Fact sheet: AberforthGeardIncTstPlc

Fund information
Fund name
Aberforth Geared Income Trust Plc Ord 1P
Fund manager company
Aberforth Partners
Fund type
Investment Trust
Fund managers
  • Keith Muirsince 03/03/2011
  • Andrew Bamfordsince 28/04/2010
  • Richard Newberysince 28/04/2010
  • Alistair Whytesince 28/04/2010
  • Euan Macdonaldsince 28/04/2010
Fund objective
The Fund’s objective is to provide Ordinary (Ord) shareholders with a high level of income, with the potential for income and capital growth, and to provide Zero Dividend Preference (ZDP) shareholders with a pre-determined final capital entitlement of 159.7p per ZDP share on the planned winding up date of 30 June 2017
Benchmark
  • No Specified Index
Investment style
None
Investment method
Shares
Quick stats
1 Year return
-4.2%
1 Year rank in sector
10/18
Sector
IT UK Smaller Companies
Yield
5%
Fund size
£197m
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
128
Mid price
180
NAV
?Net asset value. The NAV per share may be higher or lower than the share price, which in turn is trading at either a discount or a premium to NAV.
208.25
Discount/Premium
?When the market price of an investment trust’s shares is less than the net asset value (NAV) per share then it is trading at a discount to NAV. A trust’s shares are on a premium when they trade at a higher price than the NAV.
-12.36
Gearing
?Investment trusts have the ability to borrow money which they invest with the aim of generating a higher return than the cost of the loan. An ungeared trust has a figure of 100. A figure of 110 would represent a trust with 10% gearing.
147
Top in this sector
Fund name1 Year
Chelverton Growth Trust plc33%
Rights & Issues IT28.8%
Invesco Perp UK Sm Cos plc6.8%
River & Merc UK Micro Cap3.3%
Dunedin Sm Cos IT PLC-0.2%
...more in IT UK Smaller Companies

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-3.7%-8.5%-6.3%-4.2%30%189.3%
Sector-3.1%-0.3%2.1%1.2%23.3%114%
Rank within sector14 / 1816 / 1816 / 1810 / 186 / 162 / 16
Quartile4th4th4th3rd2nd1st
Calendar performance
 YTD - 20162015201420132012
Fund-8.5%33.9%-0.3%66.3%44.2%
Sector-1.3%25.3%-5.1%44.7%28.8%
Rank within sector11 / 184 / 177 / 162 / 164 / 16
Quartile3rd1st2nd1st1st
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
1.01
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
1.24
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.44
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
17.01
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
9.58
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.24
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.71
Price movement
52 week high208
52 week low166
Current bid price180
Current offer price185.5
Current mid price180
Region
1UK100%
Industry sector
1Industrials40%
2Consumer Services20%
3Financials19%
4Consumer Goods8%
5Technology6%
6Basic Materials4%
7Telecommunications2%
8Oil & Gas1%
Asset type
1UK Equities100%
Individual holdings
1HILTON FOOD GROUP PLC3.5%
2E2V TECHNOLOGIES3.3%
3VESUVIUS INDIA3.2%
4VESUVIUS INDIA3.2%
5HOGG ROBINSON GROUP PLC2.8%
6LADBROKES CORAL GROUP PLC2.8%
7NORTHGATE PLC2.8%
8NATIONAL EXPRESS GROUP2.6%
9GALLIFORD TRY PLC2.4%
Management
Fund manager group
Aberforth
Fund manager company
Aberforth Partners
Fund type
Investment Trust
Fund objective
The Fund’s objective is to provide Ordinary (Ord) shareholders with a high level of income, with the potential for income and capital growth, and to provide Zero Dividend Preference (ZDP) shareholders with a pre-determined final capital entitlement of 159.7p per ZDP share on the planned winding up date of 30 June 2017
Benchmark
  • No Specified Index
Investment style
None
Investment method
Shares
Fund managers
NameSinceBiography
Keith Muir03/03/2011Keith joined Aberforth Partners in March 2011 and is responsible for investment research and stock selection in the following areas – Automobiles & Parts; Chemicals; Construction & Materials; Electricity; Fixed Line Telecommunications; Gas, Water & Multiutilities; Household Goods & Home Construction; Industrial Metals & Mining; Leisure Goods; Mining; and Mobile Telecommunications. Previously he was an Investment Director with Standard Life Investments for 13 years and spent the last 9 years as a senior member of the Smaller Companies team with associated portfolio management responsibilities. Prior to that he gained experience with Southpac, Scottish Equitable and Murray Johnstone.
Andrew Bamford28/04/2010Andy joined in April 2001, became a Partner in May 2004, and is responsible for investment research and stock selection in the following areas –Information Technology Hardware; Leisure & Hotels; and Transport. Previously he was with Edinburgh Fund Managers for 7 years, latterly as Deputy Head of UK Small Companies, with specific responsibility for institutional clients. Prior to joining Edinburgh Fund Managers he was a senior investment analyst with General Accident for 2 years supporting the head of UK Smaller Companies. Before joining General Accident, he was a chartered accountant with Price Waterhouse.
Richard Newbery28/04/2010Richard was a founding partner in May 1990 and is responsible for investment research and stock selection in the following areas–Electronic & Electrical Equipment; Food & Drug Retailers; Food Producers & Processors; and General Retailers. Previously he was with Ivory & Sime for 9 years where he managed international portfolios for a range of clients including those with a small company specialisation.
Alistair Whyte28/04/2010Alistair was a founding partner in May 1990 and is responsible for investment research and stock selection in the following areas -Aerospace & Defence; Diversified Industrials; Media & Entertainment; Mining; Oil & Gas; Pharmaceuticals & Biotechnology; and Steel & Other Metals. Previously he was with Ivory & Sime for 11 years where latterly he managed portfolios in Asia. Prior to that he managed portfolios with the objective of capital growth from smaller companies in the UK and internationally.
Euan Macdonald28/04/2010Euan joined in May 2001, became a Partner in May 2004, and is responsible for investment research and stock selection in the following areas –Beverages; Engineering & Machinery; Personal Care & Household Products; and Software & Computer Services. Previously he was with Baillie Gifford for 10 years where he managed portfolios invested in small companies both in Continental Europe and in the UK.
Compliance
AIC Member
Domicile
No data available.
Fund for sale in
United Kingdom
Aberforth Geared Income Trust Plc ORD 1P
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price204.38
CurrencyGBX
Price updated30/11/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNJEH
Aberforth Geared Income Trust Plc Ord 1P
Initial charge-
Annual charge0.91%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price180
Offer price185.5
Mid price180
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJ2B1
Aberforth Geared Income Trust Plc ZDP 1P
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price153.79
CurrencyGBX
Price updated30/11/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNJHG
Data provided by

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