Fact sheet: Schroder Income Maximiser

Fund information
Fund name
Schroder Income Maximiser Z Acc
Fund manager company
Schroder UT Managers
Fund type
Unit Trust
Fund managers
  • Mike Hodgsonsince 25/07/2016
Accolades
Fund objective
The fund's investment objective is to provide income with potential for capital growth primarily through investment in equity and equity related securities of UK companies. The fund will also use derivative instruments to generate additional income. The Manager may selectively sell short dated call options over securities or portfolios of securities held by the fund or indices, in order to generate additional income by setting target 'strike' prices at which those securities may be sold in the future. The Manager may also, for the purpose of efficient management, use derivative instruments which replicate the performance of a basket of short dated call options or a combination of equity securities and short dated call options. Investment will be in directly held transferable securities. The fund may also invest in collective investment schemes, derivatives, cash, deposits, warrants and money market instruments.
Benchmark
  • FTSE All Share TR
Investment style
None
Investment method
Shares
Quick stats
1 Year return
12%
1 Year rank in sector
6/91
Sector
UT UK Equity Income
Yield
7%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.91%
Fund size
£983m (£1,037m last year)
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.
95
Bid price
75.78
Offer price
76.21
Top in this sector
Fund name1 Year
UBS UK Equity Income23.8%
Scot Wid Fdmtl Index UK Equity18.1%
SVS Church House DeepValInvts15.5%
SJP UK Growth13.7%
Jupiter Income Trust13.5%
...more in UT UK Equity Income

Performance snapshot

Holdings snapshot

  • UK83.6%
    USA13.7%
    Australia3.1%
    Money Market0.8%
    Not Specified-1.2%
  • Financials30.4%
    Consumer Services17.3%
    Health Care12.7%
    Oil & Gas11.4%
    Technology8.7%
  • UK Equities82.3%
    US Equities14.2%
    Australian Equities3.3%
    Money Market1.4%
    Alternative Investment Strategies-1.1%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0%3%10.4%12%12.9%75.6%
Sector-2%-1.7%4.8%3.4%14.4%59.6%
Rank within sector11 / 966 / 968 / 966 / 9159 / 8214 / 77
Quartile1st1st1st1st3rd1st
Calendar performance
 YTD - 20162015201420132012
Fund15.1%-6.3%3.2%25.3%25.8%
Sector4.1%4.9%2.8%24.8%13.5%
Rank within sector5 / 9286 / 8745 / 8337 / 794 / 78
Quartile1st4th3rd2nd1st
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
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.
0.96
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.
0.09
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%.
9.69
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.
4.91
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.
-0.27
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.
0.74
Price movement
52 week high77.3
52 week low59.14
Current bid price75.78
Current offer price76.21
Current mid price-
Region
1UK83.63%
2USA13.73%
3Australia3.11%
4Money Market0.76%
5Not Specified-1.23%
Industry sector
1Financials30.37%
2Consumer Services17.28%
3Health Care12.7%
4Oil & Gas11.44%
5Technology8.74%
6Basic Materials7.85%
7Utilities6.19%
8Telecommunications3.55%
9Industrials2.35%
Asset type
1UK Equities82.28%
2US Equities14.19%
3Australian Equities3.29%
4Money Market1.39%
5Alternative Investment Strategies-1.15%
Individual holdings
1BP6.81%
2HSBC HLDGS5.82%
3GLAXOSMITHKLINE5.75%
4ROYAL BANK OF SCOTLAND GROUP PLC5.03%
5BARCLAYS PLC4.96%
6AVIVA4.71%
7ROYAL DUTCH SHELL4.63%
8TESCO3.97%
9MORRISON(WM.)SUPERMARKETS3.95%
Management
Fund manager group
Schroders
Fund manager company
Schroder UT Managers
Fund type
Unit Trust
Fund objective
The fund's investment objective is to provide income with potential for capital growth primarily through investment in equity and equity related securities of UK companies. The fund will also use derivative instruments to generate additional income. The Manager may selectively sell short dated call options over securities or portfolios of securities held by the fund or indices, in order to generate additional income by setting target 'strike' prices at which those securities may be sold in the future. The Manager may also, for the purpose of efficient management, use derivative instruments which replicate the performance of a basket of short dated call options or a combination of equity securities and short dated call options. Investment will be in directly held transferable securities. The fund may also invest in collective investment schemes, derivatives, cash, deposits, warrants and money market instruments.
Benchmark
  • FTSE All Share TR
Investment style
None
Investment method
Shares
Fund managers
NameSinceBiography
Mike Hodgson25/07/2016Mike Hodgson is Head of Risk Managed Investments & Structuring at Schroders and has over 25 years of experience in financial markets. At Royal Bank of Scotland (formerly of ABN AMRO) he was Global Head of Equity Derivatives Structuring and Head of Fund Derivatives Trading and Structuring.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Schroder Income Maximiser A Acc
Initial charge-
Annual charge1.5%
Min single investment£1,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)1.66%
Total expense ratio (TER)1.66%
Bid price98.38
Offer price98.93
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeRZ83
Schroder Income Maximiser A Inc
Initial charge-
Annual charge1.5%
Min single investment£1,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)1.66%
Total expense ratio (TER)1.66%
Bid price43.67
Offer price43.91
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeRZ93
Schroder Income Maximiser L Acc
Initial charge-
Annual charge0.68%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.84%
Total expense ratio (TER)-
Bid price59.16
Offer price59.49
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJOVN
Schroder Income Maximiser L Inc
Initial charge-
Annual charge0.68%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.84%
Total expense ratio (TER)-
Bid price47.19
Offer price47.45
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJOVO
Schroder Income Maximiser Z Acc
Initial charge-
Annual charge0.75%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.91%
Total expense ratio (TER)0.91%
Bid price75.78
Offer price76.21
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNND1
Schroder Income Maximiser Z Inc
Initial charge-
Annual charge0.75%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.91%
Total expense ratio (TER)0.91%
Bid price51.17
Offer price51.46
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNND2
Data provided by

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