Rathbones Asset Management Limited Income I Class Inc

Essentials Portfolio Analysis Background Data Performance View PDF Factsheet
Portfolio data accurate as at:

Performance

Discrete performance - to last month end

31/03/19
to
31/03/20		 31/03/20
to
31/03/21		 31/03/21
to
31/03/22		 31/03/22
to
31/03/23		 31/03/23
to
31/03/24
Fund -19.7% 30.1% 11.6% 2.6% 6.1%
Sector -20.6% 32.6% 10.8% 0.2% 7.6%
Rank 32/74 48/74 27/75 27/77 57/77
Quartile 2 3 2 2 3

Annualised performance

Annualised
3 Years to
31/03/24		 5 Years to
31/03/24		 10 Years to
31/03/24
Fund 6.7% 4.9% 5.5%
Sector 6.1% 4.7% 4.9%
Rank 36/75 36/74 23/63
Quartile 2 2 2

Top 10 Holdings

Stock % Weight
ASTRAZENECA 4.12
SHELL 4.06
SSE 4.03
NATIONAL GRID 3.82
BP 3.75
BAE SYSTEMS 3.68
RIO TINTO 3.46
LLOYDS BANKING GROUP 3.44
LEGAL & GENERAL GROUP 3.26
RELX 3.26
Total 36.88

Fund Aims

We aim to deliver an annual income that is in line with or better than that of the FTSE All-Share Index over any rolling three-year period. We also aim to increase the income we pay you in line with the Consumer Price Index (CPI) measure of inflation over any rolling five-year period. We aim to generate a greater total return than the FTSE All-Share Index, after fees, over any five-year period. Total return means the return we receive from the value of our investments increasing (capital growth) plus the income we receive from our investments (dividend payments). We use the FTSE All-Share Index as a target for our fund’s return and the income we pay because we want to offer you a better income and higher returns than the UK stock market. Increasing your income payments at least in line with the CPI measure of inflation protects your future spending power. We also compare our fund against the Investment Association (IA) UK Equity Income sector because the funds in it are similar to ours.

Fund Manager

Carl Stick manager for 24 years and 3 months

Photo of Carl Stick Carl plays a key role in the development of Rathbones’ investment process and business strategy. He is also the manager of the Rathbone Income Fund, which he has been managing since January 2000. After Rathbones acquired Neilson Cobbold in 1996, Carl transferred to London in August 1998, where he became an assistant fund manager for the unit trust business, working alongside Hugh Priestley. Carl graduated from the University of Southampton in 1991 with a BA Honours degree in English Literature. He is also I.I.M.R.-qualified and a Fellow of the Securities Institute.

Alan Dobbie manager for 5 years and 6 months

Photo of Alan Dobbie Alan Dobbie joined Rathbones in October 2005. He became co-manager of the Rathbone Income Fund in October 2018. Alan has previously managed and co-managed a number of UK, European and global equity funds for Rathbones. He graduated from the University of Strathclyde with an MSc Finance and also holds degrees in Accounting & Finance and Chemical Sciences from the Universities of Glasgow and Edinburgh, respectively. Alan holds the Investment Management Certificate (IMC) and is a Chartered Financial Analyst (CFA) charter-holder.

Fund Overview

Mid (29/04/2024) 957.50p
Historic yield 4.77%
Fund size (31/12/2023) £693.49m
Number of holdings 39
Entry Charge 0.00%
Ongoing Charges 0.78%
Launch date 12/02/1971

Asset Allocation

pie chart
  UK Equities 82.59%
  International Equities 13.00%
  Cash and Equivalents 4.41%

Commentary

SEE https://www.rutm.com/pa/investment-notes.aspx

Portfolio data accurate as at: 31/12/23

Important Information

Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your investment can go down as well as up so you might get back less than you put in. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Portfolio data accurate as at:

Asset Allocation

pie chart
  UK Equities 82.59%
  International Equities 13.00%
  Cash and Equivalents 4.41%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
 Consumer Discretionary 17.92% - - -
 
 Consumer Products & Services - 8.83% - -
 
 Household Goods & Home Construction - - 4.95% -
 
 Home Construction - - - 4.95%
 
 Consumer Services - - 2.02% -
 
 Vending & Catering Service - - - 2.02%
 
 Leisure Goods - - 1.86% -
 
 Toys - - - 1.86%
 
 Media - 4.99% - -
 
 Media - - 4.99% -
 
 Publishing - - - 3.26%
 
 Media Agencies - - - 1.74%
 
 Retail - 4.10% - -
 
 Retailers - - 4.10% -
 
 Diversified Retailers - - - 2.52%
 
 Specialty Retailers - - - 1.59%
 
 Financials 16.28% - - -
 
 Banks - 7.84% - -
 
 Banks - - 7.84% -
 
 Banks - - - 7.84%
 
 Insurance - 5.27% - -
 
 Life Insurance - - 3.26% -
 
 Life Insurance - - - 3.26%
 
 Non-life Insurance - - 2.01% -
 
 Full Line Insurance - - - 2.01%
 
 Financial Services - 3.17% - -
 
 Investment Banking & Brokerage Services - - 1.65% -
 
 Investment Services - - - 1.65%
 
 Finance & Credit Services - - 1.52% -
 
 Mortgage Finance - - - 1.52%
 
 Industrials 13.61% - - -
 
 Industrial Goods & Services - 13.61% - -
 
 Industrial Support Services - - 7.30% -
 
 Industrial Suppliers - - - 2.50%
 
 Business Training & Employment Agencies - - - 2.49%
 
 Professional Business Support Services - - - 2.31%
 
 Aerospace & Defence - - 3.68% -
 
 Defense - - - 3.68%
 
 Industrial Engineering - - 2.64% -
 
 Machinery: Specialty - - - 2.64%
 
 Consumer Staples 12.35% - - -
 
 Personal Care, Drug & Grocery Stores - 6.89% - -
 
 Personal Care, Drug & Grocery Stores - - 6.89% -
 
 Personal Products - - - 3.14%
 
 Nondurable Household Products - - - 2.75%
 
 Food Retailers & Wholesalers - - - 1.00%
 
 Food, Beverage & Tobacco - 5.45% - -
 
 Tobacco - - 5.45% -
 
 Tobacco - - - 5.45%
 
 Health Care 9.60% - - -
 
 Health Care - 9.60% - -
 
 Pharmaceuticals & Biotechnology - - 9.60% -
 
 Pharmaceuticals - - - 9.60%
 
 Utilities 7.85% - - -
 
 Utilities - 7.85% - -
 
 Electricity - - 4.03% -
 
 Conventional Electricity - - - 4.03%
 
 Gas, Water & Multi-utilities - - 3.82% -
 
 Multi-Utilities - - - 3.82%
 
 Energy 7.81% - - -
 
 Energy - 7.81% - -
 
 Non-Renewable Energy - - 7.81% -
 
 Integrated Oil & Gas - - - 7.81%
 
 Basic Materials 6.19% - - -
 
 Basic Resources - 6.19% - -
 
 Industrial Metals & Mining - - 6.19% -
 
 General Mining - - - 6.19%
 
 Cash and Equivalents 4.41% - - -
 
 Real Estate 2.49% - - -
 
 Real Estate - 2.49% - -
 
 Real Estate Investment Trusts - - 2.49% -
 
 Storage REITs - - - 2.49%
 
 Technology 1.50% - - -
 
 Technology - 1.50% - -
 
 Software & Computer Services - - 1.50% -
 
 Computer Services - - - 1.50%

Regional Allocation

pie chart
  UK 82.59%
  Developed Europe - Excl UK 7.54%
  Cash and Equivalents 4.41%
  North America 2.74%
  Australia & New Zealand 2.72%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 94.16%
  Cash 5.65%
  Pound Sterling 0.19%

Regional Breakdown

Expand allCollapse all
Region Country
 
 UK 82.59% -
 
 United Kingdom - 82.59%
 
 Developed Europe - Excl UK 7.54% -
 
 Switzerland - 2.53%
 
 Luxembourg - 2.52%
 
 Ireland - 2.50%
 
 Cash and Equivalents 4.41% -
 
 North America 2.74% -
 
 United States - 2.74%
 
 Australia & New Zealand 2.72% -
 
 Australia - 2.72%

Breakdown By Market Cap (%)

Mega
 
 
51.71%
Large
 
 
11.71%
Medium
 
 
21.59%
Small
 
 
1.59%
Non-Classified
 
 
8.99%
Cash
 
 
4.41%

Top 10 Holdings

Stock % Weight Sector Country
1 ASTRAZENECA 4.12% Pharmaceuticals & Biotechnology United Kingdom
2 SHELL 4.06% Non-Renewable Energy United Kingdom
3 SSE 4.03% Electricity United Kingdom
4 NATIONAL GRID 3.82% Gas, Water & Multi-utilities United Kingdom
5 BP 3.75% Non-Renewable Energy United Kingdom
6 BAE SYSTEMS 3.68% Aerospace & Defence United Kingdom
7 RIO TINTO 3.46% Industrial Metals & Mining United Kingdom
8 LLOYDS BANKING GROUP 3.44% Banks United Kingdom
9 LEGAL & GENERAL GROUP 3.26% Life Insurance United Kingdom
10 RELX 3.26% Media United Kingdom

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Technology 1.50% - - - - - - - 1.50%
Financials 16.28% - - - - - - - 16.28%
Real Estate 2.49% - - - - - - - 2.49%
Consumer Discretionary 15.41% 2.52% - - - - - - 17.92%
Consumer Staples 9.61% 2.74% - - - - - - 12.35%
Energy 7.81% - - - - - - - 7.81%
Utilities 7.85% - - - - - - - 7.85%
Health Care 7.07% 2.53% - - - - - - 9.60%
Industrials 11.11% 2.50% - - - - - - 13.61%
Basic Materials 3.46% 2.72% - - - - - - 6.19%
Cash and Equivalents - - - - - - - 4.41% 4.41%

Important Information

The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Identification Codes

Sedol Code B7FQLQ4
Mex Code LENCME
Isin Code GB00B7FQLQ43
Citi Code 0WFI

Fund Charges

Entry Charge 0.00%
Ongoing Charges 0.78%

Aims and Benchmark

Aims We aim to deliver an annual income that is in line with or better than that of the FTSE All-Share Index over any rolling three-year period. We also aim to increase the income we pay you in line with the Consumer Price Index (CPI) measure of inflation over any rolling five-year period. We aim to generate a greater total return than the FTSE All-Share Index, after fees, over any five-year period. Total return means the return we receive from the value of our investments increasing (capital growth) plus the income we receive from our investments (dividend payments). We use the FTSE All-Share Index as a target for our fund’s return and the income we pay because we want to offer you a better income and higher returns than the UK stock market. Increasing your income payments at least in line with the CPI measure of inflation protects your future spending power. We also compare our fund against the Investment Association (IA) UK Equity Income sector because the funds in it are similar to ours.
Benchmark IA UK Equity Income* (*indicative purposes only)
Benchmark Category -
IA Sector UK Equity Income

Fund Background

Valuation frequency Daily
Valuation point 12:00
Fund type Unit Trust
Launch price £0.25
Fund currency Pound Sterling
Fund domicile United Kingdom
ISA allowable Yes
SIPP allowable Yes

Distribution Details

Income frequency Biannually
Distribution Type Dividend
Distribution Payment Basis Net

Distribution Dates

Ex dividend date(s) Income payment date(s)
01 April 31 May
01 October 30 November

Ratings

FE Crown Crown Rating of 3

Effect of Deductions

Assuming a growth rate of 6.00% Assuming a growth rate of 7.00%
- -

Fund Administration

Fund Trustee/Depository The National Westminster Bank plc
Fund Administrator SS&C Financial Services International Limited
Fund Registrar SS&C Financial Services International Limited
Fund Custodian HSBC Bank plc

Group Details

Group name Rathbones Asset Management Limited
Group address 8 Finsbury Circus London EC2M 7AZ
Group telephone 020 7399 0000
Dealing telephone 08459 220044
Email rutm@rathbones.com
Homepage www.rutm.com
Fax number 020 7399 0011

Dealing

Minimum Investment £1000000
Minimum Top Up £500
Minimum Regular Saving -
Settlement Period: Buy 4 days
Settlement Period: Sell 4 days
Pricing Basis Forward
Dealing Decimals 2

Important Information

Ongoing charges may vary in the future and may be higher than they are now. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Important Information

Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your investment can go down as well as up so you might get back less than you put in. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage. "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.