Morningstar Fund Report  | 10/04/2025Print

Ninety One American Franchise Fund A Acc GBP

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Ninety One American Franchise Fund A Acc GBP
Fund28.3-14.224.49.0-7.8
+/-Cat6.47.3-2.3-16.32.7
+/-B’mrk1.09.0-7.6-26.24.4
 
Category: US Large-Cap Growth Equity
Category Benchmark: Morningstar US LM Brd Growt...
Key Stats
NAV
09/04/2025		 GBX 723.16
Day Change -3.52%
Morningstar Category™ US Large-Cap Growth Equity
IA (formerly IMA) Sector North America
ISIN GB0032033341
Fund Size (Mil)
09/04/2025		 GBP 526.28
Share Class Size (Mil)
09/04/2025		 GBP 122.44
Max Initial Charge -
Ongoing Charge
14/02/2025		  1.58%
Investment Objective: Ninety One American Franchise Fund A Acc GBP
The Fund aims to provide capital growth over at least 5 years. The Fund invests primarily (at least two-thirds) in the shares of USA companies (those incorporated in, domiciled in, or that have significant economic exposure to, the USA) and in related derivatives (financial contracts whose value is linked to the price of the shares of such USA companies). The Fund focuses on investing in companies believed to be of high quality, which are typically associated with strong brands or franchises.
Returns
Trailing Returns (GBP)09/04/2025
YTD-14.75
3 Years Annualised3.16
5 Years Annualised9.36
10 Years Annualised11.67
12 Month Yield 0.00
Management
Manager Name
Start Date
Paul Vincent
28/11/2019
William Nott
01/01/2016
Inception Date
23/09/2002

Category Benchmark
Fund BenchmarkMorningstar Benchmark
S&P 500 NR GBPMorningstar US LM Brd Growth NR USD
Portfolio Profile for  Ninety One American Franchise Fund A Acc GBP28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock98.160.0098.16
Bond0.020.000.02
Property0.000.000.00
Cash1.840.021.82
Other0.000.000.00
Top 5 Regions%
United States88.71
Europe - ex Euro5.34
Eurozone3.35
United Kingdom2.60
Canada0.00
Top 5 Sectors%
Technology32.84
Healthcare21.46
Financial Services16.14
Communication Services8.86
Consumer Defensive8.81
Top 5 HoldingsSector%
Alphabet Inc Class ACommunication ServicesCommunication Services8.70
Microsoft CorpTechnologyTechnology8.57
Charles Schwab CorpFinancial ServicesFinancial Services4.53
Autodesk IncTechnologyTechnology4.41
Automatic Data Processing IncTechnologyTechnology3.86
Increase Decrease New since last portfolio
Ninety One American Franchise Fund A Acc GBP
Growth Of 1000 (GBP) 31/03/2025
Fund:  Ninety One American Franchise Fund A Acc GBP
Category:  US Large-Cap Growth Equity
Category Index:  Morningstar US LM Brd Growth NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return7.1026.2419.3928.32-14.2524.449.01-7.84
+/- Category4.75-0.98-11.766.417.27-2.25-16.342.70
+/- Category Index2.75-3.09-12.520.989.02-7.59-26.184.37
% Rank in Category123151723579821
Trailing Returns (GBP)09/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-3.52   -2.97-15.23
1 Week-8.53   -0.74-7.96
1 Month-10.47   0.18-7.36
3 Months-15.66   3.70-1.63
6 Months-9.41   0.06-6.96
YTD-14.75   2.72-3.25
1 Year-12.04   -6.71-19.20
3 Years Annualised3.16   -1.00-6.79
5 Years Annualised9.36   -1.55-6.58
10 Years Annualised11.67   -0.24-3.04
 
Category: US Large-Cap Growth Equity
Category Index: Morningstar US LM Brd Growth NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-7.84---
20247.76-1.40-4.307.21
20236.596.452.167.35
2022-8.77-10.866.33-0.84
20212.3012.104.467.11
2020-6.5917.512.755.86
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageLow3 star
5-YearBelow AverageLow3 star
10-YearAverageBelow Average3 star
OverallAverageBelow Average3 star
 
Category :  US Large-Cap Growth EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev12.97 %
3-Yr Mean Return6.38 %
 
3-Yr Sharpe Ratio0.17
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar US LM Brd Growth NR USD  Morningstar Gbl Growth TME NR USD
3-Yr Beta0.700.82
3-Yr Alpha-2.35-0.83
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 112266-
Market Capitalisation% of Equity
Giant27.28
Large38.18
Medium30.74
Small3.80
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings26.750.92
Price/Book6.030.88
Price/Sales6.661.31
Price/Cash Flow21.151.08
Dividend-Yield Factor0.911.40
 
Long-Term Projected Earnings Growth9.830.77
Historical Earnings Growth9.720.54
Sales Growth9.010.86
Cash-Flow Growth6.330.35
Book-Value Growth10.950.82
 
Category: US Large-Cap Growth Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock98.160.0098.16
Bond0.020.000.02
Property0.000.000.00
Cash1.840.021.82
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States88.710.93
Canada0.000.00
Latin America0.000.00
United Kingdom2.609.66
Eurozone3.352.63
Europe - ex Euro5.3412.37
Europe - Emerging0.00-
Africa0.00-
Middle East0.000.00
Japan0.00-
Australasia0.00-
Asia - Developed0.000.00
Asia - Emerging0.000.00
 
Category: US Large-Cap Growth Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Consumer CyclicalConsumer Cyclical5.290.34
Financial ServicesFinancial Services16.141.62
Real EstateReal Estate2.803.07
Consumer DefensiveConsumer Defensive8.813.12
HealthcareHealthcare21.461.90
Communication ServicesCommunication Services8.860.72
IndustrialsIndustrials3.800.64
TechnologyTechnology32.840.85
 
Category: US Large-Cap Growth Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings29
Total Number of Bond Holdings0
Assets in Top 10 Holdings47.90
NameSectorCountry% of Assets
Alphabet Inc Class A308United States8.70
Microsoft Corp311United States8.57
Charles Schwab Corp103United States4.53
Autodesk Inc311United States4.41
Automatic Data Processing Inc311United States3.86
Dolby Laboratories Inc Class A310United States3.73
Texas Instruments Inc311United States3.66
Visa Inc Class A103United States3.57
Adobe Inc311United States3.44
Monster Beverage Corp205United States3.44
 
Increase Decrease New since last portfolio
Category: US Large-Cap Growth Equity
 
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 Date23/09/2002
Fund Advisor(s)
Ninety One UK Limited
Fund ManagerPaul Vincent
Manager Start Date28/11/2019
 
Biography
Paul is a portfolio manager in Ninety One’s Quality investment team, based in London. He is co-portfolio manager of the American Franchise strategy and portfolio manager of the Global Franchise strategy. In addition, he is responsible for managing the research process for all of the Quality team’s global strategies, as well as global equity idea generation and research. Paul joined the Quality investment team in 2013. Prior to this, he was a Senior Manager in Ninety One’s Investment Operations team. Paul graduated from the University of Surrey in 2010 with a first-class Bachelor of Science (Hons) degree in Business Management. During his studies, Paul completed a 14-month industrial placement at UBS Global Asset Management, with responsibilities covering client reporting and data management. Paul is also a CFA® Charterholder and holds the Investment Administration Qualification (IAQ) and Investment Management Certificate (IMC).
Fund ManagerWilliam Nott
Manager Start Date01/01/2016
 
Biography
William is a portfolio manager in Ninety One’s Quality investment team, based in London. He is co-portfolio manager of the American Franchise Strategy. In addition, he is responsible for global equity idea generation and research. Prior to joining the firm, William worked at Allianz Global Investors as a pan-European equity analyst. William graduated from the University of Cambridge with a Bachelor of Arts (Hons) degree in Economics. He holds the Certificate in ESG Investing and is a CFA® Charterholder.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.50%
Ongoing Charge1.58%
Purchase Details
Minimum Investments
Initial1000  GBP
Additional500  GBP
Savings100  GBP
Tax Free Savings Schemes
ISAsYes