New Star Monthly Income Acc

IMA Sector:

UK Equity & Bond Income

ISIN:

GB00B19G0M75

Fund Type:

OEIC

53.24p
   
  • PEP:
  • ISA:
  • CAT Std:
  • Date: 15-Jan-2009
  • Change: -0.72p
  • Change %: -1.33%
  • Currency: GBP
  • YTD change: 53.24p
  • YTD %: n/a

Fund Objective

To achieve a high level of income and retain some possibility of growth in both capital and income.

View on Past Performance

In September, UK equities suffered their worst month since the October 1987 crash, while in the US AIG was bailed out by the government, Merrill Lynch had to accept a bid from Bank of America and Lehman Brothers became insolvent. The New Star Monthly Income Unit Trust's fixed interest investments are in eurosterling bonds that yield more than gilts with no currency risk for a UK unitholder.Such securities suffered in September, however, from a "flight to quality". While gilt values were scarcely changed, non-government securities fell 12.9%. At the same time, UK equities lost 13.2%# and the New Star Monthly Income Unit Trust fell 12.5%#.The month ended with a $700 billion US government rescue operation still to be approved and market makers reluctant to deal. The rescue was finally approved in early October. During September, the shareholding in Lloyds TSB was sold. When Lloyds agreed to take over HBOS, it said the 2008 final payment would be a scrip dividend and the 2009 payment is likely to be halved. The shares are no longer suitable for a high-yielding fund.The month also included agreements by shareholders to the takeovers of two companies held in the equity portfolio: Alliance & Leicester was bought by Bank Santander for shares and TDG was bought for cash. At the end of September, UK three-month London Interbank Offered Rate stood at 6.3%. That is unusually high when compared with bank rate at 5%. Confidence will not return until money becomes more freely available.

Fund Details

Latest Price 53.24p IMA Sector UK Equity & Bond Income
Currency British Pound Launch Date 01/05/2000
Fund Size n/a Fund Manager John Cornes
ISIN GB00B19G0M75 Dividend 0.00p

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

 

Price Info

Date 15-Jan-2009
Bid 51.88p
Offer 54.60p
Currency GBP
Change -0.72p
% -1.33%
YTD change 53.24p
YTD % n/a

Fund Facts

Fund Inception 01/05/2000
Fund Manager John Cornes
TER -
Minimum Investment
Initial £1000
Additional n/a
Savings £100
Charges
Initial 5.00%
Annual Mang't 1.50%
Exit n/a

Risks

Name %
No risk data available.

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