Morningstar Fund Report  | 13/04/2025Print

Ninety One UK Equity Income A Acc

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Ninety One UK Equity Income A Acc
Fund12.7-3.46.99.0-2.3
+/-Cat-5.10.00.11.0-3.1
+/-B’mrk---0.8-0.8-7.4
 
Category: UK Equity Income
Category Benchmark: Morningstar UK All Cap TME ...
Key Stats
NAV
11/04/2025		 GBX 151.43
Day Change -0.68%
Morningstar Category™ UK Equity Income
IA (formerly IMA) Sector UK All Companies
ISIN GB00BV9G3S43
Fund Size (Mil)
11/04/2025		 GBP 58.83
Share Class Size (Mil)
11/04/2025		 GBP 0.53
Max Initial Charge -
Ongoing Charge
14/02/2025		  1.60%
Investment Objective: Ninety One UK Equity Income A Acc
The Fund aims to provide income with the opportunity for capital growth over at least 5 years. The Fund invests primarily (at least two-thirds) in the shares of UK companies (those incorporated in, domiciled in, or that have significant economic exposure to, the UK). The Fund focuses on investing in companies believed to be of high quality, which typically provide reliable dividend growth. Investment opportunities are identified using in-depth analysis and research on individual companies.
Returns
Trailing Returns (GBP)11/04/2025
YTD-5.43
3 Years Annualised3.67
5 Years Annualised6.11
10 Years Annualised4.06
12 Month Yield 1.31
Management
Manager Name
Start Date
Ben Needham
09/08/2019
Anna Farmbrough
03/04/2023
Inception Date
27/02/2015

Category Benchmark
Fund BenchmarkMorningstar Benchmark
FTSE AllSh TR GBPMorningstar UK All Cap TME NR GBP
Portfolio Profile for  Ninety One UK Equity Income A Acc28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock99.380.0099.38
Bond0.000.000.00
Property0.000.000.00
Cash0.620.000.62
Other0.000.000.00
Top 5 Regions%
United Kingdom90.30
Eurozone6.12
United States3.57
Canada0.00
Latin America0.00
Top 5 Sectors%
Consumer Defensive35.99
Technology14.32
Industrials11.57
Financial Services11.24
Healthcare9.22
Top 5 HoldingsSector%
Diageo PLCConsumer DefensiveConsumer Defensive9.13
Reckitt Benckiser Group PLCConsumer DefensiveConsumer Defensive6.74
Unilever PLCConsumer DefensiveConsumer Defensive5.56
British American Tobacco PLCConsumer DefensiveConsumer Defensive5.09
Amadeus IT Group SATechnologyTechnology4.42
Increase Decrease New since last portfolio
Ninety One UK Equity Income A Acc
Growth Of 1000 (GBP) 31/03/2025
Fund:  Ninety One UK Equity Income A Acc
Category:  UK Equity Income
Category Index:  Morningstar UK All Cap TME NR GBP
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-8.2221.91-5.6312.73-3.446.879.04-2.28
+/- Category2.342.976.93-5.080.000.110.96-3.15
+/- Category Index------0.75-0.78-7.44
% Rank in Category2433109564584183
Trailing Returns (GBP)11/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.68   -0.01-1.26
1 Week-0.64   0.380.21
1 Month-5.27   0.910.53
3 Months-5.49   -1.66-3.16
6 Months-2.89   2.44-0.66
YTD-5.43   -0.54-3.42
1 Year5.70   5.201.51
3 Years Annualised3.67   1.35-0.88
5 Years Annualised6.11   -2.47-3.53
10 Years Annualised4.06   0.30-0.77
 
Category: UK Equity Income
Category Index: Morningstar UK All Cap TME NR GBP
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-2.28---
20240.361.686.360.46
20233.78-0.79-0.193.99
2022-5.08-5.31-0.127.56
20212.046.58-0.534.21
2020-18.3912.670.212.42
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageBelow Average3 star
5-YearBelow AverageLow2 star
10-YearAverageLow3 star
Overall*AverageLow3 star
 
Category :  UK Equity IncomeClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev10.81 %
3-Yr Mean Return5.62 %
 
3-Yr Sharpe Ratio0.14
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar UK All Cap TME NR GBP  Morningstar UK SMID Cap TME NR GBP
3-Yr Beta0.780.58
3-Yr Alpha-1.571.32
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 14052-
Market Capitalisation% of Equity
Giant17.87
Large30.06
Medium38.88
Small11.91
Micro1.28
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings17.381.50
Price/Book3.171.96
Price/Sales1.592.04
Price/Cash Flow12.881.75
Dividend-Yield Factor2.860.65
 
Long-Term Projected Earnings Growth7.970.89
Historical Earnings Growth-3.140.65
Sales Growth4.570.90
Cash-Flow Growth-2.08-2.59
Book-Value Growth1.060.56
 
Category: UK Equity Income
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock99.380.0099.38
Bond0.000.000.00
Property0.000.000.00
Cash0.620.000.62
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States3.571.40
Canada0.000.00
Latin America0.000.00
United Kingdom90.300.98
Eurozone6.121.77
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 Materials5.240.87
Consumer CyclicalConsumer Cyclical8.900.91
Financial ServicesFinancial Services11.240.45
Consumer DefensiveConsumer Defensive35.992.72
HealthcareHealthcare9.221.09
EnergyEnergy3.530.48
IndustrialsIndustrials11.570.87
TechnologyTechnology14.326.09
 
Category: UK Equity Income
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings33
Total Number of Bond Holdings0
Assets in Top 10 Holdings49.59
NameSectorCountry% of Assets
Diageo PLC205United Kingdom9.13
Reckitt Benckiser Group PLC205United Kingdom6.74
Unilever PLC205United Kingdom5.56
British American Tobacco PLC205United Kingdom5.09
Amadeus IT Group SA311Spain4.42
Wise PLC Class A311United Kingdom3.97
Wetherspoon (J D) PLC102United Kingdom3.89
Rentokil Initial PLC310United Kingdom3.73
AJ Bell PLC103United Kingdom3.55
DCC PLC309United Kingdom3.51
 
Increase Decrease New since last portfolio
Category: UK Equity Income
 
Management
Name of CompanyNinety One Fund Managers UK Limited
Phone+44-2039382000
Websitewww.ninetyone.com
Address55 Gresham Street, London EC2V 7EL
 London   EC2V 7EL
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date27/02/2015
Fund Advisor(s)
Ninety One UK Limited
Fund ManagerBen Needham
Manager Start Date09/08/2019
 
Biography
Ben is a portfolio manager in Ninety One’s Quality investment team, based in London. He is co-portfolio manager of the UK Equity Income and UK Alpha strategies. In addition, he is responsible for UK equity idea generation and research. Prior to joining the firm, Ben was a Pan European analyst at Threadneedle and, prior to that, a UK analyst at Aviva Investors. Ben graduated from the University of Bath with a BSc Honours first class degree in Business Administration. In addition, Ben has passed Level III of the CFA® Programme.
Fund ManagerAnna Farmbrough
Manager Start Date03/04/2023
 
Biography
Anna is a portfolio manager in Ninety One’s Quality investment team, based in London. She is co-portfolio manager of the UK Alpha and UK Equity Income strategies. In addition, she is responsible for UK equity idea generation and research. Prior to joining the firm, Anna was a UK equity analyst at Threadneedle and, prior to that, a UK equity analyst at Schroders. Anna graduated from the University of Durham with a BA degree in History (with Honours). Anna has passed Level III of the CFA® Programme.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.50%
Ongoing Charge1.60%
Purchase Details
Minimum Investments
Initial1000  GBP
Additional500  GBP
Savings100  GBP
Tax Free Savings Schemes
ISAsYes