ASI UK Unconstrained Equity Institutional Class - Accumulation (GBP)

Sell:273.40p Buy:273.40p Change:

2.10p (0.77%)

Prices as at 17 January 2020

Sell:273.40p

Buy:273.40p

Change:

2.10p (0.77%)

You can buy or sell holdings in this fund through an ISA, Lifetime ISA, SIPP or Fund & Share Account

Prices as at 17 January 2020

Sell:273.40p

Buy:273.40p

Change:

2.10p (0.77%)

Prices as at 17 January 2020

You can buy or sell holdings in this fund through an ISA, Lifetime ISA, SIPP or Fund & Share Account

The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Charges and Savings

Initial charges
Initial charge:	0.00%
Initial saving from HL:	0.00%
HL dealing charge:	Free
Net initial charge:	0.00%

How initial savings affect the buy price

Annual charges

Performance fee:

Ongoing charge (OCF/TER):

1.16% i

Ongoing saving from HL:

0.25% i

Net ongoing charge:

0.91%

There are other unit types of this fund available:

Inclusive - Class R - Accumulation (GBP)

(Net ongoing charge 0.91%)

HMRC believes that from April 2013 rebates of annual charges (such as loyalty bonuses) paid on funds held in nominee accounts, such as our Fund & Share Account, should be subject to income tax. Loyalty bonuses paid on funds in ISAs and SIPPs are unaffected, and they remain tax-free.

We believe all loyalty bonuses are tax-free and we are challenging HMRC's interpretation. However, while we make this challenge we are paying loyalty bonuses within the Vantage Fund & Share Account net of an amount equivalent to the basic rate tax. If we are successful in our challenge we will return this money to clients. If we are unsuccessful we will use the money to pay over any amounts due to HMRC.

If loyalty bonuses are taxable then the value of our ongoing saving to you could be reduced, depending on the rate of tax you pay. The below table gives an indication of how this may affect you.

In this case, the ongoing saving is 0.25%, of which 0.00% is paid by loyalty bonus. The tax that could be payable on this loyalty bonus, and therefore the value of this saving to you, is shown below.

	Non-taxpayer	Basic rate taxpayer	Higher rate taxpayer	Additional rate taxpayer
Ongoing saving from HL:	0.25%	0.25%	0.25%	0.25%
Loyalty bonus:	0.00%	0.00%	0.00%	0.00%
Tax on loyalty bonus:	0.00%	0.00%	0.00%	0.00%
Value of ongoing saving to you:	0.25%	0.25%	0.25%	0.25%

Tax rules can change and benefits depend on individual circumstances. Please remember loyalty bonuses received on funds held in the Vantage ISA or Vantage SIPP are exempt from tax.

Also, loyalty bonuses received by overseas investors, companies and charities are not required to be paid with the deduction of tax. Therefore, if you are an overseas investor, or you represent a company or charity please let us know if you would like your loyalty bonuses paid without the deduction of an amount equivalent to the basic rate tax.

In some cases the ongoing savings are provided by our loyalty bonus. Loyalty bonuses are tax-free in an ISA or SIPP. However, they may be subject to tax in a Fund & Share Account which would, in effect, reduce their value and increase the net ongoing charge.

HL Guide to fund prices, savings and yields

Please also read the Key Investor Information Document (KIID)

Other Information

Unit type:	Unbundled
Manager:	Wesley McCoy Wesley McCoy
Fund launch date:	29 September 2005
Sector:	UK All Companies
Fund size:	£444 million
Number of holdings:	43
Fund type:	OEIC
Accumulation/income:	Accumulation
Dealing frequency:	Daily
Valuation point:	12:00
Trustee:	Citibank
Minimum investment:	£100.00
Charges deducted from:	Income
Available in a regular savings plan:	Yes
Minimum regular savings value:	£25.00

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Performance

	17/01/15 to 17/01/16	17/01/16 to 17/01/17	17/01/17 to 17/01/18	17/01/18 to 17/01/19	17/01/19 to 17/01/20
Annual return	3.08%	7.50%	24.21%	-18.49%	12.14%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

View fund chart

Our view on this fund

HL Research

We think this fund is a more adventurous way to invest in the UK stock market.

Wesley McCoy is the fund's lead manager, though he also has the support of Standard Life's UK equity team. The "unconstrained" approach means they invest in companies of any size. They also invest in...

Our latest article

Dominic Rowles | 27 June 2019

Wesley McCoy invests in companies many other investors overlook. His fund's performance has struggled in recent years but he remains positive. Find out why in this update.

Fund Objective

To generate growth over the long term (5 years or more) by investing in UK equities (company shares). Performance Target: To achieve the return of the FTSE 350 ex Investment Trusts Equally Weighted Index, plus 3% per annum over rolling three year periods (before charges). The Performance Target is the level of performance that the management team hopes to achieve for the fund. There is however no certainty or promise that they will achieve the Performance Target. Performance Comparator: The IA UK All Companies Equity Sector Average. The ACD believes this is an appropriate target/comparator for the fund based on the investment policy of the fund and the constituents of the index/sector.

Income Details

Historic yield :	2.89%
Income paid:	Bi-annually
Type of payment:	Dividend
Ex-dividend date:	1 November 2019 1 May 2020
Payment date:	28 February 2020⁴ 30 June 2020⁴

This data is provided by Funds Library. HL accepts no responsibility for its accuracy and you should independently check data before making any investment decision. All yields are variable and not guaranteed. Information correct as at 30 November 2019.

Security	Weight
BODYCOTE	5.24%
JOHNSON MATTHEY	4.45%
BELLWAY	4.16%
GVC HLDGS	4.13%
CREST NICHOLSON HLDGS	4.01%
MITCHELLS & BUTLERS	3.93%
PROVIDENT FINANCIAL	3.91%
IMPERIAL BRANDS	3.79%
BARCLAYS	3.74%
CINEWORLD GROUP	3.66%

Sector	Weight
Travel & Leisure	18.27%
Household Goods & Home Construction	11.47%
Industrial Support Services	7.39%
Tobacco	7.21%
Finance & Credit Services	6.72%
Banks	6.72%
Software & Computer Services	5.33%
Industrial Metals & Mining	5.24%
Chemicals	4.45%
Aerospace & Defence	4.31%

Country	Weight
United Kingdom	97.94%
United States	1.04%
Direct Property and REITs	0.56%
Cash and Equiv.	0.45%

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Prices provided by Morningstar, correct as at 17 January 2020. Data provided by Funds Library, correct as at 30 November 2019.

You can buy or sell holdings in this fund through an ISA, Lifetime ISA, SIPP or Fund & Share Account

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.

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Wesley McCoy
Manager start date	23/06/2015
Manager located in	London