CF 7IM Moderately Cautious D Inc NAV

IMA Sector:

Mixed Investment 0-35% Shares

ISIN:

GB00B0438Q65

Fund Type:

OEIC

143.89p
   
  • PEP:
  • ISA:
  • CAT Std:
  • Date: 20-Oct-2021
  • Change: 0.050p
  • Change %: 0.03%
  • Currency: GBP
  • YTD change: 2.19p
  • YTD %: 1.55%

Fund Objective

This Fund aims to provide a total return, substantially by way of accumulated income though with some capital appreciation. There may be a moderate risk to capital.

View on Past Performance

September saw unprecedented moves to prevent global systemic financial failure. US mortgage giants Fannie Mae and Freddie Mac were taken into conservatorship, effectively nationalisation, Lehman Brothers collapsed and a rescue bid came from Bank of America for Merrill Lynch. AIG was rescued with an $85bn loan from the Fed who became its 80% owner. The US's oldest money market fund Reserve Primary Fund "broke the buck" i.e. was worth less than $1.Lloyds TSB moved to acquire HBOS and the LSE imposed a ban on short selling of financial shares. A $700bn TARP (troubled asset rescue programme) of US banks was proposed to Congress. Mitsubishi UFJ injected $8.5bn into Morgan Stanley, acquiring a 20% stake. The remaining investment banks in the US (Goldman Sachs, Morgan Stanley) became regulated bank holding companies. Washington Mutual's assets were seized. Rejection of the TARP triggered widespread panic.Citigroup proposed a rescue bid for Wachovia. Bradford & Bingley's deposit base was bought by Santander and their mortgages nationalised. Fortis was rescued by a Benelux consortium, Hypo Real Estate was offered a lifeline by the German central bank, Glitnir Bank in Iceland was nationalised, Dexia was rescued by authorities in Belgium France and Luxemburg and the Irish government guaranteed 100% of Irish bank deposits.The fund was down 4.8% last month, against a benchmark performance down 3.2%. The bond holdings performed relatively well, but with the equity market sharply down and some of the other asset categories also marked down, the fund suffered. The worst performing holdings were Nomura Global Infrastructure Builders, down 9.7% on fears of global recession, while the Dexion Absolute Fund was down 12.8%.We made a number of changes to the portfolio last month. These arose from a re-assessment made by our fund advisors of the various fund investment styles. In some cases it was felt these did not represent the best way to achieve the expected returns from the fund, given the fund risk profile. These changes covered all asset classes within the core portfolio.

Fund Details

Latest Price 143.89p IMA Sector Mixed Investment 0-35% Shares
Currency British Pound Launch Date 12/12/2003
Fund Size n/a Fund Manager 7IM / IMS
ISIN GB00B0438Q65 Dividend 0.13p

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Price Info

Date 20-Oct-2021
NAV 143.89p
Currency GBP
Change 0.050p
% 0.03%
YTD change 2.19p
YTD % 1.55%

Fund Facts

Fund Inception 12/12/2003
Fund Manager 7IM / IMS
TER 1.86 (31-May-2011)

Fund Reports

Minimum Investment
Initial £500000
Additional n/a
Savings n/a
Charges
Initial 4.00%
Annual Mang't 1.40%
Exit n/a

Risks

Name %
Standard deviation 0.01
Sharpe ratio 0.05

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