Sell:515.19p Buy:515.19p Change: 
1.48p (0.29%)
Prices as at 8 March 2024
Sell:515.19p
Buy:515.19p
Change: 1.48p (0.29%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
Prices as at 8 March 2024
Sell:515.19p
Buy:515.19p
Change: 1.48p (0.29%)
Prices as at 8 March 2024
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.
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Charges and Savings
| Initial charges | |
|---|---|
| Initial charge: | 5.25% |
| Initial saving from HL: | 5.25% |
| HL dealing charge: | Free |
| Net initial charge: | 0.00% |
How initial savings affect the buy price
The initial saving applied to a fund depends on how it is priced. Dual priced funds have two different prices (a sell price and a buy price); single priced funds have a single price (at which the fund can be bought and sold).
For dual priced funds the difference between the buy and sell price is made up of the initial charge and other costs e.g. the fund manager's dealing costs. The 'initial saving from HL' will reduce the buying price, but even with a full discount the buying price may still be higher than the selling price.
For single priced funds the price quoted does not include the 'initial charge'. Any 'initial charge' after deduction of the 'initial saving from HL' will be added to the price quoted.
Please note that even where a full saving is offered a dilution levy could be applied on the way in or out of the fund.
For full details please see the HL guide to fund prices, savings and yields. ×
| Annual charges | |
|---|---|
| Performance fee: | No |
| Ongoing charge (OCF/TER): | 0.86% |
| Ongoing saving from HL: | 0.00% |
| Net ongoing charge: | 0.86% |
HMRC believes that from April 2013 rebates of annual charges (such as loyalty bonuses) paid on funds held in nominee accounts, such as our Fund & Share Account, should be subject to income tax. Loyalty bonuses paid on funds in ISAs and SIPPs are unaffected, and they remain tax-free.
We believe all loyalty bonuses are tax-free and we are challenging HMRC's interpretation. However, while we make this challenge we are paying loyalty bonuses within the Vantage Fund & Share Account net of an amount equivalent to the basic rate tax. If we are successful in our challenge we will return this money to clients. If we are unsuccessful we will use the money to pay over any amounts due to HMRC.
If loyalty bonuses are taxable then the value of our ongoing saving to you could be reduced, depending on the rate of tax you pay. The below table gives an indication of how this may affect you.
In this case, the ongoing saving is 0.00%, of which 0.00% is paid by loyalty bonus. The tax that could be payable on this loyalty bonus, and therefore the value of this saving to you, is shown below.
| Non-taxpayer | Basic rate taxpayer | Higher rate taxpayer | Additional rate taxpayer | |
|---|---|---|---|---|
| Ongoing saving from HL: | 0.00% | 0.00% | 0.00% | 0.00% |
| Loyalty bonus: | 0.00% | 0.00% | 0.00% | 0.00% |
| Tax on loyalty bonus: | 0.00% | 0.00% | 0.00% | 0.00% |
| Value of ongoing saving to you: | 0.00% | 0.00% | 0.00% | 0.00% |
Tax rules can change and benefits depend on individual circ*mstances. Please remember loyalty bonuses received on funds held in the Vantage ISA or Vantage SIPP are exempt from tax.
Also, loyalty bonuses received by overseas investors, companies and charities are not required to be paid with the deduction of tax. Therefore, if you are an overseas investor, or you represent a company or charity please let us know if you would like your loyalty bonuses paid without the deduction of an amount equivalent to the basic rate tax.
In some cases the ongoing savings are provided by our loyalty bonus. Loyalty bonuses are tax-free in an ISA or SIPP. However, they may be subject to tax in a Fund & Share Account which would, in effect, reduce their value and increase the net ongoing charge.
HL Guide to fund prices, savings and yields
Other Information
| Unit type: | Unbundled |
|---|---|
| Manager: | Multiple Multiple |
| Fund launch date: | 3 February 2009 |
| Sector: | UK Equity Income |
| Fund size: | £24 million |
| Number of holdings: | 56 |
| Fund type: | OEIC |
| Accumulation/income: | Income |
| Dealing frequency: | Daily |
| Valuation point: | 12:00 |
| Trustee: | The Bank of New York Mellon (International) Limited |
| Minimum investment: | £100.00 |
| Charges deducted from: | n/a |
| Available in a regular savings plan: | Yes |
| Minimum regular savings value: | £25.00 |
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Performance
| 08/03/19 to 08/03/20 | 08/03/20 to 08/03/21 | 08/03/21 to 08/03/22 | 08/03/22 to 08/03/23 | 08/03/23 to 08/03/24 | |
|---|---|---|---|---|---|
| Annual return | -3.05% | 13.25% | 2.78% | 10.80% | 1.07% |
Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.
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Our view on this fund
The Wealth Shortlist features funds our analysts believe have the potential to outperform their peers over the long term. If a fund is not on the Shortlist, this is not a recommendation to sell; however, if you are thinking of adding to your investments, we believe the Wealth Shortlist is a good place to start. View funds on the Wealth Shortlist »
Fund Objective
The investment objective of the Fund is to (a) generate an average annual income above the dividend yield of the Benchmark over a rolling 3 year period; and (b) achieve a total return (income and growth in the value of your investments (known as capital growth)) above the total return of the Benchmark over a rolling 5 year period, after the deduction of all fees.The Benchmark for the Fund is the MSCI United Kingdom Investable Market Index (IMI) Net Total Return.
Income Details
| Historic yield : | 3.87% |
|---|---|
| Income paid: | Bi-annually |
| Type of payment: | Dividend |
| Ex-dividend date: | 1 April 2024 1 October 2024 |
| Payment date: | 31 May 20244 30 November 20244 |
This data is provided by Broadridge. HL accepts no responsibility for its accuracy and you should independently check data before making any investment decision. All yields are variable and not guaranteed. Information correct as at 31 December 2022.
- HoldingsTop 10 holdings
- SectorsTop 10 sectors
- CountriesTop 10 countries
| Security | Weight |
|---|---|
| SHELL | 5.01% |
| GSK | 4.15% |
| ASTRAZENECA | 4.04% |
| LLOYDS BANKING GROUP | 3.05% |
| RECKITT BENCKISER GROUP | 3.01% |
| SABRE INSURANCE GROUP | 2.99% |
| BAE SYSTEMS | 2.78% |
| HSBC HOLDINGS | 2.69% |
| PRUDENTIAL | 2.50% |
| SERCO GROUP | 2.36% |
| Sector | Weight |
|---|---|
| Pharmaceuticals & Biotechnology | 11.31% |
| Investment Banking & Brokerage Services | 9.34% |
| Banks | 7.06% |
| Non-Renewable Energy | 6.97% |
| Personal Care, Drug & Grocery Stores | 6.41% |
| Non-life Insurance | 6.33% |
| Industrial Support Services | 6.32% |
| Travel & Leisure | 5.85% |
| Retailers | 4.94% |
| Aerospace & Defence | 4.53% |
| Country | Weight |
|---|---|
| United Kingdom | 90.82% |
| Direct Property and REITs | 1.95% |
| Cash and Equiv. | 1.72% |
| France | 1.58% |
| Canada | 1.55% |
| Switzerland | 1.54% |
| Non-Classified | 0.83% |
Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used.Prices provided by Morningstar, correct as at 8 March 2024. Data provided by Broadridge, correct as at 31 December 2023.
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Key facts
| Anna Pugh | |
| Manager start date | 01/04/2022 |
| Manager located in | London |
Biography
Anna Pugh graduated from the University of Bath with a First-Class Honours degree in Economics in 2012. Prior to joining R&M, Anna worked as a product specialist at Neptune Investment Management undertaking analysis on their equity fund range. Anna joined River and Mercantile in 2018 as an Equity Analyst to work closely on the UK portfolios. In 2021, she was promoted to alternate Portfolio Manager on the UK Income fund. Anna is a CFA charter holder.
Key facts
| Matt Hudson | |
| Manager start date | 01/04/2022 |
| Manager located in | London |
Biography
Matt has over 20 years' experience of managing UK equities, with a deep specialist knowledge of equity income strategies. After qualifying as a chartered accountant with Coopers and Lybrand, Matt started his investment career in 2001 as an assistant fund manager at AIB Govett Fund Management. In 2001, he joined Cazenove Fund Management to launch a new fund, the Equity Income Trust for Charities and to develop his investment approach for equity income. In 2005 he launched the Cazenove UK Equity Income Fund which became one of the best performing funds in the income sector, eventually growing to c1bn in assets under management and which was twice shortlisted for the IA best UK equity income fund of the year. For over a decade Matt was a key member of the highly successful and award winning Pan European Equities team at Cazenove Capital, combining his portfolio management responsibilities with his analytical work on a range of UK sectors including Banking, Utilities, Chemicals, Mining and the Building & Construction sectors. In 2013, Matt moved, along with the rest of the business cycle team, to Schroders following the take-over of Cazenove by the latter. He continued to focus on his key income fund responsibilities and was later appointed as the Head of the Schroders Pan European Business Cycle Team, managing a team of senior Portfolio Managers responsible for client assets of over £5bn in long and long/short strategies. After nearly two decades managing income funds using a business cycle approach. Matt left Schroders in February 2020.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
4 If you elect to receive the income from a Vantage ISA or Vantage Fund & Share Account, we will collect any dividends for you and then pay them directly into your bank account within the first 10 working days of the following month.
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