Marlborough UK Micro-Cap Growth Inclusive - Class A - Accumulation (GBP)

Sell:995.24p Buy:995.24p Change:

3.52p (0.35%)

Prices as at 5 March 2021

Sell:995.24p

Buy:995.24p

Change:

3.52p (0.35%)

You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account

Prices as at 5 March 2021

Sell:995.24p

Buy:995.24p

Change:

3.52p (0.35%)

Prices as at 5 March 2021

You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and 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:	5.00%
Initial saving from HL:	5.00%
HL dealing charge:	Free
Net initial charge:	0.00%

How initial savings affect the buy price

Annual charges

Performance fee:

Ongoing charge (OCF/TER):

1.53%

Ongoing saving from HL:

0.75% i

Net ongoing charge:

0.78%

There are other unit types of this fund available:

Class P - Accumulation (GBP)

(Net ongoing charge 0.69%)

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 0.75%, of which 0.75% 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:	0.75%	0.75%	0.75%	0.75%
Loyalty bonus:	0.75%	0.75%	0.75%	0.75%
Tax on loyalty bonus:	0.00%	0.15%	0.3%	0.3375%
Value of ongoing saving to you:	0.75%	0.6%	0.45%	0.4125%

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:	Inclusive
Manager:	Multiple Multiple
Fund launch date:	4 October 2004
Launch price:	£1.00
Sector:	UK Smaller Companies
Fund size:	£1,359 million
Number of holdings:	177
Fund type:	Unit Trust
Accumulation/income:	Accumulation
Dealing frequency:	Daily
Valuation point:	12:00
Trustee:	HSBC Bank plc
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

	05/03/16 to 05/03/17	05/03/17 to 05/03/18	05/03/18 to 05/03/19	05/03/19 to 05/03/20	05/03/20 to 05/03/21
Annual return	26.70%	21.28%	-4.64%	9.47%	34.13%

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.

View fund chart

Our view on this fund

HL Research

After several decades in the investment industry, Giles Hargreave recently stepped back from day-to-day management of this fund. Whilst no longer at the helm, Hargreave is still involved with the fund, taking up sector analysis responsibilities and offering guidance and knowledge to the next generation of managers.

Long-term performance has been...

Our latest article

Dominic Rowles | 27 January 2021

In this fund update, Investment Analyst Dominic Rowles shares our analysis on the manager, process, culture, cost and performance of Marlborough UK Micro-Cap Growth fund.

Fund Objective

The aim of the Fund is to increase the value of your investment by more than any increase in the FTSE SmallCap Index (ex-Investment Companies), after any charges have been taken out of the Fund, over any 5 year period. However, there is no certainty this will be achieved.

Income Details

Income paid:	Annually
Type of payment:	Dividend
Ex-dividend date:	31 July 2021
Payment date:	30 September 2021⁴

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. There is currently no yield information available for this fund.

Security	Weight
IMIMOBILE	3.06%
S4 CAPITAL	2.85%
SCA INVESTMENTS LTD	2.69%
IMPAX ASSET MANAGEMENT GROUP	2.56%
CERES POWER HLDGS	2.34%
DISCOVERIE GROUP	1.99%
DRAPER ESPRIT	1.94%
AUGEAN	1.84%
GAMES WORKSHOP GROUP	1.78%
FOCUSRITE	1.69%

Sector	Weight
Software & Computer Services	15.95%
Investment Banking & Brokerage Services	11.77%
Industrial Support Services	9.61%
Media	5.96%
Travel & Leisure	5.09%
Pharmaceuticals & Biotechnology	4.71%
Precious Metals & Mining	4.32%
Non-Classified	3.76%
Technology Hardware & Equipment	3.57%
Leisure Goods	3.48%

Country	Weight
United Kingdom	88.81%
Non-Classified	4.68%
United States	2.37%
Canada	1.22%
Australia	0.87%
Ireland	0.78%
Israel	0.49%
Cash and Equiv.	0.43%
Singapore	0.36%

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 5 March 2021. Data provided by Funds Library, correct as at 1 February 2021.

You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and 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.

Options

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Guy Feld
Manager start date	01/02/2012
Manager located in	London

Eustace Santa Barbara
Manager start date	01/01/2021
Manager located in	London