Fact sheet: Schroder Global Equity Income

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.
GLOBAL EQUITY INCOME
Sector
UT Global Equity Income
Fund type
Unit Trust
Primary aim
GROWTH & INCOME
Why Money Observer Rates Schroder Global Equity Income

Rated Fund 2015-2017. Taking 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. He is a member of the company's value investment team, which adopts a contrarian approach to investment. 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 in companies, aiming to invest in stocks that not only pay a high income at the time of purchase, but which 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 which 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 2016, the fund was nearly 50 per cent invested in the US. The next highest exposures were to the UK and Europe, but the fund was also over 8 per cent invested in emerging markets. Overweight sectors were financials, consumer discretionary and information technology.

3 Year Performance
Fund Performance39.5%
Average of Rated Funds Group40.9%
Sector Performance30.7%
Fund information
Fund name
Schroder Global Equity Income Z Acc
Fund manager company
Schroder UT Managers
Fund type
Unit Trust
Fund managers
  • Ian Kellysince 29/11/2013
Accolades
Fund objective
The Fund aims to provide income and capital growth by investing in equity and equity related securities of companies worldwide.
Benchmark
  • MSCI World
Investment style
Growth
Investment method
Shares
Quick stats
1 Year return
5.8%
1 Year rank in sector
12/48
Sector
UT Global Equity Income
Yield
3.4%
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.
0.94%
Fund size
£203m (£180m 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.
102
Top in this sector
Fund name1 Year
Equitile Resl Fdr26.1%
Aptus Global Financials24.2%
Sarasin Global Dividend (£Hg)10.3%
Sarasin Gbl Hig Div(StgHg)8.7%
Invesco Perp Global Eq Inc7.7%
...more in UT Global Equity Income

Performance snapshot

Holdings snapshot

  • USA31.7%
    UK20.7%
    France8.6%
    Money Market5.8%
    Korea4.7%
  • Financials26%
    Consumer Discretionary20%
    Information Technology13.4%
    Energy12.7%
    Utilities6.2%
  • US Equities31.7%
    UK Equities20.7%
    French Equities8.6%
    Money Market5.8%
    South Korean Equities4.7%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-4.8%-0.3%3.1%5.8%39.5%80.3%
Sector-5.2%-2.1%-1.2%3.9%30.7%60.7%
Rank within sector19 / 5310 / 534 / 5112 / 486 / 374 / 29
Quartile2nd1st1st1st1st1st
Calendar performance
 YTD - 20182017201620152014
Fund-2.8%11.1%35.5%-0.5%14.6%
Sector-3.7%11%23.1%2.7%6.8%
Rank within sector15 / 5323 / 481 / 4231 / 372 / 35
Quartile2nd2nd1st4th1st
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.
1.7
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.
1.1
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.
0.87
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
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.
4.39
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.
0.59
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.
0.84
Price movement
52 week high122.2
52 week low103.9
Current bid price-
Current offer price-
Current mid price116
Region
1USA31.71%
2UK20.72%
3France8.6%
4Money Market5.75%
5Korea4.74%
6Italy4.36%
7Belgium3.83%
8Russia3.39%
9Japan3.27%
Industry sector
1Financials25.99%
2Consumer Discretionary20.02%
3Information Technology13.42%
4Energy12.66%
5Utilities6.24%
6Money Market5.75%
7Industrials4.41%
8Consumer Staples3.93%
9Materials3.9%
Asset type
1US Equities31.71%
2UK Equities20.72%
3French Equities8.6%
4Money Market5.75%
5South Korean Equities4.74%
6Italian Equities4.36%
7Belgian Equities3.83%
8Russian Equities3.39%
9Japanese Equities3.27%
Individual holdings
1CISCO SYSTEMS INC4.72%
2ENI4.36%
3HSBC HLDGS3.95%
4TESCO3.93%
5AGEAS3.83%
6AMERICAN INTERNATIONAL GROUP INC3.71%
7BNP PARIBAS3.62%
8PEARSON3.46%
9CENTRICA PLC3.15%
Management
Fund manager group
Schroders
Fund manager company
Schroder UT Managers
Fund type
Unit Trust
Fund objective
The Fund aims to provide income and capital growth by investing in equity and equity related securities of companies worldwide.
Benchmark
  • MSCI World
Investment style
Growth
Investment method
Shares
Fund managers
NameSinceBiography
Ian Kelly29/11/2013Ian joined Schroders in 2007 as an equity analyst and now manages the Schroder ISF European Equity Yield, Schroder Global Equity Income Fund and Schroder ISF Global Equity Yield. Ian completed a PhD in Biophysics at Newcastle University and a Masters degree in Investment Management at Cass Business School, London. He is also a Chartered Financial Analyst (CFA) charter holder.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Schroder Global Equity Income A Acc
Initial charge-
Annual charge1.5%
Min single investment£1,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)1.69%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price102.1
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeY788
Schroder Global Equity Income A Inc
Initial charge-
Annual charge1.5%
Min single investment£1,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)1.69%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price68.99
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeY787
Schroder Global Equity Income L Acc
Initial charge-
Annual charge0.68%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.87%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price88.42
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJOVF
Schroder Global Equity Income L Inc
Initial charge-
Annual charge0.68%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.87%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price77.53
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJOVG
Schroder Global Equity Income Z Acc
Initial charge-
Annual charge0.75%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.94%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price116
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0HCZ
Schroder Global Equity Income Z Inc
Initial charge-
Annual charge0.75%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.94%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price95.37
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code0HD0
Data provided by

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