Marlborough Multi Cap Income Class P - Accumulation (GBP)

Sell:214.19p Buy:214.19p Change:

0.26p (0.12%)

Prices as at 20 September 2019

Sell:214.19p

Buy:214.19p

Change:

0.26p (0.12%)

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

Prices as at 20 September 2019

Sell:214.19p

Buy:214.19p

Change:

0.26p (0.12%)

Prices as at 20 September 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.

Also available as income units

Charges and Savings

Initial charges
Initial charge:	1.00%
Initial saving from HL:	1.00%
HL dealing charge:	Free
Net initial charge:	0.00%

How initial savings affect the buy price

Annual charges

Performance fee:

Ongoing charge (OCF/TER):

0.78%

Ongoing saving from HL:

0.19% i

Net ongoing charge:

0.59%

There are other unit types of this fund available:

Inclusive - Class A - Income (GBP)	(Net ongoing charge 0.78%)
Inclusive - Class A - Accumulation (GBP)	(Net ongoing charge 0.78%)
Class P - Income (GBP)	(Net ongoing charge 0.59%)

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 0.19%, of which 0.19% 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:	0.19%	0.19%	0.19%	0.19%
Loyalty bonus:	0.19%	0.19%	0.19%	0.19%
Tax on loyalty bonus:	0.00%	0.038%	0.076%	0.0855%
Value of ongoing saving to you:	0.19%	0.152%	0.114%	0.1045%

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:	Siddarth Chand Lall Siddarth Chand Lall
Fund launch date:	1 July 2011
Sector:	UK Equity Income
Fund size:	£1,496 million
Number of holdings:	117
Fund type:	OEIC
Accumulation/income:	Accumulation
Dealing frequency:	Daily
Valuation point:	12:00
Trustee:	HSBC Bank plc
Minimum investment:	£100.00
Charges deducted from:	Capital
Available in a regular savings plan:	Yes
Minimum regular savings value:	£25.00

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Performance

	20/09/14 to 20/09/15	20/09/15 to 20/09/16	20/09/16 to 20/09/17	20/09/17 to 20/09/18	20/09/18 to 20/09/19
Annual return	14.17%	0.11%	11.31%	5.71%	-0.90%

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

Siddarth Chand Lall invests differently from most other equity income fund managers. He likes to find income opportunities among higher-risk small and mid-sized companies. They offer greater potential for growth than larger companies, which normally make up the bulk of most income-focused funds. We like the diversification this offers an...

Our latest article

Kate Marshall | 9 November 2018

We like that this fund does something different to a lot of other income funds. In our latest update you can find out more about the fund following a recent meeting with Siddarth Chand Lall, the fund's manager.

Fund Objective

The aim of the Fund is to provide income, that is, money paid out from an investment as dividends from shares, as well as to deliver capital growth, that is to increase the value of your investment. It is recommended that the Fund is held for a minimum of 5 years.

Income Details

Historic yield :	4.58%
Income paid:	Bi-annually
Type of payment:	Dividend
Ex-dividend date:	31 July 2019 31 January 2020
Payment date:	30 September 2019⁴ 31 March 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 1 August 2019.

Security	Weight
BIG YELLOW GROUP	3.03%
POLAR CAPITAL HLDGS	2.75%
INTERMEDIATE CAPITAL GROUP	2.65%
PHOENIX GROUP HLDGS	2.53%
PARAGON BANKING GROUP	2.45%
BCA MARKETPLACE	2.41%
SMITH(DS)	2.37%
CINEWORLD GROUP	2.22%
PRINCESS PRIVATE EQUITY HLDGS	2.21%
TATE & LYLE	1.95%

Sector	Weight
Investment Banking & Brokerage Services	9.01%
Real Estate Investment Trusts	8.55%
Non-Renewable Energy	6.46%
Travel & Leisure	5.92%
Life Insurance	5.75%
Industrial Support Services	5.48%
Construction & Materials	5.44%
Industrial Metals & Mining	5.02%
Household Goods & Home Construction	4.56%
Finance & Credit Services	3.62%

Country	Weight
United Kingdom	87.57%
Direct Property and REITs	3.62%
Non-Classified	3.46%
Cash and Equiv.	1.17%
France	1.17%
Netherlands	1.16%
Ireland	0.80%
Norway	0.47%
United States	0.40%
Sweden	0.18%

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 20 September 2019. Data provided by Funds Library, correct as at 2 September 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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Siddarth Chand Lall
Manager start date	01/07/2011
Manager located in	London