Cazenove UK Absolute Target Class P1 Acc 
Overview
| Fund manager's initial charge | 5.00% |
|---|---|
| HL initial saving | 5.00% |
| Net initial charge | 0.00% |
| Dealing charge | Free |
| Fund manager's annual charge | 1.25% |
| Performance charges | Yes View risks |
| Total Expense Ratio | 1.40% |
| HL annual saving | 0.10% 2 |
| Platform fee | Free |
| Launch date | 18-07-2008 |
| Launch price | £1.00 |
| Sector | Absolute Return |
| Fund size | £145,831,654 million |
| Number of holdings | 80 |
| Fund type | OEIC |
| Type of units | Accumulation |
Please read the Simplified Prospectus/Key Investor Information Document in addition to the information above.
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Before you invest please read the key features and Simplified Prospectus/Key Investor Information Document for more details.
HL research - our view on this fund
Steve Cordell took over as lead manager of the fund in June, and this year has seen a strong turnaround in performance against a weak backdrop for markets. The main drivers of this have been short positions in the industrial metals and mining sectors. He has also had several short positions in Europe which has proved beneficial in light of the economic uncertainty in the region. Positive stock selection in the fund's long positions, in sectors such as industrial engineering and pharmaceuticals, has also aided performance. We are pleased to see this improvement, and, if markets remain weak, we expect the fund to make good progress.
About the Fund Manager
Steve Cordell
Located in: London UK
Steve Cordell joined Cazenove in 2002. He is a senior member of the pan-European equity team and manager of the S&P AAA-rated Cazenove Pan Europe Fund. He is also manager of the Cazenove UK Equity Absolute Return Fund, the Cazenove Leveraged UK Equity Absolute Return Fund and the Cazenove UK Absolute Target Fund. Steve joined from HSBC Asset Management (Europe) Ltd where he was responsible for the multi award-winning AA-rated HGIF Pan European Fund. He graduated from Trinity College, Oxford with a First Class (Hons) in Modern Languages and is a Member of the Securities Institute. He is a Director of Cazenove Capital and has 17 years' investment experience.
Income details
| Running yield | N/a |
|---|---|
| Income paid | Annually |
| Type of payment | Dividend |
All yields are variable and not guaranteed. There is currently no yield information available for this fund.
Distribution dates
| Ex-dividend date | 30 September 2012 |
|---|---|
| Payment date 4 | 30 November 2012 |
Top 10 holdings
| Babcock International Group | 5.02% |
|---|---|
| Melrose | 3.13% |
| Howden Joinery Group | 2.95% |
| GlaxoSmithKline | 2.62% |
| Compass Group | 2.56% |
| Reed Elsevier | 2.44% |
| Daily Mail & General Trust PLC A N.V. | 2.41% |
| BP | 2.21% |
| BAE Systems | 2.20% |
| UBM | 2.13% |
Top 10 sectors
| Cash and Equiv. | 95.86% |
|---|---|
| Media | 9.49% |
| Industrial Engineering | 4.03% |
| Oil & Gas Producers | 4.01% |
| Travel & Leisure | 3.86% |
| Pharmaceuticals & Biotechnology | 2.62% |
| Aerospace & Defence | 2.52% |
| Technology Hardware & Equipment | 1.76% |
| Automobiles & Parts | 1.47% |
| Beverages | 0.79% |
Top 10 countries
| Cash and Equiv. | 95.86% |
|---|---|
| United Kingdom | 12.00% |
| Netherlands | 1.56% |
| Spain | 1.13% |
| Germany | 0.65% |
| France | -1.38% |
| Ireland | -1.73% |
| Direct Property and REITs | -2.42% |
| Luxembourg | -2.75% |
| Sweden | -2.92% |
Some of the data on this page and other related pages is provided to you for your information and is received from the Fund Management Company administering this fund. Hargreaves Lansdown accepts no liability for the reliability or accuracy of the data provided by third parties.
2 Annual saving is not available in the SIPP or Junior ISA.
4 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.
As well as investing in shares and other assets, absolute return funds can also use derivatives to take short positions in companies. Therefore the returns depend primarily on the manager's stock picking skills, not solely on the price of their holdings rising, and the standard analysis of the underlying investments is not applicable.
Prices as at 09-02-2012. Data as at 31/01/2012.
