Morningstar Fund Report  | 07/04/2025Print

CT UK Equity Income Fund Retail Income GBP

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
CT UK Equity Income Fund Retail Income GBP
Fund18.6-2.59.111.3-2.3
+/-Cat0.80.92.33.2-3.2
+/-B’mrk--1.51.4-7.4
 
Category: UK Equity Income
Category Benchmark: Morningstar UK All Cap TME ...
Key Stats
NAV
04/04/2025		 GBP 1.01
Day Change -3.08%
Morningstar Category™ UK Equity Income
IA (formerly IMA) Sector UK Equity Income
ISIN GB0001448900
Fund Size (Mil)
31/03/2025		 GBP 2637.46
Share Class Size (Mil)
04/04/2025		 GBP 125.98
Max Initial Charge 3.75%
Ongoing Charge
31/01/2025		  1.60%
Morningstar Research
Analyst Report29/10/2024
Daniel Haydon, Analyst
Morningstar, Inc

Following Richard Colwell’s upcoming retirement, we see some continuity for the CT UK Equity Income strategy, but his departure will be a clear loss to the team. This results in a Morningstar Analyst Rating of Bronze for the clean share class,...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People23
Parent23
Process24
Performance
Price
Investment Objective: CT UK Equity Income Fund Retail Income GBP
The Fund aims to provide income combined with prospects for capital growth over the long term. It looks to provide an income yield higher than the FTSE All-Share Index over rolling 3-year periods, after the deduction of charges. The Fund is actively managed, and invests at least 90% of its assets in the shares of companies listed on the London Stock Exchange; predominantly companies domiciled in the UK, or which have significant UK business operations.
Returns
Trailing Returns (GBP)04/04/2025
YTD-5.56
3 Years Annualised4.99
5 Years Annualised11.19
10 Years Annualised4.81
12 Month Yield 3.83
Dividend Paying Frequency Quarterly
Management
Manager Name
Start Date
Jeremy Smith
18/11/2022
Inception Date
30/09/1985

Category Benchmark
Fund BenchmarkMorningstar Benchmark
FTSE AllSh TR GBPMorningstar UK All Cap TME NR GBP
Portfolio Profile for  CT UK Equity Income Fund Retail Income GBP28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock98.990.0098.99
Bond0.000.000.00
Property0.000.000.00
Cash0.020.02-0.01
Other1.020.001.02
Top 5 Regions%
United Kingdom96.56
United States3.44
Canada0.00
Latin America0.00
Eurozone0.00
Top 5 Sectors%
Consumer Defensive19.78
Industrials19.31
Healthcare13.07
Communication Services12.69
Financial Services11.62
Top 5 HoldingsSector%
Imperial Brands PLCConsumer DefensiveConsumer Defensive8.91
Unilever PLCConsumer DefensiveConsumer Defensive5.88
GSK PLCHealthcareHealthcare5.44
Pearson PLCCommunication ServicesCommunication Services5.02
RS Group PLCIndustrialsIndustrials3.21
Increase Decrease New since last portfolio
CT UK Equity Income Fund Retail Income GBP
Growth Of 1000 (GBP) 31/03/2025
Fund:  CT UK Equity Income Fund Retail Income GBP
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-7.1519.49-7.6418.56-2.539.0911.27-2.29
+/- Category3.410.544.920.750.912.333.18-3.16
+/- Category Index-----1.461.44-7.45
% Rank in Category1753183558292283
Trailing Returns (GBP)04/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-3.08   0.751.85
1 Week-4.77   1.352.17
1 Month-7.21   -0.740.19
3 Months-5.96   -1.56-4.29
6 Months-2.18   2.32-0.50
YTD-5.56   -1.65-4.39
1 Year4.74   3.510.06
3 Years Annualised4.99   2.08-0.14
5 Years Annualised11.19   0.69-0.56
10 Years Annualised4.81   0.65-0.49
 
Category: UK Equity Income
Category Index: Morningstar UK All Cap TME NR GBP
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-2.29---
20241.314.883.291.38
20233.040.182.053.55
2022-2.96-4.11-6.2611.75
20215.555.982.643.26
2020-24.5810.53-1.7512.77
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageAverage3 star
5-YearAverageAverage3 star
10-YearAverageAverage4 star
OverallAverageAverage4 star
 
Category :  UK Equity IncomeClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev11.95 %
3-Yr Mean Return6.74 %
 
3-Yr Sharpe Ratio0.21
 
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 Beta0.920.64
3-Yr Alpha-1.065.21
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 8270-
Market Capitalisation% of Equity
Giant14.55
Large18.85
Medium50.72
Small14.46
Micro1.41
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings12.131.05
Price/Book2.061.27
Price/Sales0.610.78
Price/Cash Flow7.571.03
Dividend-Yield Factor4.040.91
 
Long-Term Projected Earnings Growth6.620.74
Historical Earnings Growth-2.870.60
Sales Growth6.611.30
Cash-Flow Growth4.355.42
Book-Value Growth-1.20-0.64
 
Category: UK Equity Income
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock98.990.0098.99
Bond0.000.000.00
Property0.000.000.00
Cash0.020.02-0.01
Other1.020.001.02
World Regions28/02/2025
 % of EquityRelative to Category
United States3.441.34
Canada0.000.00
Latin America0.000.00
United Kingdom96.561.05
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 Materials4.750.79
Consumer CyclicalConsumer Cyclical9.500.97
Financial ServicesFinancial Services11.620.46
Real EstateReal Estate3.971.14
Consumer DefensiveConsumer Defensive19.781.49
HealthcareHealthcare13.071.54
UtilitiesUtilities3.480.74
Communication ServicesCommunication Services12.692.07
IndustrialsIndustrials19.311.45
TechnologyTechnology1.820.77
 
Category: UK Equity Income
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings41
Total Number of Bond Holdings0
Assets in Top 10 Holdings43.70
NameSectorCountry% of Assets
Imperial Brands PLC205United Kingdom8.91
Unilever PLC205United Kingdom5.88
GSK PLC206United Kingdom5.44
Pearson PLC308United Kingdom5.02
RS Group PLC310United Kingdom3.21
BT Group PLC308United Kingdom3.20
AstraZeneca PLC206United Kingdom3.08
Marks & Spencer Group PLC102United Kingdom3.07
Rentokil Initial PLC310United Kingdom2.95
ITV PLC308United Kingdom2.93
 
Increase Decrease New since last portfolio
Category: UK Equity Income
 
Management
Name of CompanyThreadneedle Investment Services Ltd
Phone44-20-7464-5000
Websitewww.columbiathreadneedle.com
AddressCannon Place, 78 Cannon Street
 London   EC4N 6AG
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date30/09/1985
Fund Advisor(s)
Threadneedle Asset Management Ltd.
Fund ManagerJeremy Smith
Manager Start Date18/11/2022
 
Biography
Jeremy Smith is Co-Head of UK Equities and a portfolio manager at Columbia Threadneedle Investments, having joined the company in 2015. He manages the CT UK Growth & Income Fund, CT UK Equity Income Fund and the CT UK Equity Alpha Income Fund. Jeremy is also Head of UK Equity Research and has research responsibility for the oil services and support services sectors. Jeremy has over 20 years of experience and has held various roles in the asset management industry including Head of UK Equities at Neptune Investment Management and Director in the UK large cap team at Schroders. During his tenure at Neptune and Schroders, he worked as a portfolio manager with responsibility for a range of UK equity portfolios, as well as an analyst specialising in the oil & gas and chemicals sectors. Jeremy holds a BA (Hons) in History and is also a Chartered Management Accountant (ACMA).
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge3.75%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.50%
Ongoing Charge1.60%
Purchase Details
Minimum Investments
Initial2000  GBP
Additional1000  GBP
Savings-
Tax Free Savings Schemes
ISAsYes