Morningstar Fund Report  | 02/04/2025Print

FTF Martin Currie UK Equity Income Fund W (Acc)

Performance History28/02/2025
Growth of 1,000 (GBP) Advanced Graph
FTF Martin Currie UK Equity Income Fund W (Acc)
Fund17.92.36.46.55.2
+/-Cat0.15.8-0.4-1.61.7
+/-B’mrk---1.2-3.3-2.2
 
Category: UK Equity Income
Category Benchmark: Morningstar UK All Cap TME ...
Key Stats
NAV
01/04/2025		 GBP 2.92
Day Change 0.97%
Morningstar Category™ UK Equity Income
IA (formerly IMA) Sector UK Equity Income
ISIN GB00B7DRD638
Fund Size (Mil)
29/07/2022		 USD 1107.10
Share Class Size (Mil)
01/04/2025		 GBP 417.05
Max Initial Charge -
Ongoing Charge
06/02/2025		  0.52%
Morningstar Research
Analyst Report03/10/2024
Henry Ince, Analyst
Morningstar, Inc

The fund was placed Under Review following the announcement of lead manager Colin Morton's impending retirement. Following the review, we retain our positive view on the team but believe that Morton’s departure presents a significant loss of...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent23
Process24
Performance
Price
Investment Objective: FTF Martin Currie UK Equity Income Fund W (Acc)
The Fund aims to generate an income that is higher than that of the FTSE All-Share Index and increase in value through investment growth, over periods of five years, after all fees and costs are deducted. The Fund invests at least two thirds (but typically significantly more) in the shares of companies listed on the London Stock Exchange. These companies are incorporated/domiciled in the UK or which have significant business operations in the UK. Typically, the number of holdings in the Fund will vary between 40 to 60 company shares and most of these will be the shares of large (such as those making up the FTSE 100 Index) companies. The Investment Manager does not intend to invest in every company in the FTSE All-Share Index and have the freedom to invest up to 10% of the Fund’s assets outside of it.
Returns
Trailing Returns (GBP)01/04/2025
YTD4.88
3 Years Annualised6.02
5 Years Annualised12.02
10 Years Annualised6.30
12 Month Yield 4.15
Management
Manager Name
Start Date
Ben Russon
01/09/2013
Joanne Rands
01/03/2022
Click here to see others
Inception Date
31/05/2012

Category Benchmark
Fund BenchmarkMorningstar Benchmark
FTSE AllSh TR GBPMorningstar UK All Cap TME NR GBP
Portfolio Profile for  FTF Martin Currie UK Equity Income Fund W (Acc)28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock98.460.0098.46
Bond0.000.000.00
Property0.000.000.00
Cash1.540.001.54
Other0.000.000.00
Top 5 Regions%
United Kingdom98.59
United States1.41
Canada0.00
Latin America0.00
Eurozone0.00
Top 5 Sectors%
Financial Services21.23
Consumer Defensive20.34
Industrials12.90
Energy11.23
Healthcare9.96
Top 5 HoldingsSector%
Shell PLCEnergyEnergy4.98
Unilever PLCConsumer DefensiveConsumer Defensive4.79
AstraZeneca PLCHealthcareHealthcare4.63
BP PLCEnergyEnergy4.61
British American Tobacco PLCConsumer DefensiveConsumer Defensive4.27
Increase Decrease New since last portfolio
FTF Martin Currie UK Equity Income Fund W (Acc)
Growth Of 1000 (GBP) 28/02/2025
Fund:  FTF Martin Currie UK Equity Income Fund W (Acc)
Category:  UK Equity Income
Category Index:  Morningstar UK All Cap TME NR GBP
Growth of 1,000 GBP
Annual Returns (GBP)28/02/2025
 201820192020202120222023202428/02
Price Return-8.8723.67-11.4217.882.326.396.505.17
+/- Category1.694.731.140.075.76-0.37-1.581.73
+/- Category Index------1.24-3.32-2.24
% Rank in Category3023474223636438
Trailing Returns (GBP)01/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.97   2.661.95
1 Week-0.81   0.32-0.23
1 Month-0.27   2.291.82
3 Months4.88   4.12-0.27
6 Months2.82   3.70-2.23
YTD4.88   4.12-0.27
1 Year10.14   4.02-1.52
3 Years Annualised6.02   1.91-1.53
5 Years Annualised12.02   1.980.07
10 Years Annualised6.30   2.090.23
 
Category: UK Equity Income
Category Index: Morningstar UK All Cap TME NR GBP
Quarterly Returns (GBP)28/02/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20241.413.813.01-1.80
20233.74-3.372.443.61
20222.35-4.71-5.2510.72
20215.275.181.834.55
2020-26.1611.51-4.4412.57
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageAverage3 star
5-YearAverageBelow Average3 star
10-YearAbove AverageAverage4 star
Overall*Above AverageAverage4 star
 
Category :  UK Equity IncomeClick here to see our Methodology
Volatility Measurements28/02/2025
 
3-Yr Std Dev11.51 %
3-Yr Mean Return7.58 %
 
3-Yr Sharpe Ratio0.30
 
Modern Portfolio Statistics28/02/202528/02/2025
 Standard IndexBest Fit Index
 Morningstar UK All Cap TME NR GBP  Morningstar UK All Cap TME NR GBP
3-Yr Beta0.990.99
3-Yr Alpha-1.68-1.68
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 23205-
Market Capitalisation% of Equity
Giant36.72
Large25.86
Medium29.38
Small8.04
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings11.901.03
Price/Book1.831.13
Price/Sales0.911.17
Price/Cash Flow9.311.27
Dividend-Yield Factor4.431.00
 
Long-Term Projected Earnings Growth7.770.86
Historical Earnings Growth-7.431.54
Sales Growth5.861.15
Cash-Flow Growth-0.10-0.12
Book-Value Growth1.680.90
 
Category: UK Equity Income
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock98.460.0098.46
Bond0.000.000.00
Property0.000.000.00
Cash1.540.001.54
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States1.410.55
Canada0.000.00
Latin America0.000.00
United Kingdom98.591.07
Eurozone0.000.00
Europe - ex Euro0.000.00
Europe - Emerging0.00-
Africa0.000.00
Middle East0.000.00
Japan0.000.00
Australasia0.000.00
Asia - Developed0.000.00
Asia - Emerging0.000.00
 
Category: UK Equity Income
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials6.171.02
Consumer CyclicalConsumer Cyclical5.930.60
Financial ServicesFinancial Services21.230.85
Real EstateReal Estate3.050.87
Consumer DefensiveConsumer Defensive20.341.54
HealthcareHealthcare9.961.17
UtilitiesUtilities6.611.41
Communication ServicesCommunication Services2.580.42
EnergyEnergy11.231.54
IndustrialsIndustrials12.900.97
 
Category: UK Equity Income
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings49
Total Number of Bond Holdings0
Assets in Top 10 Holdings39.83
NameSectorCountry% of Assets
Shell PLC309United Kingdom4.98
Unilever PLC205United Kingdom4.79
AstraZeneca PLC206United Kingdom4.63
BP PLC309United Kingdom4.61
British American Tobacco PLC205United Kingdom4.27
National Grid PLC207United Kingdom3.59
RELX PLC310United Kingdom3.32
Barclays PLC103United Kingdom3.25
GSK PLC206United Kingdom3.22
HSBC Holdings PLC103United Kingdom3.18
 
Increase Decrease New since last portfolio
Category: UK Equity Income
 
Management
Name of CompanyFranklin Templeton Fund Management Ltd
Phone-
Website -
Address-
 London   WC2N 6HT
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date31/05/2012
Fund Advisor(s)
Martin Currie Investment Management Ltd
Fund ManagerBen Russon
Manager Start Date01/09/2013
 
Biography
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.
Fund ManagerJoanne Rands
Manager Start Date01/03/2022
Education
University of Nottingham, B.S.
 
Biography
Jo is working alongside Julian Chillingworth and Alexandra Jackson. She joined Rathbones in June 2014 from Peel Hunt, where she worked in UK equity sales. Jo has over 15 years’ analytical experience, covering UK small and mid-cap stocks, on both the 'buy and sell' sides, and across several organisations. She has also worked as a Fund Manager at Hermes, managing UK small and mid caps and assisted in managing UK equity funds at HSBC. Jo holds the Securities Institute Diploma and is a Fellow of the Securities Institute. She graduated from the University of Nottingham with a 1st Class BSc Hons degree in Geography.
Fund ManagerWill Bradwell
Manager Start Date01/10/2020
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.45%
Ongoing Charge0.52%
Purchase Details
Minimum Investments
Initial1000  GBP
Additional250  GBP
Savings-
Tax Free Savings Schemes
ISAsYes