within sector3 / 224 / 223 / 2211 / 2219 / 22
Risk statistics
?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.
?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.
?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.
?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%.
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.
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.
?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.
Price movement
52 week high825
52 week low607
Current bid price783
Current offer price784
Current mid price782
1North America44%
2Global Emerging Markets21.7%
7Money Market0.2%
Industry sector
2Consumer Services20.5%
5Health Care9.6%
6Consumer Goods7.3%
7Oil & Gas2%
8Basic Materials0.6%
9Money Market0.2%
Asset type
1North American Equities44%
2Global Emerging Market Equities21.7%
3European Equities17.3%
4Japanese Equities8.3%
5UK Equities5.5%
6Asia Pacific Equities3%
7Money Market0.2%
Individual holdings
Fund manager group
Baillie Gifford
Fund manager company
Baillie Gifford & Co Ltd
Fund type
Investment Trust
Fund objective
The Trust aims for long-term capital growth which takes priority over income. This is pursued through applying a patient approach to investment, principally from a differentiated, actively managed global equity portfolio containing a diversified range of growth stocks.
  • FTSE World
Investment style
No data available.
Investment method
No data available.
Fund managers
Malcolm MacColl27/03/2015Malcolm graduated MA in Economics and History in 1998 and MLitt in Economics, Politics and Management in 1999 both from the University of St Andrews. He joined Baillie Gifford in 1999 and has spent time working in the UK Small Cap Team and North American Team. He has been a Global Alpha Investment Manager since the product’s inception and became a Partner in 2011. Malcolm is a member of the UK Society of Investment Professionals (UKSIP).
Charles Plowden27/03/2015Charles graduated BA in Modern History from Oxford University in 1983 and joined Baillie Gifford the same year, becoming a Partner in 1988. He was an Investment Manager in the UK Equity team for over 20 years notably developing Baillie Gifford’s specialist UK capabilities, and was latterly head of the team. Since its inception in 2005, Charles has headed up the Global Alpha strategy which is currently his sole portfolio management role. He became Joint Senior Partner with overall responsibility for the investment departments in 2006. He is also Chair of the Strategic Leadership Group.
Spencer Adair27/03/2015Spencer graduated BSc in Medicine from the University of St Andrews in 1997, followed by two years of clinical training in Edinburgh. He joined Baillie Gifford in 2000 and spent time working in the Fixed Income, Japanese, European and UK teams, before becoming an Investment Manager for the Global Alpha portfolio. He became a Partner in 2013.
AIC Member, Transparent for Swiss Tax
No data available.
Fund for sale in
United Kingdom
Monks Investment Trust PLC
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price767.94
Price updated16/02/2018
Institutional or retail classRetail
Citi codeNJJA
Data provided by

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