Quick Stats

Bid Price GBX 62.54 Offer Price GBX 62.92
Mid Price - Day Change GBX 0.00 (0.00%)
Price Date 27 Jun 2017 Crown Rating 1
Shares Class Inc. Yield 1.97 %
Total Expense Ratio 0.00 Fund Size 1,040,700,000.00
Launch Date 05/05/1970 Standard Initial Charge (%) 0.00
Currency GBX ISA Eligible Yes
Annual Management Charge (%) 0.68 Sector IMA UK Equity Income
Min Investment (£) 0.00 Total Expense Ratio (%) 0.00
ISIN GB00BDD2F315 Min TopUp (£) 0.00

Fund Objective

The fund aims to provide capital growth by investing in equities of UK companies that have suffered a severe setback in either share price or profitability. The fund invests at least 80% of its assets in equities of UK companies. The fund applies a disciplined value investment approach, seeking to invest in a select portfolio of companies that the manager believes are significantly undervalued relative to their long-term earnings potential. Recovery investments can be out of favour for many reasons, including weak short-term profitability, macro-economic concerns or an under strength balance sheet. These factors can significantly reduce the attractiveness of companies to short term investors and induce discounts to fair value. The Manager's recovery investment approach seeks to exploit this in a diversified manner. The fund may also invest in collective investment schemes and warrants, and hold cash. The fund may use derivatives with the aim of achieving investment gains, reducing risk or managing the fund more efficiently.

Fund Managers

Kevin Murphy
Kevin Murphy, CFA is a Specialist Value UK Equity Fund Manager with 13 years investment experience. Previously he was a sector analyst for Pan European Construction and Building Materials. His Investment career commenced in 2000 at Schroders. He is a Chartered Financial Analyst and he holds a Degree in Economics from Manchester University.
Nick Kirrage
Nick Kirrage, CFA is a Specialist Value UK Equity Fund Manager with 12 years investment experience. Previously a sector analyst responsible for a number of UK sectors including Transport and Metals & Mining. His investment career commenced in 2001 at Schroders. He is a Chartered Financial Analyst and holds a Degree in Aeronautical Engineering, Bristol University.