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Franklin UK Managers' Focus Inclusive - Class A - Accumulation (GBP)

Sell:265.69p Buy:265.69p Change: 0.19p (0.07%)
Prices as at 18 October 2019
Sell:265.69p
Buy:265.69p
Change: 0.19p (0.07%)
You can buy or sell holdings in this fund through an ISA, Lifetime ISA, SIPP or Fund & Share Account
Prices as at 18 October 2019
Sell:265.69p
Buy:265.69p
Change: 0.19p (0.07%)
Prices as at 18 October 2019
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.

Our view on this Fund

This fund does not feature on our Wealth 50 list of what we believe are the best funds in each sector. If a fund is not within our Wealth 50 this is not necessarily a recommendation to sell. However, if you are thinking of adding to your investments we believe Wealth 50 funds are superior alternatives. View funds on the Wealth 50 »

This fund is run by five investors. Three have a specific focus on large, medium-sized or smaller companies, and one invests in companies of any size. Mark Hall oversees the fund, and challenges the other managers on their ideas.

They tend to invest in relatively few companies. This means the performance of each investment can have a meaningful effect on returns. This increases risk, as do the fund's investments in smaller companies.

We prefer to access this team's talent through other UK funds they manage. That's why this fund doesn't feature on the Wealth 50 list of our favourite funds.

Our view on the sector

The UK stock market is home to lots of world-class companies. From international giants to a diverse array of smaller businesses. This provides a rich hunting ground for fund managers in this sector. They all try to grow investors' money over the long term, but each goes about it in a different way. Some focus on larger companies in the FTSE 100 index, others invest in medium-sized or smaller companies, and some have the flexibility to invest in any company, regardless of size. Some aim to match or deliver a return similar to the broader UK stock market. Others have the freedom to try and make as much money as possible for investors and take more risks. That could mean investing in only a small number of companies, for instance. A fund that invests in UK shares is normally the first port of call for UK-based investors. But with such a variety on offer, investors should make sure a fund is right for their circumstances before investing.

Performance Analysis

The fund's performed better than the broader UK stock market since launch. Our analysis suggests performance has been boosted by the managers' ability to select companies with good prospects.

Each manager brings something different to the portfolio which means the fund has the potential to perform well in a variety of environments. There are no guarantees though.

Investment Philosophy

The fund harnesses the experience of five talented fund managers. Each has their own strengths, styles and areas of focus which keeps the fund diversified. There's a limit on how many companies each manager can add to the fund, which means only their best ideas make it in.

Process and Portfolio Construction

Money invested in the fund is equally allocated across four UK fund managers. Colin Morton contributes 10 of his favourite larger companies, Paul Spencer adds 10 of his preferred medium-sized companies and Richard Bullas adds up to 20 of his favourite smaller companies. Ben Russon invests in up to 10 companies of any size. Mark Hall is responsible for the overall monitoring of the fund.

question mark Manager Track Record Based on HL Quantitative Research

  • Franklin UK Managers Focus A Acc
  • Rensburg UK Managers Focus
  • FTSE All-Share TR
FROM: TO:


Fund Track Record

18/10/14 to 18/10/15 18/10/15 to 18/10/16 18/10/16 to 18/10/17 18/10/17 to 18/10/18 18/10/18 to 18/10/19
Annual return 21.94% 6.38% 15.29% -3.39% 6.13%

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.

Fund Management Group Comment

Franklin Templeton was formed in 1992 when Wall Street firm Franklin joined forces with the global investment specialists Templeton. It is one of the world's largest asset management groups, headquartered in San Mateo, California, with offices across the globe. Franklin's strength lies in finding excellent value in US equities and bonds, whereas finding high quality equities at bargain values drives Templeton. In 2011 it completed the purchase of Rensburg Fund Management, which has enhanced Franklin Templeton's range of UK equity funds.

Information about the fund

Fund manager biography

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Manager Name: Colin Morton
Manager start date: 1 September 2006
Manager located in: Leeds

Colin Morton, Lead Manager of the Franklin UK Equity Income Fund and Franklin UK Blue Chip Fund and specialises in large cap UK equity analysis and investment. Mr. Morton joined Franklin Templeton Investments when it acquired Rensburg Fund Management (now Franklin Templeton Fund Management) in January 2011.Colin Morton, Lead Manager of the Franklin UK Equity Income Fund and Franklin UK Blue Chip Fund and specialises in large cap UK equity analysis and investment. Mr. Morton joined Franklin Templeton Investments when it acquired Rensburg Fund Management (now Franklin Templeton Fund Management) in January 2011. Mr. Morton began his career in 1983 as a trainee stockbroker with Wise Speke & Co. He joined Rensburg in 1988 as a private client executive, becoming an investment manager in 1991. He became the manager of Rensburg UK Equity Income Trust in January 1995, manager of the Rensburg UK Blue Chip Growth Trust in September 2000 and has been a joint manager of the Rensburg UK Managers Focus Trust since its launch in September 2006. On the 15 October 2011, all three trusts were merged into newly created sub funds the Franklin Templeton Funds OEIC range and renamed to reflect the Franklin Templeton brand. During his tenure as manager, Franklin UK Equity Income Fund and Franklin UK Blue Chip Fund have held OBSR ratings for at least five consecutive years as at 30 June 2011. Mr. Morton holds an Investment Management Certificate (IMC) and is a Fellow of the Securities Institute (FSI).

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Manager Name: Ben Russon
Manager start date: 16 April 2013
Manager located in: Leeds

Ben Russon is a fund manager based in Leeds as part of Franklin Templeton Fund Management. He is the lead manager on the Franklin UK Select Growth Fund and Co-Manager on the Franklin UK Managers' Focus Fund. Mr. Russon joined the Franklin Templeton UK Equity team during 2013. Prior to this he spent 13 years as a Fund Manager with Newton Investment Management, specialising in UK Equities. He was the lead manager on the Newton UK Opportunities Fund from 2005, alongside associated institutional mandates. Mr. Russon had prior experience at Newton in the research function, specialising in the global food retail sector. Wider responsibilities also included global equity investment with the Newton Osprey Fund. Mr. Russon graduated from the University of Edinburgh with an M.A. (joint honours) in geography and economics. He is a Chartered Financial Analyst (CFA) Charterholder.

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Manager Name: Richard Bullas
Manager start date: 22 June 2012
Manager located in: TBC

Richard Bullas is a portfolio manager at Franklin Templeton Fund Management. He is co-manager on the Franklin UK Smaller Companies Trust and manages the Smaller Companies portion of the Franklin UK Managers? Focus Fund. Richard has worked with the fund management team for over 12 years, joining Franklin Templeton Fund Management via the acquisition of Rensburg Fund Management in 2011. Mr. Bullas joined the team in 2000 as a Trainee Fund Manager, supporting the fund managers on a range of equity unit trusts while studying for his professional investment qualifications (IMC and Chartered MCSI). After 3 years he was appointed Assistant Fund Manager, assisting and reporting to the investment director, specifically on the management of the Franklin UK Smaller Companies Trust and the Franklin UK Manager?s Focus Fund. From 2006 he was made Fund Manager and Associate Director while at Rensburg, co-managing 2 UK Equity Mandates as well deputy fund manager on the Franklin UK Select Growth Trust and Franklin UK Manager?s Focus Fund. Mr. Bullas investment approach focuses heavily on individual company analysis, identifying quality undervalued companies that have the potential for long term outperformance. Richard has covered the UK smaller companies sector for 12 years and has considerable experience researching and analysing smaller companies. Prior to joining Rensburg Fund Management (now Franklin Templeton Fund Management) Mr. Bullas worked at AVIVA Plc as a Market Analyst in the life and pensions department. Prior to that he spent a short time working at a Chartered Accountants, for the Audit Team. Mr. Bullas holds a B.Sc. (Hons) degree in business and management studies from Bradford University School of Management, graduating in 1998. He holds the IMC (Investment Management Certificate) and is a Chartered MCSI (Chartered Institute for Securities and Investment).

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Manager Name: Paul Spencer
Manager start date: 1 September 2006
Manager located in: Leeds

Paul Spencer, Lead Manager of the Franklin UK Mid Cap Fund and joint manager of the Franklin UK Managers' Focus Fund. A member of the Franklin UK Equity Team, he specialises in UK mid-cap equity analysis and investment. Mr. Spencer joined Franklin Templeton Investments when it acquired Rensburg Fund Management (now Franklin Templeton Fund Management) in January 2011. Mr. Spencer started his investment career in 1987, when he joined BWD Rensburg, within the next 8 years Paul progressed through the ranks becoming head of research. In 1991, he assumed responsibility for the BWD UK Smaller Companies Trust, leaving in 1995 to join Granville Davies Limited as a director and Small and Mid Cap analyst. In 1999, Paul joined TD Waterhouse, where he was head of research, specialising in small and mid cap investment analysis. He returned to Rensburg in 2006 to manage the Rensburg UK Mid Cap Growth Trust (now Franklin UK Mid Cap Fund). During his tenure as fund manager of the Franklin UK Mid Cap Fund, Paul has received a number of awards for investment excellence, including the Moneywise Best UK All Companies Fund in 2008, 2009 and 2010, Money Observer Best UK Small/Mid Cap Fund 2009 and Best UK All Companies Fund over three years from Lipper in 2009. Mr. Spencer holds a B.A. (Hons) economics from Nottingham University. He is a Fellow of the Securities Institute (FSI).

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Manager Name: Mark Hall
Manager start date: 1 September 2006
Manager located in: Leeds

Mark Hall is a member of the highly-regarded Franklin UK Equity Team. He specialises in multi-cap UK equity analysis and investment and has been lead manager of the Franklin UK Select Growth Fund since 2001 and joint manager of the Franklin UK Managers' Focus Fund since its launch in 2006. Mark joined Franklin Templeton Investments when it acquired Rensburg Fund Management in January 2011. After training as an accountant, Mr. Hall joined BWD Rensburg in 1988 as a Smaller Companies investment analyst, subsequently managing private client discretionary portfolios. Mark became fund manager of the BWD Equity Growth Trust in 1997, investing in the UK All Companies Sector. In 2001 he became the lead manager of BWD Aggressive Growth Trust, (which was subsequently renamed Rensburg UK Select Growth Trust). In October 2011, the Rensburg unit trust range was merged into subfunds of the Franklin Templeton Funds OEIC and renamed to reflect the Franklin Templeton brand, they kept the same objective, managers and investment process. Under Mr. Halls tenure as manager, Franklin UK Select Growth Fund has held an OBSR Fund Rating for five consecutive years (as at 30 June 2011). Mr. Hall holds a B.A. (Hons) geography with additional economics from Exeter University. He also holds an Investment Management Certificate (IMC) and is a Fellow of the Securities Institute (FSI (Dip)).

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. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through an ISA, Lifetime ISA, SIPP or Fund & Share Account