F & C Stewardship Growth Class 1 Accumulation Units
Also available as income units
Overview
| Initial charge | 5.00% |
|---|---|
| Initial saving | 5.00% |
| Annual charge | 1.50% |
| Annual saving | 0.188% ² |
| Total Expense Ratio | 1.54% |
| Launch date | 01-06-1984 |
| Launch price | £0.50 |
| Sector | UK All Companies |
| Fund size | £450 million |
| Number of holdings | 86 |
| Fund type | OEIC |
| Type of units | Accumulation |
| Performance charges | No |
Ways to Invest
Find out how to invest in this fundHL Research - Our view on this Fund
F&C has recently announced that Ted Scott, the manager of their UK Growth & Income, Stewardship Income and Stewardship Growth Funds is returning in June after recuperating from a period of ill health.However, he returns in a different capacity to provide economic and market analysis to the UK equity team. This means he will no longer be directly managing the funds.
Hilary Aldridge, who has been the deputy manager alongside Ted Scott since 2005 on the F&C UK Growth & Income Fund will take over as the lead manager. There will be no change to the fund’s investment approach.
In terms of F&C’s ethical funds, the Stewardship Income and Stewardship Growth funds have been taken over by Catherine Stanley, F&C’s Head of UK Smaller Companies. F&C believes she is well suited for the role as both funds have a bias in smaller companies.
The news of his return is clearly welcomed, but it is disappointing that Ted Scott will no longer manage any of the funds. We have pointed out before that Hilary Aldridge has detailed knowledge of the F&C UK Growth & Income Fund having worked alongside Ted Scott for several years, and investors should not be alarmed by these changes. Catherine Stanley, with her experience in smaller companies, should also prove to be a good replacement for the funds.
We believe investors should continue holding these funds and we will monitor how the new managers get on. If our views change we will keep investors fully informed.
Full research
About the Fund Manager
Ted Scott
Located in: London
Ted Scott. Director, Head of Stewardship Funds, F&C Asset Management Ted Scott has over 20 years of investment experience in UK markets and is the manager of the Stewardship Income and Stewardship Growth Funds. He began his career at Schaverien & Co (Private Client Stockbrockers) in 1981. Ted joined the company in 1984, initially taking responsibility for various sectors as a research analyst, before joining the Stewardship team in 1987. He has been the lead fund manager on Stewardship Income since 1998 and on Stewardship Growth since 2000, when he took overall responsibility for the Stewardship funds. Ted graduated from Exeter University with a BA in Economics. He is also a Fellow of the Institute of Society of Investment Professionals.
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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 2009 |
|---|---|
| Payment date ³ | 31 July 2009 |
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Top 10 holdings
| BG Group | 6.59% |
|---|---|
| Vodafone Group | 6.35% |
| HSBC Holdings PLC (UK Reg) | 5.04% |
| Scottish & Southern Energy | 4.87% |
| Cairn Energy | 4.33% |
| Centrica | 3.04% |
| National Grid | 2.73% |
| Pearson | 2.59% |
| Capita Group | 2.46% |
| Tesco | 2.27% |
Top 10 sectors
| Support Services | 11.53% |
|---|---|
| Oil & Gas Producers | 11.41% |
| Gas, Water & Multiutilities | 7.98% |
| Media | 6.43% |
| Mobile Telecommunications | 6.35% |
| Banks | 6.30% |
| General Retailers | 5.36% |
| Electricity | 5.06% |
| Cash and Equiv. | 4.50% |
| Financial Services | 3.84% |
Top 10 countries
| United Kingdom | 94.98% |
|---|---|
| Cash and Equiv. | 4.50% |
| Non-Classified | 0.50% |
| United States | 0.02% |
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 03-07-2009. Data accurate as at 31/05/2009.
