Morningstar Fund Report  | 07/04/2025Print

Man UK ICVC - Man Undervalued Assets Fund Professional Accumulation Shares (Class C)

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Man UK ICVC - Man Undervalued Assets Fund Professional Accumulation Shares (Class C)
Fund15.72.816.210.31.5
+/-Cat-0.614.58.22.52.1
+/-B’mrk--8.60.5-3.7
 
Category: UK Flex-Cap Equity
Category Benchmark: Morningstar UK All Cap TME ...
Key Stats
NAV
07/04/2025		 GBX 203.90
Day Change -3.50%
Morningstar Category™ UK Flex-Cap Equity
IA (formerly IMA) Sector UK All Companies
ISIN GB00BFH3NC99
Fund Size (Mil)
04/04/2025		 GBP 1301.75
Share Class Size (Mil)
04/04/2025		 GBP 777.77
Max Initial Charge -
Ongoing Charge
14/02/2025		  0.90%
Morningstar Research
Analyst Report14/05/2024
Daniel Nilsson, Analyst
Morningstar, Inc

The disciplined application of a solid, well-formed investment process by capable portfolio managers makes Man GLG Undervalued Assets a strong proposition. All share classes therefore retain a Morningstar Analyst Rating of Silver. It has been...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent23
Process25
Performance
Price
Investment Objective: Man UK ICVC - Man Undervalued Assets Fund Professional Accumulation Shares (Class C)
The objective of the Fund is to outperform (net of fees) the FTSE All-Share Total Return (NDTR) Index over the long-term (over 5 year rolling periods). To achieve the objective the Fund will invest at least 80% of its assets, directly or indirectly (such proportion to be determined by the Investment Adviser), in UK equities, that is, equities of: (i) companies that have their registered office in the UK; (ii) companies that do not have their registered office in the UK but carry out a predominant proportion of their business activity in the UK market; and/or (iii) companies whose equities are listed on a UK stock exchange.
Returns
Trailing Returns (GBP)07/04/2025
YTD-8.32
3 Years Annualised6.67
5 Years Annualised11.41
10 Years Annualised5.63
12 Month Yield 3.55
Management
Manager Name
Start Date
Henry Dixon
15/11/2013
Jack Barrat
15/11/2013
Inception Date
15/11/2013

Category Benchmark
Fund BenchmarkMorningstar Benchmark
FTSE AllSh TR GBPMorningstar UK All Cap TME NR GBP
Portfolio Profile for  Man UK ICVC - Man Undervalued Assets Fund Professional Accumulation Shares (Class C)28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock96.120.0096.12
Bond0.000.000.00
Property0.000.000.00
Cash7.675.592.08
Other1.800.001.80
Top 5 Regions%
United Kingdom92.63
Eurozone7.37
United States0.00
Canada0.00
Latin America0.00
Top 5 Sectors%
Financial Services25.90
Basic Materials15.29
Industrials13.90
Energy13.37
Consumer Cyclical12.10
Top 5 HoldingsSector%
Shell PLCEnergyEnergy6.46
GSK PLCHealthcareHealthcare5.91
Rio Tinto PLC Registered SharesBasic MaterialsBasic Materials4.57
Barclays PLCFinancial ServicesFinancial Services4.45
BP PLCEnergyEnergy3.90
Increase Decrease New since last portfolio
Man UK ICVC - Man Undervalued Assets Fund Professional Accumulation Shares (Class C)
Growth Of 1000 (GBP) 31/03/2025
Fund:  Man UK ICVC - Man Undervalued Assets Fund Professional Accumulation Shares (Class C)
Category:  UK Flex-Cap Equity
Category Index:  Morningstar UK All Cap TME NR GBP
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-11.5019.33-15.9715.712.8516.2010.321.48
+/- Category0.68-4.42-10.95-0.6314.538.202.462.06
+/- Category Index-----8.570.49-3.67
% Rank in Category45829553352524
Trailing Returns (GBP)07/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-3.50   0.631.43
1 Week-9.66   -2.98-2.72
1 Month-10.92   -2.75-3.52
3 Months-7.78   -2.09-6.11
6 Months-8.11   -3.09-6.42
YTD-8.32   -2.93-7.15
1 Year-3.32   -3.00-8.00
3 Years Annualised6.67   4.911.54
5 Years Annualised11.41   1.45-0.34
10 Years Annualised5.63   1.370.33
 
Category: UK Flex-Cap Equity
Category Index: Morningstar UK All Cap TME NR GBP
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20251.48---
20244.562.802.490.14
20232.071.415.796.11
2022-0.36-5.95-3.9814.30
20217.273.642.841.20
2020-34.4712.14-9.3326.12
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearHighAbove Average5 star
5-YearAbove AverageAbove Average4 star
10-YearHighAbove Average4 star
OverallHighAbove Average4 star
 
Category :  UK Flex-Cap EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev14.62 %
3-Yr Mean Return11.47 %
 
3-Yr Sharpe Ratio0.47
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar UK All Cap TME NR GBP  Morningstar UK Small Cap TME NR GBP
3-Yr Beta1.150.78
3-Yr Alpha2.3910.21
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 8282-
Market Capitalisation% of Equity
Giant26.69
Large12.17
Medium27.56
Small33.58
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings10.070.83
Price/Book1.170.70
Price/Sales0.770.80
Price/Cash Flow7.670.94
Dividend-Yield Factor4.301.22
 
Long-Term Projected Earnings Growth9.250.99
Historical Earnings Growth-3.9917.08
Sales Growth3.800.85
Cash-Flow Growth-10.33-7.44
Book-Value Growth4.521.51
 
Category: UK Flex-Cap Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock96.120.0096.12
Bond0.000.000.00
Property0.000.000.00
Cash7.675.592.08
Other1.800.001.80
World Regions28/02/2025
 % of EquityRelative to Category
United States0.000.00
Canada0.000.00
Latin America0.000.00
United Kingdom92.630.99
Eurozone7.372.65
Europe - ex Euro0.000.00
Europe - Emerging0.000.00
Africa0.000.00
Middle East0.000.00
Japan0.000.00
Australasia0.000.00
Asia - Developed0.000.00
Asia - Emerging0.000.00
 
Category: UK Flex-Cap Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials15.293.11
Consumer CyclicalConsumer Cyclical12.100.93
Financial ServicesFinancial Services25.901.11
Real EstateReal Estate6.852.85
Consumer DefensiveConsumer Defensive1.850.16
HealthcareHealthcare7.880.97
UtilitiesUtilities2.850.93
EnergyEnergy13.371.99
IndustrialsIndustrials13.900.80
 
Category: UK Flex-Cap Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings51
Total Number of Bond Holdings0
Assets in Top 10 Holdings41.81
NameSectorCountry% of Assets
Shell PLC309United Kingdom6.46
GSK PLC206United Kingdom5.91
Rio Tinto PLC Registered Shares101United Kingdom4.57
Barclays PLC103United Kingdom4.45
BP PLC309United Kingdom3.90
HSBC Holdings PLC103United Kingdom3.69
Lancashire Holdings Ltd103United Kingdom3.41
Breedon Group PLC101United Kingdom3.18
Grafton Group PLC Units310United Kingdom3.16
Barratt Redrow PLC102United Kingdom3.07
 
Increase Decrease New since last portfolio
Category: UK Flex-Cap Equity
 
Management
Name of CompanyMan Fund Management UK Limited
Phone-
Websitewww.man.com
AddressRiverbank House, 2 Swan Lane, London EC4R 3AD
 London   -
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date15/11/2013
Fund Advisor(s)
GLG Partners LP
Fund ManagerHenry Dixon
Manager Start Date15/11/2013
 
Biography
Henry Dixon is a Portfolio Manager in the UK Equities team at Man Group.Prior to joining Man Group in 2013, Henry was a portfolio manager and Founder of Matterley where he ran their flagship fund of the same strategy. Prior to that he worked at New Star, and The Family Charities Ethical Trust.Henry has over 15 years' experience in equity investment management.Source and Copyright: Citywire. Henry Dixon is A rated by Citywire for his rolling 3 year risk-adjusted performance, for the period 01 February 2022 to 31 January 2025.
Fund ManagerJack Barrat
Manager Start Date15/11/2013
 
Biography
Jack Barrat is a portfolio manager at Man Group, focusing on UK equities.He joined Man GLG in October 2013 from Matterley. Before that, he worked at UBS for four years.Jack holds a First Class degree in Politics and History from Cambridge University. He is also a CFA charterholder.Source and Copyright: Citywire. Jack Barrat is A rated by Citywire for his rolling 3 year risk-adjusted performance, for the period 01 February 2022 to 31 January 2025.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.75%
Ongoing Charge0.90%
Purchase Details
Minimum Investments
Initial500000  GBP
Additional1000  GBP
Savings-
Tax Free Savings Schemes
ISAsYes