Morningstar Fund Report  | 29/03/2025Print

Clerical Medical Newton Balanced Pension Fund

Performance History28/02/2025
Growth of 1,000 (GBP) Advanced Graph
Clerical Medical Newton Balanced Pension Fund
Fund16.8-4.88.810.32.6
+/-Sector6.15.00.52.40.1
 
Sector: Mixed Investment 40%-85% Shares (Pen)
Key Stats
NAV
28/03/2025		 GBX 4941.97
Day Change 0.27%
ABI Sector Mixed Investment 40%-85% Shares (Pen)
ISIN GB0031815821
Fund Size (Mil)
28/02/2025		 GBP 3479.27
Share Class Size (Mil)
28/03/2025		 GBP 625.66
Stakeholder Yes
*  This rating and report were issued for the underlying fund and not the insurance product. Fees of insurance products may be higher, which can negatively impact returns. Insurance products may also hold cash outside the underlying fund, which can strongly affect performance.
Investment Objective: Clerical Medical Newton Balanced Pension Fund
The Sub-Fund aims to achieve a balance between income and capital growth over the long term (5 years or more). The Sub-Fund is actively managed and invests at least 75% of the portfolio in UK and international securities across a range of global asset classes including, without limitation, equities (company shares), fixed income securities (bonds), infrastructure, renewable energy, property, commodities and near cash. The Sub-Fund does not have any restrictions on the portion of the portfolio allocated to any of these asset classes. Exposure to these asset classes will be achieved through investment in transferable securities, money market instruments, warrants, derivatives (including but not limited to currency-related derivatives), convertible bonds, contingent convertible bonds and collective investment schemes (including but not limited to another Sub-Fund or Sub-Funds of the Company or other BNY Mellon funds).
Returns
Trailing Returns (GBP)28/03/2025
YTD0.74
3 Years Annualised6.05
5 Years Annualised10.15
10 Years Annualised6.42
12 Month Yield -
Dividend Paying Frequency 
Management
Manager Name
Start Date
Simon Nichols
13/02/2013
Paul Flood
01/07/2022
Click here to see others
Inception Date
01/07/2002

Category Benchmark
Fund BenchmarkMorningstar Benchmark
IA Mixed Invest 40 - 85% SharesMorningstar UK Mod Adv Tgt Alloc NR GBP
Portfolio Profile for  Clerical Medical Newton Balanced Pension Fund28/02/2025
Morningstar Style Box®
Equity Style
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock73.480.0073.48
Bond15.650.0015.65
Property0.000.000.00
Cash7.360.177.19
Other0.020.000.02
Fixed Income
Effective Maturity-
Effective Duration-
Top 5 Regions%
United States39.76
United Kingdom31.53
Eurozone12.85
Europe - ex Euro4.87
Asia - Developed4.80
Top 5 Sectors%
Technology18.60
Financial Services17.95
Industrials16.60
Healthcare16.58
Utilities6.51
Top 5 HoldingsSector%
ILF GBP Liquidity 57.95
Microsoft CorpTechnologyTechnology3.37
RELX PLCIndustrialsIndustrials2.56
United Kingdom of Great Britain ... 2.34
United Kingdom of Great Britain ... 2.33
Increase Decrease New since last portfolio
Clerical Medical Newton Balanced Pension Fund
Growth Of 1000 (GBP) 28/02/2025
Fund:  Clerical Medical Newton Balanced Pension Fund
Category:  GBP Allocation 60-80% Equity
Category Index:  Morningstar UK Mod Adv Tgt Alloc NR GBP
Growth of 1,000 GBP
Annual Returns (GBP)28/02/2025
 201820192020202120222023202428/02
Price Return-2.9517.935.8316.77-4.778.7710.272.64
+/- Category3.422.260.585.625.310.401.280.54
+/- Category Index--1.314.502.50-1.90-0.96-0.50
% Rank in Category14273758431846
Trailing Returns (GBP)28/03/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.27   0.530.83
1 Week-0.08   0.080.73
1 Month-1.85   0.441.45
3 Months0.14   0.740.60
6 Months1.80   1.030.18
YTD0.74   0.941.00
1 Year5.04   0.78-0.55
3 Years Annualised6.05   2.440.71
5 Years Annualised10.15   2.180.84
10 Years Annualised6.42   1.370.02
 
Category: GBP Allocation 60-80% Equity
Category Index: Morningstar UK Mod Adv Tgt Alloc NR GBP
Quarterly Returns (GBP)28/02/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20245.762.250.391.58
20233.441.21-0.244.14
2022-2.19-5.37-0.032.92
20212.514.773.295.26
2020-12.3511.901.336.47
 
 
 
Morningstar Rating™(Relative to ABI Sector)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearHighLow5 star
5-YearHighBelow Average5 star
10-YearAbove AverageBelow Average5 star
OverallHighBelow Average5 star
 
ABI Sector :  Mixed Investment 40%-85% Shares (Pen)  
Volatility Measurements28/02/2025
 
3-Yr Std Dev6.58 %
3-Yr Mean Return7.54 %
 
3-Yr Sharpe Ratio0.52
 
Modern Portfolio Statistics28/02/202528/02/2025
 Standard IndexBest Fit Index
 Morningstar UK Mod Adv Tgt Alloc NR GBP  Morningstar EU Agg Gbl Tgt Alloc NR EUR
3-Yr Beta0.560.67
3-Yr Alpha0.040.06
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 100402-
Market Capitalisation% of Equity
Giant45.97
Large42.80
Medium11.23
Small0.00
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings18.051.04
Price/Book2.831.07
Price/Sales2.431.29
Price/Cash Flow11.170.97
Dividend-Yield Factor2.030.90
 
Long-Term Projected Earnings Growth9.550.96
Historical Earnings Growth5.340.71
Sales Growth3.790.70
Cash-Flow Growth7.051.11
Book-Value Growth7.461.23
 
Category: GBP Allocation 60-80% Equity
Fixed Income Style-
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)GBP 3499
Maturity Distribution %
1 to 38.47
3 to 515.39
5 to 710.22
7 to 103.74
10 to 1523.36
15 to 2022.62
20 to 305.37
Over 300.03
Effective Maturity-
Effective Duration-
Credit Quality Breakdown %     %
AAA -   BB-
AA-   B-
A-   Below B-
BBB-   Not Rated-
 
Category: GBP Allocation 60-80% Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock73.480.0073.48
Bond15.650.0015.65
Property0.000.000.00
Cash7.360.177.19
Other0.020.000.02
World Regions28/02/2025
 % of EquityRelative to Category
United States39.760.76
Canada0.040.04
Latin America0.000.00
United Kingdom31.531.65
Eurozone12.851.39
Europe - ex Euro4.871.17
Europe - Emerging0.000.00
Africa0.000.00
Middle East0.000.00
Japan3.020.49
Australasia0.701.14
Asia - Developed4.801.46
Asia - Emerging2.440.75
 
Category: GBP Allocation 60-80% Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials3.710.95
Consumer CyclicalConsumer Cyclical6.290.59
Financial ServicesFinancial Services17.951.04
Real EstateReal Estate0.000.00
Consumer DefensiveConsumer Defensive5.130.78
HealthcareHealthcare16.581.40
UtilitiesUtilities6.512.56
Communication ServicesCommunication Services5.720.76
EnergyEnergy2.910.80
IndustrialsIndustrials16.601.31
TechnologyTechnology18.600.89
 
Category: GBP Allocation 60-80% Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings60
Total Number of Bond Holdings13
Assets in Top 10 Holdings28.49
NameSectorCountry% of Assets
ILF GBP Liquidity 5Ireland7.95
Microsoft Corp311United States3.37
RELX PLC310United Kingdom2.56
United Kingdom of Great Britain and N... United Kingdom2.34
United Kingdom of Great Britain and N... United Kingdom2.33
Shell PLC309United Kingdom2.13
United States Treasury Bonds 2.875%United States2.04
United States Treasury Notes 0.125%United States1.96
Alphabet Inc Class A308United States1.91
AstraZeneca PLC206United Kingdom1.90
 
Increase Decrease New since last portfolio
Category: GBP Allocation 60-80% Equity
 
Management
Name of CompanyScottish Widows Invst Solutions (CMIG)
Phone+44 (0)845 845 0066
Websitewww.scottishwidows.co.uk
AddressScottish Widows Investment Solutions (CMIG)
 Edinburgh   EH16 5WL
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
Inception Date01/07/2002
Fund Advisor(s)
Newton Investment Management Ltd
Fund ManagerSimon Nichols
Manager Start Date13/02/2013
Career Start Year1995
Education
1995, University of Nottingham, B.A.
 
Biography
Simon joined Newton in 2001 and was responsible for research into a number of global industrial sectors before moving to portfolio management. Simon’s experience includes managing global, multi-asset, charity and UK equity portfolios. Simon is a chartered accountant (ACA) and prior to joining Newton he worked in both audit and insolvency practices at leading accountancy firms. He is a CFA charterholder, a member of the Chartered Institute for Securities and Investment (MCSI), and also holds a BA (Hons) degree in Industrial Economics from the University of Nottingham. Outside of work, Simon is a keen runner.
Fund ManagerPaul Flood
Manager Start Date01/07/2022
Career Start Year2004
Education
University of St Andrews, B.S.
 
Biography
Paul is Head of Mixed Assets Investment at Newton. He is also lead manager of Newton Multi-Asset Diversified Return strategy, the Newton Multi-Asset Income strategy and the Newton Multi-Asset Growth strategy. He also provides leadership and analysis on asset allocation, derivatives and convertible bonds for the wider firm, having spent the earlier part of his career working on strategic asset allocation and derivative strategy. Paul is responsible for generating ideas within alternative assets and has been leading in this area since 2008. He is a member of the macro allocation group and provides feedback to the wider house on strategic and tactical asset allocation. Paul joined Newton in 2004. He is a CFA1 charterholder and has completed the certificate in quantitative finance (CQF) after passing with distinction. Paul studied Astrophysics at the University of St Andrews and is a keen cyclist and runner, having recently cycled the length of the UK from Land’s End to John O’Groats and often participates in marathons. Joined Newton: 2004 Joined industry: 2004
Fund ManagerBhavin Shah
Manager Start Date05/01/2018
Career Start Year2004
 
Biography
Bhavin joined Newton in June 2011 as a portfolio manager in the mixed assets investment team. Prior to joining Newton, he worked at SG Hambros for seven years where he was responsible for managing client portfolios focused on absolute return and multi-asset strategies. Bhavin is co-lead manager on a numerous multi-asset accounts at Newton. In addition to portfolio management responsibilities, Bhavin is a member of the Investment Risk Oversight Group and is a co-lead of our ‘net effects’ thematic group, which focuses on digitalisation trends. Bhavin holds an MSc in Mathematics with distinction and is a CFA charterholder.
Fees and Expenses
Annual Charges
Max Annual Management Charge1.50%
Ongoing Charge
Purchase Details
Minimum Investments
Initial1000  GBP
Additional250  GBP
Savings50  GBP
Tax Free Savings Schemes
ISAsYes