CF 7IM Income B Inc NAV

IMA Sector:

Mixed Investment 0-35% Shares

ISIN:

GB00B09T6X21

Fund Type:

OEIC

105.19p
   
  • PEP:
  • ISA:
  • CAT Std:
  • Date: 28-Sep-2016
  • Change: -0.25p
  • Change %: -0.24%
  • Currency: GBP
  • YTD change: 105.19p
  • YTD %: n/a

Fund Objective

This Fund aims to provide a total return, primarily by way of income, while seeking to limit the risk of capital loss.

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 returned -5.0% against a benchmark return of -3.2% last month, reversing the rise in the previous month. The real economy has been hit with a series of deteriorating fundamental data and credit concerns. The implication for fixed income markets has been that government bonds have rallied strongly, whilst non-government debt headed in the opposite direction and equity income funds suffered on fears of earnings disappointments and dividend cuts.The iShares UK Dividend Plus fund, which had performed well in August, dropped 11.8% in September. There were good performances from the Denmark and Norwegian government stocks which were up 0.3% and 3.4% respectively, outperforming other government issues in the portfolio.

Fund Details

Latest Price 105.19p IMA Sector Mixed Investment 0-35% Shares
Currency British Pound Launch Date 08/12/2003
Fund Size n/a Fund Manager 7IM
ISIN GB00B09T6X21 Dividend 0.96p

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Price Info

Date 28-Sep-2016
NAV 105.19p
Currency GBP
Change -0.25p
% -0.24%
YTD change 105.19p
YTD % n/a

Fund Facts

Fund Inception 08/12/2003
Fund Manager 7IM
TER -
Minimum Investment
Initial £500000
Additional n/a
Savings n/a
Charges
Initial 4.00%
Annual Mang't 1.35%
Exit n/a

Risks

Name %
Standard deviation 0.01
Sharpe ratio 0.14

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