New Star Heart of Africa Accumulation
Sell : 38.33p | Buy : 40.44p | down 0.24p
Last valuation as at 01-12-2008
At a glance
| Initial charge | 5.25% |
|---|---|
| Initial saving | 5.25% |
| Annual charge | 1.75% |
| Annual saving | 0.100% ² |
| Total Expense Ratio | 2.19% |
| Launch date | 12-11-2007 |
| Launch price | £0.50 |
| Sector | Specialist |
| Fund size | £73 million |
| Number of holdings | 68 |
| Fund type | Unit Trust |
| Type of units | Accumulation |
Ways to Invest
Find out how to invest in this fundHL Research - Our view on this Fund
We have decided to remove all New Star funds from the Wealth 150 until the uncertainty surrounding the future of the company is resolved. The affected funds are European Growth, UK Alpha, Global Financials, Heart of Africa and Indian Equity.New Star is currently in advanced talks with its bankers and a statement about the future of the company is expected soon. There are many possible outcomes and we do not feel we can feature New Star funds in the Wealth 150, our list of favourite funds in each sector, until the situation becomes clearer.
We stress that this is not a recommendation for existing investors to sell. Investors should have no concerns over the safety of their investment held within New Star funds. Fund management companies use a trustee to hold the title to the stock in which their funds are invested. This money is ring-fenced and cannot be used to meet any liability of the fund management company; in the unlikely event of the firm going bust none of its creditors would have any right to the stock. This means that the security of New Star’s funds will not be called into question, whatever happens to the company itself.
This is clearly still a developing situation and we shall keep investors updated via our website.
Full research
About the Fund Manager
Jamie Allsopp
Located in: London
Jamie Allsopp joined New Star in 2001 and worked as an analyst before becoming a fund manager in 2003. He has specialised in UK equities across the market capitalisation range. Jamie holds a BA in Combined Studies from Newcastle University.
Income details
| Running yield | N/a |
|---|---|
| Income paid | Annually |
| Type of payment | Dividend |
All yields are variable and not guaranteed. There is currently no yield information available for this fund.
Distribution dates
| Ex-dividend date | 01 October 2008 |
|---|---|
| Payment date ³ | 31 January 2008 |
Top 10 holdings
| UAC of Nigeria NGN5 | 4.53% |
|---|---|
| Press Corporation GDR(V20 Ord) | 4.24% |
| MTN Group | 4.13% |
| SIC Company NPV | 3.40% |
| Zambeef Products ZMK0.0872 | 3.19% |
| Mauritius Commercial Bank MUR10 | 2.78% |
| Ecobank Transnational USD0.125 | 2.36% |
| State Bank of Mauritius MUR1 | 2.35% |
| Nigerian Breweries NGN0.5 | 2.24% |
| Guinness Nigeria NGN0.5 | 1.90% |
Top 10 sectors
| Non-Classified | 69.92% |
|---|---|
| Cash and Equiv. | 16.73% |
| Mobile Telecommunications | 4.13% |
| Mining | 4.10% |
| Oil & Gas Producers | 3.97% |
| Equity Investment Instruments | 0.53% |
| Industrial Metals & Mining | 0.40% |
| Financial Services | 0.24% |
Top 10 countries
| Nigeria | 30.64% |
|---|---|
| Cash and Equiv. | 16.73% |
| Kenya | 13.48% |
| Ghana | 8.40% |
| Mauritius | 6.88% |
| United Kingdom | 6.23% |
| Zambia | 4.92% |
| Malawi | 4.24% |
| South Africa | 4.13% |
| Canada | 2.05% |
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 01-12-2008. Data accurate as at 30/09/2008.
Data provided by
