JPMorgan Natural Resources Accumulation Units 
Also available as income units
Overview
| Fund manager's initial charge | 4.25% |
|---|---|
| HL initial saving | 4.25% |
| Net initial charge | 0.00% |
| Dealing charge | Free |
| Fund manager's annual charge | 1.50% |
| Performance charges | No |
| Total Expense Ratio | 1.67% |
| HL annual saving | 0.25% 2 |
| Platform fee | Free |
| Launch date | 01-06-1965 |
| Launch price | £0.50 |
| Sector | Specialist |
| Fund size | £2,002 million |
| Number of holdings | 285 |
| Fund type | ICVC |
| Type of units | Accumulation |
Please read the Simplified Prospectus/Key Investor Information Document in addition to the information above.
Invest online now
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
JP Morgan has announced that Ian Henderson, the lead manager of the JPM Natural Resources Fund, will be stepping down from the day-to-day management of the fund on 31 January 2012 after almost 20 years at the helm. Full responsibility for the fund will pass to Neil Gregson, who joined the group in September 2010.Neil Gregson has been working closely with Ian Henderson for some time as part of a succession-planning strategy. He began his career in 1984, holding various positions at mining and resource companies before moving to Credit Suisse in 1990, where he was Head of Emerging Markets and also managed several gold and resources funds.
He has a similar investment approach to Ian Henderson. Over the last year, he has become familiar with the underlying holdings in the portfolio and has already made his mark on the fund, so there are unlikely to be any major changes following the handover. Ian Henderson will remain a key member of the team in an advisory capacity until March 2013.
We do not believe investors need to take any immediate action. Neil Gregson has a great deal of experience in the resources sector and we are due to meet him over the coming weeks. If our views on the fund change following the meeting, we will contact investors. The fund remains on the Wealth 150 list of our favourite funds in each sector.
About the Fund Manager
Neil Gregson
Located in: .
Neil Gregson, managing director, is a portfolio manager in the Global Equities Team based in London, and is a member of the team responsible for global natural resources mandates. Neil joined the team in September 2010 from CQS Asset Management where he was a Senior Portfolio Manager and Head of the Long-Only Business, with particular focus on the natural resources sector. Prior to this, Neil was the head of Emerging Markets at Credit Suisse Asset Management where he managed gold and resource equity funds. Neil began his career holding various positions at mining and resource companies, including a role as a mining investment analyst at South African company Gold Fields. He is a qualified mining engineer and holds a BSc in Mining Engineering from Nottingham University.
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 | 31 January 2012 |
|---|---|
| Payment date 4 | 30 April 2012 |
Top 10 holdings
| Xstrata | 2.28% |
|---|---|
| Anglo American | 2.22% |
| Rio Tinto | 2.20% |
| Kinross Gold Corp. | 2.03% |
| Canadian Natural Resources | 1.61% |
| Pacific Rubiales Energy | 1.55% |
| Randgold Resources Ltd. ADS | 1.52% |
| Aurora Oil and Gas | 1.50% |
| Barrick Gold Corp. | 1.45% |
| Silver Wheaton Corp. | 1.42% |
Top 10 sectors
| Mining | 60.16% |
|---|---|
| Oil & Gas Producers | 20.35% |
| Industrial Metals & Mining | 12.87% |
| Non-Classified | 3.04% |
| Managed Funds | 1.34% |
| Food Producers | 1.28% |
| Electronic & Electrical Equipment | 0.60% |
| Cash and Equiv. | 0.16% |
| Financial Services | 0.13% |
| Bonds | 0.07% |
Top 10 countries
| Canada | 37.45% |
|---|---|
| United Kingdom | 23.08% |
| Australia | 17.41% |
| United States | 7.69% |
| Hong Kong | 2.26% |
| Ireland | 1.85% |
| China | 1.84% |
| Managed Funds | 1.34% |
| Indonesia | 1.24% |
| South Africa | 0.98% |
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.
Prices as at 09-02-2012. Data as at 31/12/2011.
