Aviva Investors UK Funds US Equity Income Fund II Class 2 Inc
Report And Accounts
Simplified Prospectus / KIID
Private Investor Factsheet
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 | -14.3% | 34.9% | 18.9% | -2.6% | 9.2% |
| Sector | -4.0% | 42.4% | 16.1% | -4.0% | 25.1% |
| Rank | 169/204 | 187/218 | 65/227 | 50/244 | 239/253 |
| Quartile | 4 | 4 | 2 | 1 | 4 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/03/24 |
5 Years to 31/03/24 |
10 Years to 31/03/24 |
||
| Fund | 8.2% | 7.9% | 10.1% | |
| Sector | 11.7% | 13.8% | 13.8% | |
| Rank | 163/227 | 190/204 | 111/124 | |
| Quartile | 3 | 4 | 4 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| ORACLE CORPORATION | 4.49 |
| PROGRESSIVE CORPORATION (THE) | 3.91 |
| THE WILLIAMS COMPANIES | 3.81 |
| COMCAST CORP(NEW) | 3.54 |
| KINDER MORGAN INC DELAWARE | 3.29 |
| PNC FINANCIAL SERVICES GROUP INC.(THE) | 3.26 |
| UNILEVER | 3.03 |
| CORNING INCORPORATED | 3.02 |
| UNITED PARCEL SERVICE INC | 2.98 |
| MICRON TECHNOLOGY | 2.93 |
| Total | 34.26 |
Fund Aims
The Fund aims to provide a rolling annual income yield 1.5% higher than the annual income yield produced by the broad US value equity share index – the Russell 3000 Value Index, together with the potential for share price growth. The Fund will invest in the shares of a broad range of US Companies based on the Fund Managers view of their long term return prospects, both in terms of potential income and share price growth. Typically at least 80% of the Fund will be invested in the shares of companies listed on North American stock exchanges, which are at least 1 billion US dollars in size. The Fund may have a small level of investment in other geographical regions.
Fund Manager
Henry joined the investment industry in 1989 and was a founding member of River Road. He currently serves as the lead portfolio manager of River Road’s dividend all-cap value discipline and as co-manager of their small cap and small-mid cap value disciplines. Prior to founding River Road, Henry was a Senior Vice President and Portfolio Manager for Commonwealth Trust Company. Previously, he was President of Bridges Capital Management and Vice President of PRIMCO Capital Management. Henry earned the CFA designation in 1992. He is a member of the CFA Institute and an active member and past president of the CFA Society of Louisville. He also holds a BA in Business Administration from Bellarmine University and an MBA from Boston College. He has served as adjunct Professor of Finance and Economics at Bellarmine University.
Thomas joined the investment industry in 1998 and
River Road in July 2005. Prior to joining River Road,
Thomas was an equity analyst and portfolio
manager with ABN AMRO Asset Management USA,
where he was responsible for the management of
the North American equity allocation of the firm’s
global high income fund. Thomas is a CFA
charterholder, having earlier received a BS in
Finance from the Ohio State University’s Fisher
College of Business and an MBA from the University
of Chicago Booth School of Business. He is also a
member of the CFA Institute and the CFA Society of
Louisville.
Fund Overview
| Mid (17/04/2024) | 198.34p |
| Historic yield | 3.10% |
| Fund size (31/03/2024) | $189.38m |
| Number of holdings | 65 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.75% |
| Launch date | 09/09/2013 |
Asset Allocation
| International Equities | 94.88% | |
| UK Equities | 4.97% | |
| Cash and Equivalents | 0.15% |
Commentary
The three largest contributors were our holdings in Cinemark, an operator of movie theatres in the U.S. and international markets; Cisco Systems, connector of people and networks to the internet through integrated hardware and software solutions; and Interpublic Group of Companies, a global provider of advertising and marketing services. The three main detractors were discount retailer Walmart; United Parcel Service, the largest package delivery company in the world, and Aircastle which acquires and leases commercial jet aircraft to passenger and cargo airlines globally. Market volatility rose sharply in early February, generating significant losses for strategies that were inherently low volatility. However, the spike was short lived as the CBOE VIX declined sharply, although it has remained at levels well above the historic lows of recent months. Despite the sudden increase in risk aversion, investors continued to favor growth stocks over value. As the fourth quarter earnings season comes to a close, it is clear that corporate America has built very strong earnings momentum going into 2018. Analysts are making significant upward revisions to their expectations for 2018, while management reports increasingly support our belief that the lower tax rate represents a significant stimulus for earnings and dividend growth in the year to come, which should help drive the market higher yet.
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.
Asset Allocation
| International Equities | 94.88% | |
| UK Equities | 4.97% | |
| Cash and Equivalents | 0.15% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Financials | 16.96% | - | - | - | |
| Insurance | - | 11.01% | - | - | |
| Non-life Insurance | - | - | 11.01% | - | |
| Property & Casualty Insurance | - | - | - | 9.21% | |
| Insurance Brokers | - | - | - | 0.97% | |
| Full Line Insurance | - | - | - | 0.82% | |
| Banks | - | 5.96% | - | - | |
| Banks | - | - | 5.96% | - | |
| Banks | - | - | - | 5.96% | |
| Technology | 15.75% | - | - | - | |
| Technology | - | 15.75% | - | - | |
| Technology Hardware & Equipment | - | - | 9.77% | - | |
| Semiconductors | - | - | - | 6.75% | |
| Electronic Components | - | - | - | 3.02% | |
| Software & Computer Services | - | - | 5.98% | - | |
| Software | - | - | - | 5.21% | |
| Computer Services | - | - | - | 0.77% | |
| Consumer Staples | 11.93% | - | - | - | |
| Personal Care, Drug & Grocery Stores | - | 8.52% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 8.52% | - | |
| Personal Products | - | - | - | 5.26% | |
| Food Retailers & Wholesalers | - | - | - | 3.25% | |
| Food, Beverage & Tobacco | - | 3.41% | - | - | |
| Beverages | - | - | 3.41% | - | |
| Soft Drinks | - | - | - | 3.41% | |
| Utilities | 11.62% | - | - | - | |
| Utilities | - | 11.62% | - | - | |
| Electricity | - | - | 10.17% | - | |
| Conventional Electricity | - | - | - | 10.17% | |
| Gas, Water & Multi-utilities | - | - | 1.46% | - | |
| Multi-Utilities | - | - | - | 1.46% | |
| Health Care | 10.85% | - | - | - | |
| Health Care | - | 10.85% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 10.85% | - | |
| Pharmaceuticals | - | - | - | 10.85% | |
| Energy | 9.00% | - | - | - | |
| Energy | - | 9.00% | - | - | |
| Non-Renewable Energy | - | - | 9.00% | - | |
| Pipelines | - | - | - | 7.10% | |
| Oil: Crude Producers | - | - | - | 1.10% | |
| Oil Refining and Marketing | - | - | - | 0.80% | |
| Telecommunications | 8.24% | - | - | - | |
| Telecommunications | - | 8.24% | - | - | |
| Telecommunications Service Providers | - | - | 6.80% | - | |
| Cable Television Services | - | - | - | 3.92% | |
| Telecommunications Services | - | - | - | 2.88% | |
| Telecommunications Equipment | - | - | 1.44% | - | |
| Telecommunications Equipment | - | - | - | 1.44% | |
| Consumer Discretionary | 7.11% | - | - | - | |
| Retail | - | 3.42% | - | - | |
| Retailers | - | - | 3.42% | - | |
| Diversified Retailers | - | - | - | 3.42% | |
| Automobiles & Parts | - | 2.32% | - | - | |
| Automobiles & Parts | - | - | 2.32% | - | |
| Auto Parts | - | - | - | 2.32% | |
| Media | - | 1.38% | - | - | |
| Media | - | - | 1.38% | - | |
| Media Agencies | - | - | - | 1.38% | |
| Industrials | 4.70% | - | - | - | |
| Industrial Goods & Services | - | 2.98% | - | - | |
| Industrial Transportation | - | - | 2.98% | - | |
| Delivery Services | - | - | - | 2.98% | |
| Construction & Materials | - | 1.71% | - | - | |
| Construction & Materials | - | - | 1.71% | - | |
| Building: Climate Control | - | - | - | 1.71% | |
| Real Estate | 3.69% | - | - | - | |
| Real Estate | - | 3.69% | - | - | |
| Real Estate Investment Trusts | - | - | 3.69% | - | |
| Infrastructure REITs | - | - | - | 3.69% | |
| Cash and Equivalents | 0.15% | - | - | - | |
Regional Allocation
| North America | 91.42% | |
| UK | 4.97% | |
| Developed Europe - Excl UK | 3.46% | |
| Cash and Equivalents | 0.15% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 94.82% | |
| Cash | 3.90% | |
| US Dollar | 1.28% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| North America | 91.42% | - | |
United States
|
- | 90.21% | |
Canada
|
- | 1.21% | |
| UK | 4.97% | - | |
United Kingdom
|
- | 4.97% | |
| Developed Europe - Excl UK | 3.46% | - | |
Switzerland
|
- | 2.49% | |
Ireland
|
- | 0.97% | |
| Cash and Equivalents | 0.15% | - | |
Breakdown By Market Cap (%)
| Mega |
|
53.00% |
| Large |
|
26.19% |
| Medium |
|
14.47% |
| Non-Classified |
|
6.18% |
| Cash |
|
0.15% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | ORACLE CORPORATION | 4.49% | Software & Computer Services | United States |
| 2 | PROGRESSIVE CORPORATION (THE) | 3.91% | Non-life Insurance | United States |
| 3 | THE WILLIAMS COMPANIES | 3.81% | Non-Renewable Energy | United States |
| 4 | COMCAST CORP(NEW) | 3.54% | Telecommunications Service Providers | United States |
| 5 | KINDER MORGAN INC DELAWARE | 3.29% | Non-Renewable Energy | United States |
| 6 | PNC FINANCIAL SERVICES GROUP INC.(THE) | 3.26% | Banks | United States |
| 7 | UNILEVER | 3.03% | Personal Care, Drug & Grocery Stores | United Kingdom |
| 8 | CORNING INCORPORATED | 3.02% | Technology Hardware & Equipment | United States |
| 9 | UNITED PARCEL SERVICE INC | 2.98% | Industrial Transportation | United States |
| 10 | MICRON TECHNOLOGY | 2.93% | Technology Hardware & Equipment | United States |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 15.75% | - | - | - | - | - | - | 15.75% |
| Telecommunications | - | 8.24% | - | - | - | - | - | - | 8.24% |
| Financials | - | 16.96% | - | - | - | - | - | - | 16.96% |
| Real Estate | - | 3.69% | - | - | - | - | - | - | 3.69% |
| Consumer Discretionary | - | 7.11% | - | - | - | - | - | - | 7.11% |
| Consumer Staples | 3.03% | 8.90% | - | - | - | - | - | - | 11.93% |
| Energy | - | 9.00% | - | - | - | - | - | - | 9.00% |
| Utilities | - | 11.62% | - | - | - | - | - | - | 11.62% |
| Health Care | 1.94% | 8.91% | - | - | - | - | - | - | 10.85% |
| Industrials | - | 4.70% | - | - | - | - | - | - | 4.70% |
| Cash and Equivalents | - | - | - | - | - | - | - | 0.15% | 0.15% |
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 | BCGD4P9 |
| Mex Code | NUAAFL |
| Isin Code | GB00BCGD4P92 |
| Citi Code | JOIO |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.75% |
Aims and Benchmark
| Aims | The Fund aims to provide a rolling annual income yield 1.5% higher than the annual income yield produced by the broad US value equity share index – the Russell 3000 Value Index, together with the potential for share price growth. The Fund will invest in the shares of a broad range of US Companies based on the Fund Managers view of their long term return prospects, both in terms of potential income and share price growth. Typically at least 80% of the Fund will be invested in the shares of companies listed on North American stock exchanges, which are at least 1 billion US dollars in size. The Fund may have a small level of investment in other geographical regions. |
| Benchmark | Russell 3000 Value |
| Benchmark Category | - |
| IA Sector | North America |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | OEIC |
| Launch price | 100.00p |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | No |
| SIPP allowable | No |
Distribution Details
| Income frequency | Quarterly |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 29 November | 28 January |
| 01 March | 28 April |
| 29 May | 28 July |
| 29 August | 28 October |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | J.P. Morgan Europe Limited |
| Fund Administrator | IFDS |
| Fund Registrar | IFDS |
| Fund Custodian | J.P. Morgan Chase Bank |
Group Details
| Group name | Aviva Investors UK Fund Services Limited |
| Group address | St Helen's 1 Undershaft London EC3P 3DQ |
| Group telephone | 0800 015 4773 |
| Dealing telephone | 0800 587 4563 |
| fund&salessupport@avivainvestors.com | |
| Homepage | www.avivainvestors.co.uk |
| Fax number | - |
Dealing
| Minimum Investment | £250000 |
| Minimum Top Up | £25000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 4 days |
| Settlement Period: Sell | 4 days |
| Pricing Basis | Forward |
| Dealing Decimals | 3 |
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.