Morningstar Fund Report  | 10/04/2025Print

IFSL Marlborough Special Situations A Acc

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
IFSL Marlborough Special Situations A Acc
Fund20.1-32.1-1.73.3-7.1
+/-Cat-2.7-8.1-1.5-2.30.0
+/-B’mrk---8.6-1.4-3.4
 
Category: UK Small-Cap Equity
Category Benchmark: Morningstar UK Small Cap TM...
Key Stats
NAV
10/04/2025		 GBX 1499.65
Day Change 4.27%
Morningstar Category™ UK Small-Cap Equity
IA (formerly IMA) Sector UK All Companies
ISIN GB00B659XQ05
Fund Size (Mil)
31/03/2025		 GBP 473.88
Share Class Size (Mil)
31/03/2025		 GBP 2.53
Max Initial Charge 5.00%
Ongoing Charge
12/08/2024		  1.52%
Investment Objective: IFSL Marlborough Special Situations A Acc
The aim of the Fund is to provide capital growth, that is, to increase the value of investor's investment, over a minimum of 5 years, however, there is no certainty this will be achieved. The Fund is actively managed which means the Investment Manager decides which investments to buy or sell, and when. At least 80% of the Fund will be invested in the shares of companies listed in the UK, incorporated or domiciled in the UK or with significant business operations in the UK. This will include a range of small, medium and large companies. Of this, at least 60% of the Fund shall be invested in smaller companies, defined by the Investment Manager as companies with a market capitalisation (the market value of a company’s shares) of less than £2.5bn at the time of purchase.
Returns
Trailing Returns (GBP)10/04/2025
YTD-11.41
3 Years Annualised-10.90
5 Years Annualised2.14
10 Years Annualised3.42
12 Month Yield 0.32
Management
Manager Name
Start Date
Guy Feld
01/01/2021
Eustace Barbara
01/09/2014
Inception Date
12/07/1995

Category Benchmark
Fund BenchmarkMorningstar Benchmark
IA UK All CompaniesMorningstar UK Small Cap TME NR GBP
Portfolio Profile for  IFSL Marlborough Special Situations A Acc31/03/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock91.620.0091.62
Bond0.000.000.00
Property0.000.000.00
Cash4.950.004.95
Other3.480.063.43
Top 5 Regions%
United Kingdom83.12
United States5.85
Canada4.43
Eurozone3.18
Europe - ex Euro1.55
Top 5 Sectors%
Consumer Cyclical20.09
Technology18.02
Industrials15.30
Basic Materials12.36
Financial Services9.56
Top 5 HoldingsSector%
Alpha Group International PLCFinancial ServicesFinancial Services2.84
Zegona Communications PLCCommunication ServicesCommunication Services2.67
NCC Group PLCTechnologyTechnology2.07
Trustpilot Group PLCTechnologyTechnology2.00
GlobalData PLCIndustrialsIndustrials1.93
Increase Decrease New since last portfolio
IFSL Marlborough Special Situations A Acc
Growth Of 1000 (GBP) 31/03/2025
Fund:  IFSL Marlborough Special Situations A Acc
Category:  UK Small-Cap Equity
Category Index:  Morningstar UK Small Cap TME NR GBP
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-12.2019.4216.4120.12-32.11-1.713.29-7.06
+/- Category-0.22-5.849.11-2.73-8.08-1.48-2.330.04
+/- Category Index------8.62-1.37-3.40
% Rank in Category4487167181697048
Trailing Returns (GBP)10/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day4.27   5.590.23
1 Week-3.45   3.800.25
1 Month-6.69   2.83-0.72
3 Months-9.40   2.77-5.78
6 Months-11.54   3.25-1.69
YTD-11.41   2.64-3.36
1 Year-9.52   1.29-5.70
3 Years Annualised-10.90   -2.95-7.61
5 Years Annualised2.14   -1.59-1.12
10 Years Annualised3.42   -0.971.25
 
Category: UK Small-Cap Equity
Category Index: Morningstar UK Small Cap TME NR GBP
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-7.06---
2024-0.417.80-2.31-1.52
2023-4.22-2.87-1.647.42
2022-14.38-12.63-11.432.46
20217.537.805.27-1.57
2020-28.8224.929.2619.82
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageBelow Average2 star
5-YearBelow AverageBelow Average2 star
10-YearAverageBelow Average3 star
OverallAverageBelow Average3 star
 
Category :  UK Small-Cap EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev13.21 %
3-Yr Mean Return-8.44 %
 
3-Yr Sharpe Ratio-0.98
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar UK Small Cap TME NR GBP  Morningstar UK Small Cap TME NR GBP
3-Yr Beta0.660.66
3-Yr Alpha-10.00-10.00
 
Investment Style Details31/03/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 878-
Market Capitalisation% of Equity
Giant1.63
Large4.96
Medium15.09
Small43.35
Micro34.97
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings12.741.12
Price/Book1.420.94
Price/Sales0.850.99
Price/Cash Flow6.960.97
Dividend-Yield Factor2.320.65
 
Long-Term Projected Earnings Growth11.451.25
Historical Earnings Growth1.690.78
Sales Growth-9.77-2.43
Cash-Flow Growth-0.45-0.10
Book-Value Growth0.400.31
 
Category: UK Small-Cap Equity
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock91.620.0091.62
Bond0.000.000.00
Property0.000.000.00
Cash4.950.004.95
Other3.480.063.43
World Regions31/03/2025
 % of EquityRelative to Category
United States5.855.68
Canada4.4315.92
Latin America0.000.00
United Kingdom83.120.87
Eurozone3.183.15
Europe - ex Euro1.5519.75
Europe - Emerging0.000.00
Africa1.034.17
Middle East0.000.00
Japan0.00-
Australasia0.321.74
Asia - Developed0.300.44
Asia - Emerging0.231.64
 
Category: UK Small-Cap Equity
Sector Weightings31/03/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials12.362.07
Consumer CyclicalConsumer Cyclical20.091.29
Financial ServicesFinancial Services9.560.57
Real EstateReal Estate3.600.91
Consumer DefensiveConsumer Defensive6.081.02
HealthcareHealthcare5.531.47
Communication ServicesCommunication Services5.890.73
EnergyEnergy3.571.30
IndustrialsIndustrials15.300.68
TechnologyTechnology18.021.30
 
Category: UK Small-Cap Equity
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings132
Total Number of Bond Holdings0
Assets in Top 10 Holdings19.71
NameSectorCountry% of Assets
Alpha Group International PLC103United Kingdom2.84
Zegona Communications PLC308United Kingdom2.67
NCC Group PLC311United Kingdom2.07
Trustpilot Group PLC311United Kingdom2.00
GlobalData PLC310United Kingdom1.93
SCA INVESTMENTS LTD-1.92
Boku Inc Ordinary Shares311United Kingdom1.67
Compass Inc Class A104United States1.56
Cranswick PLC205United Kingdom1.54
Norcros PLC310United Kingdom1.50
 
Increase Decrease New since last portfolio
Category: UK Small-Cap Equity
 
Management
Name of CompanyMarlborough Investment Management Ltd.
Phone-
Website -
AddressPO Box 1852
 Lichfield   WS13 8XU
 United Kingdom
DomicileUnited Kingdom
Legal StructureUnit Trust
UCITSYes
Inception Date12/07/1995
Fund Advisor(s)
Marlborough Investment Management Ltd.
Fund ManagerGuy Feld
Manager Start Date01/01/2021
Education
University of Oxford
 
Biography
Guy, a graduate of Oxford University, has over 25 years’ City experience dedicated to the research and fund management of small and mid-cap equities. He joined the investment team in 2003 and has a particular focus on the tech sector and other ‘new economy’ and growth companies. Working with Eustace Santa Barbara, Guy co-manages Marlborough Special Situations, Marlborough UK Micro-Cap Growth and Marlborough Nano-Cap Growth. He is also Manager of the Marlborough Global Innovation Fund
Fund ManagerEustace Barbara
Manager Start Date01/09/2014
Education
Harvard University
 
Biography
Eustace Santa Barbara,CFA. Eustace is a graduate of Harvard University and joined the investment team from Close Brothers in 2013. He has worked as both an analyst and fund manager and has 18 years experience on the buy-side. Eustace is the Co-Manager of the Marlborough Special Situations Fund, Marlborough Nano-Cap Growth Fund and the Marlborough UK Micro-Cap Growth Fund.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.50%
Ongoing Charge1.52%
Purchase Details
Minimum Investments
Initial1000  GBP
Additional1000  GBP
Savings-
Tax Free Savings Schemes
ISAsYes