F & C Stewardship Growth Class 1 Accumulation Units

Sell : 460.40p | Buy : 460.40p | down 2.30p
Last valuation as at 21-11-2008

Also available as income units

At a glance

Initial charge 5.00%
Initial saving 4.75%
Annual charge 1.50%
Annual saving 0.188% ²
Total Expense Ratio 1.61%
Launch date 01-06-1984
Launch price £0.50
Sector UK All Companies
Fund size £571 million
Number of holdings 99
Fund type OEIC
Type of units Accumulation

HL Research - Our view on this Fund

Mark Dampier F&C has announced that Ted Scott is taking a leave of absence on health grounds. Mr Scott manages the UK Growth & Income, Stewardship Income and Stewardship Growth funds and is expected to resume these duties in three months.

In Mr Scott’s absence his funds will be jointly managed by Phil Doel and Hilary Aldridge. Ms Aldridge has worked with Ted Scott on the funds for years and shares his investment philosophy so in this regard there will be strong continuity of management. Phil Doel is the manager of the F&C UK Opportunities Fund and is an experienced and respected investor. He has worked closely with Ted Scott as part of F&C’s team and is knowledgeable about the stocks in which Mr Scott’s funds are invested.

After meeting with Phil Doel and Hilary Aldridge we feel confident that existing investors in the funds will not be disadvantaged.

Full research

About the Fund Manager

Photo of Phil Doel

Phil Doel
Located in: London


Phil Doel is a Director, UK Equities in the European Equities Team having joined the Group in 2005. He started his career at Coopers & Lybrand in 1992 where he qualified as a chartered accountant. He then moved to M&G in 1995 where he ran UK and pan-European equity portfolios for both retail and institutional clients in addition to having sector research responsibilities for a wide range of individual market sectors. In 2002 he joined Deutsche Asset Management as a Director, UK Equities where he was responsible for running UK institutional equity mandates and he also ran the highly successful DWS UK Opportunities Fund from its launch in October 2002. Phil graduated from Cambridge University with an MA in Geological Sciences in 1991.

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Income details

Running yield 1.23% (net)
Income paid Bi-annually
Type of payment Dividend

All yields are variable and not guaranteed. The information is correct as at 30-09-2006.

Distribution dates

Ex-dividend date 31 May 2008
Payment date ³ 31 July 2008
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Top 10 holdings

Vodafone Group 6.27%
BG Group 6.15%
National Grid 4.12%
Scottish & Southern Energy 4.04%
Cairn Energy 3.27%
Capita Group 2.74%
Legal & General Group 2.40%
Centrica 2.30%
Barclays 2.23%
Aviva 2.21%

Top 10 sectors

Support Services 11.41%
Oil & Gas Producers 9.42%
Gas, Water & Multiutilities 9.18%
Cash and Equiv. 6.76%
Mobile Telecommunications 6.27%
Banks 6.09%
Media 5.75%
Life Insurance 4.61%
Travel & Leisure 4.32%
Electricity 4.20%

Top 10 countries

United Kingdom 92.46%
Cash and Equiv. 6.76%
Non-Classified 0.42%
Ireland 0.31%
United States 0.05%

² Annual saving is not available in the SIPP.

³ If you elect to receive the income from a Vantage ISA, Fund or 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.

Last valuation as at 21-11-2008. Data accurate as at 30/09/2008.

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