Morningstar Fund Report  | 23/04/2025Print

TM Redwheel UK Equity Income L Inc

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
TM Redwheel UK Equity Income L Inc
Fund25.0-1.210.121.62.9
+/-Cat7.22.23.413.52.1
+/-B’mrk--2.511.7-2.2
 
Category: UK Equity Income
Category Benchmark: Morningstar UK All Cap TME ...
Key Stats
NAV
22/04/2025		 GBX 121.70
Day Change 0.91%
Morningstar Category™ UK Equity Income
IA (formerly IMA) Sector UK Equity Income
ISIN GB00BG342F97
Fund Size (Mil)
21/04/2022		 GBX 363.00
Share Class Size (Mil)
22/04/2025		 GBP 489.09
Max Initial Charge 5.00%
Ongoing Charge
19/02/2025		  0.59%
Investment Objective: TM Redwheel UK Equity Income L Inc
The Fund aims to deliver a dividend yield in excess of the FTSE All Share Index, whilst providing long term capital growth. The Fund invests at least 80% of its assets in a concentrated range of equities issued by UK companies and equity related securities received through corporate action such as preference shares and rights. These are companies that are incorporated, headquartered or have their principal business activities in the UK. The Fund typically holds investments in 25-45 companies.
Returns
Trailing Returns (GBP)22/04/2025
YTD-0.40
3 Years Annualised9.27
5 Years Annualised17.69
10 Years Annualised-
12 Month Yield 3.60
Dividend Paying Frequency Quarterly
Management
Manager Name
Start Date
Nicholas Purves
04/10/2018
Ian Lance
04/10/2018
Inception Date
04/10/2018

Category Benchmark
Fund BenchmarkMorningstar Benchmark
FTSE AllSh TR GBPMorningstar UK All Cap TME NR GBP
Portfolio Profile for  TM Redwheel UK Equity Income L Inc31/03/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock97.470.0097.47
Bond0.000.000.00
Property0.000.000.00
Cash2.530.002.53
Other0.000.000.00
Top 5 Regions%
United Kingdom81.20
Eurozone7.97
United States7.07
Asia - Developed1.37
Japan1.36
Top 5 Sectors%
Financial Services28.72
Consumer Cyclical16.72
Communication Services16.48
Energy13.90
Industrials7.15
Top 5 HoldingsSector%
Standard Chartered PLCFinancial ServicesFinancial Services5.80
NatWest Group PLCFinancial ServicesFinancial Services5.65
Shell PLCEnergyEnergy5.63
Marks & Spencer Group PLCConsumer CyclicalConsumer Cyclical5.25
BP PLCEnergyEnergy5.14
Increase Decrease New since last portfolio
TM Redwheel UK Equity Income L Inc
Growth Of 1000 (GBP) 31/03/2025
Fund:  TM Redwheel UK Equity Income L Inc
Category:  UK Equity Income
Category Index:  Morningstar UK All Cap TME NR GBP
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 20192020202120222023202431/03
Price Return13.97-10.0225.01-1.2010.1321.562.93
+/- Category-4.982.537.202.243.3813.482.06
+/- Category Index----2.5111.74-2.23
% Rank in Category8436104717135
Trailing Returns (GBP)22/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.91   0.240.30
1 Week1.16   0.210.18
1 Month-5.32   -2.46-2.20
3 Months-3.08   0.11-1.74
6 Months3.09   5.061.43
YTD-0.40   0.54-3.01
1 Year12.52   8.084.60
3 Years Annualised9.27   5.422.71
5 Years Annualised17.69   7.966.62
10 Years Annualised-   --
 
Category: UK Equity Income
Category Index: Morningstar UK All Cap TME NR GBP
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20252.93---
20245.376.853.404.42
20234.80-2.587.160.67
20220.70-5.55-6.4911.09
202117.061.83-0.285.16
2020-31.0311.48-5.5323.89
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearHighAbove Average5 star
5-YearHighHigh5 star
10-Year--Not Rated
OverallHighHigh5 star
 
Category :  UK Equity IncomeClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev14.05 %
3-Yr Mean Return11.63 %
 
3-Yr Sharpe Ratio0.50
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar UK All Cap TME NR GBP  Morningstar UK All Cap TME NR GBP
3-Yr Beta1.121.12
3-Yr Alpha2.662.66
 
Investment Style Details31/03/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 15108-
Market Capitalisation% of Equity
Giant19.59
Large36.78
Medium35.41
Small7.82
Micro0.40
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings8.720.77
Price/Book0.900.56
Price/Sales0.530.59
Price/Cash Flow4.370.61
Dividend-Yield Factor4.731.04
 
Long-Term Projected Earnings Growth10.661.12
Historical Earnings Growth-10.531.56
Sales Growth1.060.18
Cash-Flow Growth-5.08-11.02
Book-Value Growth4.753.08
 
Category: UK Equity Income
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock97.470.0097.47
Bond0.000.000.00
Property0.000.000.00
Cash2.530.002.53
Other0.000.000.00
World Regions31/03/2025
 % of EquityRelative to Category
United States7.072.73
Canada1.038.71
Latin America0.000.00
United Kingdom81.200.88
Eurozone7.972.38
Europe - ex Euro0.000.00
Europe - Emerging0.000.00
Africa0.000.00
Middle East0.000.00
Japan1.3610.00
Australasia0.000.00
Asia - Developed1.376.08
Asia - Emerging0.000.00
 
Category: UK Equity Income
Sector Weightings31/03/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials6.761.13
Consumer CyclicalConsumer Cyclical16.721.74
Financial ServicesFinancial Services28.721.14
Consumer DefensiveConsumer Defensive0.780.06
HealthcareHealthcare4.320.50
UtilitiesUtilities3.450.70
Communication ServicesCommunication Services16.482.73
EnergyEnergy13.901.86
IndustrialsIndustrials7.150.55
TechnologyTechnology1.710.76
 
Category: UK Equity Income
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings35
Total Number of Bond Holdings0
Assets in Top 10 Holdings49.07
NameSectorCountry% of Assets
Standard Chartered PLC103United Kingdom5.80
NatWest Group PLC103United Kingdom5.65
Shell PLC309United Kingdom5.63
Marks & Spencer Group PLC102United Kingdom5.25
BP PLC309United Kingdom5.14
Barclays PLC103United Kingdom4.97
Pearson PLC308United Kingdom4.44
GSK PLC206United Kingdom4.21
Aviva PLC103United Kingdom4.02
ITV PLC308United Kingdom3.95
 
Increase Decrease New since last portfolio
Category: UK Equity Income
 
Management
Name of CompanyRedwheel Asset Management LLP
Phone+44 (0) 207 227 6000
Website -
AddressVerde, 10 Bressenden Place
 London   SW1E 5DH
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date04/10/2018
Fund Advisor(s)
Redwheel Asset Management LLP
Fund ManagerNicholas Purves
Manager Start Date04/10/2018
 
Biography
Nick joined Redwheel in August 2010 to build the Redwheel Value & Income Team together with Ian Lance. He started working with Ian at Schroders in 2007, initially starting as an analyst before moving in to portfolio management where he managed both Institutional Specialist Value funds and the Schroder Income Fund and Income Maximiser Fund together with Ian. During his time at Schroders, Nick was Citywire AAA, and Nick and Ian’s Income fund was Morningstar 5 star rated, AA rated by OBSR, and won the Moneywise award in 2009 in the UK Equity Income and Equity Income and Growth sectors. Nick graduated from Bristol University in 1989 and qualified as a Chartered Accountant in 1993 with KPMG.
Fund ManagerIan Lance
Manager Start Date04/10/2018
 
Biography
Ian joined Redwheel in August 2010 to build the Redwheel Value & Income Team together with Nick Purves. He started working with Nick at Schroders in 2007 before joining Redwheel in August 2010. Whilst at Schroders he was a senior portfolio manager managing the Institutional Specialist Value Funds, the Schroder Income Fund and Income Maximiser Fund together with Nick.During his time at Schroders, Ian was Citywire AAA rated, and Nick and Ian’s Income fund was Morningstar 5 star rated, AA rated by OBSR and won the Moneywise award in 2009 in the UK Equity Income and Equity Income and Growth sectors. Previously Ian was the Head of European Equities and Director of Research at Citigroup Asset Management and Head of Global Research at Gartmore. Ian graduated from Loughborough University in 1988.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.45%
Ongoing Charge0.59%
Purchase Details
Minimum Investments
Initial250000000  GBP
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes