Schroder Global Alpha Plus Class A Accumulation
Also available as
income units
Charges and savings
| Fund manager's initial charge | 0.00% |
|---|---|
| HL saving on initial charge | 0.00% |
| HL Dealing charge | Free |
| Net initial charge | 0.00% |
| Fund manager's annual charge | 1.50% |
| HL Annual saving (loyalty bonus) | 0.10% 2 |
| Net Annual charge | 1.40% |
| Fund manager's other expenses | 0.23% |
| Performance fee | No |
| HL Platform charge | Free |
Please read the Simplified Prospectus/Key Investor Information Document in addition to the information above. Further details available in the HL guide to fund prices, savings and yields.
Other information
| Launch date | 30-04-2010 |
|---|---|
| Launch price | £0.50 |
| Sector | Global |
| Fund size | £49.00 million |
| Number of holdings | 35 |
| Fund type | Unit Trust |
| Type of units | Accumulation |
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Before you invest please read the documents below.
HL research - our view on this fund
The Schroder Global Alpha Plus Fund has been removed from the Wealth 150 list of our favourite funds for new investment.The fund is managed by Virginie Maisonneuve and was launched in April 2010. It is a concentrated portfolio of the manager's 30 to 40 best ideas from across global stock markets, including higher risk emerging markets.
Volatile stock markets over the past couple of years have provided an unpredictable environment, and many fund managers have struggled to outperform. For this fund the initial results have been disappointing. Please remember past performance is not an indicator of future performance.
Our analysis suggests the fund has been more volatile than the benchmark while also suffering a larger maximum drawdown (peak to trough fall in value). In addition, taking the portfolio's monthly returns into consideration Virginie Maisonneuve has, on average, slightly underperformed her benchmark in both rising and falling markets since the fund's launch.
There have been some successes for the fund; however these have not made up for poor performance elsewhere. Our analysis suggests stock selection has detracted from performance overall, particularly in the oil & gas, mining and industrial sectors. UK listed oil & gas company BG Group and Australian iron ore miner Atlas Iron have both been disappointing investments so far.
There has also been a higher level of buying and selling stocks within the portfolio (a higher 'portfolio turnover rate') than we would have expected. This can be justified in certain circumstances, but we do not believe it is in keeping with this fund's aim of investing in companies capable of long-term growth, and feel it could be a further reason for the fund's underperformance.
We have therefore removed the fund from the Wealth 150, which is reserved for the funds we believe offer the best long-term prospects. There is no escaping the fact that the fund's performance has been disappointing to date. Investors seeking an alternative to this fund might wish to refer to the Global Funds section of the Wealth 150.
About the Fund Manager
Virginie Maisonneuve
Located in: London
Joined Schroders in 2004. Investment career commenced in 1987. Currently Head of the Global and International Equity team and voting member the Cyclical Market Forum, based in London. Virginie joined Schroders from Clay Finlay, where she became Co-CIO and was a Director and a member of the Executive Committee and the Investment Policy Committee Meeting. She worked for the firm from 1998 and was based in New York. Prior to this, from 1996 she held a fund management position at State Street Research and Management in San Francisco. Before this, Virginie worked as a fund manager at Batterymarch Financial Management in Boston from 1990. Up to that time she worked for Martin Currie in Scotland from 1987, managing Continental European equity funds. Earlier, in 1986 Virginie was a consultant with the French Ministry of Foreign Affairs in China. CFA charterholder. MBA, Ecole Superieure Libre des Sciences Commerciales Appliquees (ESLSCA). MA in Mandarin Chinese, People's University (renda), Beijing. BA in Political Economy, Dauphine University.
Income details
| Historic yield | 0.18% |
|---|---|
| Income paid | Annually |
| Type of payment | Dividend |
All yields are variable and not guaranteed. Information as at 30-04-2013.
Top 10 holdings
| Danaher Corp. | 3.89% |
|---|---|
| SLM Corp. | 3.88% |
| Microsoft Corp. | 3.86% |
| Bank Rakyat Indonesia | 3.83% |
| Mead Johnson Nutrition Co. | 3.72% |
| Essilor International S.A. | 3.68% |
| AIA Group | 3.67% |
| Morgan Stanley | 3.61% |
| JPMorgan Chase & Co. | 3.60% |
| Astellas Pharmaceutical | 3.58% |
Top 10 sectors
| Banks | 13.40% |
|---|---|
| Software & Computer Services | 10.28% |
| General Industrials | 9.72% |
| General Retailers | 7.74% |
| Financial Services | 7.48% |
| Pharmaceuticals & Biotechnology | 6.92% |
| Industrial Engineering | 5.46% |
| Food Producers | 3.72% |
| Health Care Equipment & Services | 3.68% |
| Life Insurance | 3.67% |
Top 10 countries
| United States | 38.54% |
|---|---|
| France | 14.71% |
| Japan | 9.21% |
| United Kingdom | 8.87% |
| Indonesia | 5.24% |
| Hong Kong | 3.67% |
| Switzerland | 3.34% |
| Netherlands | 3.33% |
| Singapore | 3.22% |
| Israel | 3.18% |
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 (loyalty bonus) only available on holdings worth over £1,000. Loyalty bonuses in the Vantage Fund & Share Account are paid net of basic rate tax. Loyalty bonuses in the Vantage ISA and SIPP are tax-free and paid gross.
4 If you elect to receive the income from a Vantage ISA or Vantage Fund & 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 23-05-2013. Data as at 30/04/2013.
