JPMorgan Natural Resources Income Units 
Also available as accumulation units
Overview
| Initial charge | 4.25% |
|---|---|
| Initial saving | 4.25% |
| Annual charge | 1.50% |
| Annual saving | 0.250% ² |
| Performance charges | No |
| Total Expense Ratio | 1.68% |
| Launch date | 01-06-1965 |
| Launch price | £0.50 |
| Sector | Specialist |
| Fund size | £1,728 million |
| Number of holdings | 279 |
| Fund type | ICVC |
| Type of units | Income |
Please read the Simplified Prospectus in addition to the information above.
Ways to Invest
Find out how to invest in this fundHL Research - Our view on this Fund
Commodities had a strong run in 2009, but Ian Henderson is adopting a balanced approach as we move into the new decade. On the one hand, the fund is focused on base metals (the price of which is more sensitive to economic sentiment), and on the other he maintains exposure to gold, which offers some defensive characteristics during times of uncertainty. We expect this positioning to be effective whilst the economic backdrop remains unclear.
Full research
About the Fund Manager
Ian Henderson
Located in: London
Ian Henderson is a senior portfolio manager in the Global Portfolios Group, based in London, responsible for specialist mandates. An employee since 1991, he was previously responsible for international portfolios and investments in resource companies. Prior to joining the company Ian spent nine years as director and chief investment officer at Wardley Investment Services International Limited. Prior to this Ian served five years as international portfolio manager involved in business development in London and New York for Morgan Grenfell & Co. Ian began his career spending five years as an accountant with Peat Marwick Mitchell & Co. Ian holds an MA, LLB Scots Law and Politics from Edinburgh University. ACA and FCA.
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 | 31 January 2010 |
|---|---|
| Payment date ³ | 30 April 2010 |
Top 10 holdings
| Rio Tinto | 2.37% |
|---|---|
| Rio Tinto | 2.14% |
| Freeport-McMoRan Copper & Gold | 1.96% |
| First Quantum Minerals | 1.81% |
| Xstrata | 1.76% |
| Petropavlovsk | 1.68% |
| Pacific Rubiales Energy | 1.63% |
| Anglo American | 1.50% |
| Arcelor Mittal Cl A ADS | 1.35% |
| CNOOC | 1.30% |
Top 10 sectors
| Mining | 58.54% |
|---|---|
| Oil & Gas Producers | 17.91% |
| Industrial Metals & Mining | 15.12% |
| Non-Classified | 2.33% |
| Chemicals | 2.14% |
| Cash and Equiv. | 1.63% |
| Food Producers | 1.44% |
| Electronic & Electrical Equipment | 0.64% |
| Financial Services | 0.14% |
| Bonds | 0.11% |
Top 10 countries
| Canada | 34.78% |
|---|---|
| United Kingdom | 19.30% |
| Australia | 17.64% |
| United States | 9.32% |
| China | 2.80% |
| South Africa | 2.18% |
| Hong Kong | 2.07% |
| Luxembourg | 2.03% |
| Cash and Equiv. | 1.63% |
| Russian Federation | 1.30% |
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 11-03-2010. Data accurate as at 31/01/2010.
