Schroder MM Diversity Tactical A Acc NAV

IMA Sector:

Flexible Investment

ISIN:

GB0031549156

Fund Type:

Unit Trust

 149.50p
   
  • PEP:
  • ISA:
  • CAT Std:
  • Date: 26-Nov-2021
  • Change: 0.000p
  • Change %: n/a
  • Currency: GBP
  • YTD change: 149.50p
  • YTD %: n/a

Fund Objective

The Managed Equity Fund seeks to provide long-term capital appreciation.

View on Past Performance

Unprecedented deleveraging has continued across capital markets throughout Q3. With the period culminating in a widespread loss of confidence in the system, September 2008 will go down as one of the most chaotic months on record.By our reckoning, a good two dozen major market events have come to pass since 8 September - the day the US government effectively nationalised Fannie Mae and Freddie Mac - leaving July and August looking relatively pedestrian by comparison.Some of the lowlights include the bankruptcy of Lehman Brothers, the bailout of AIG, the failures of Washington Mutual and Wachovia, the demise of the remaining three US investment banks (Merrill Lynch, Goldman Sachs and Morgan Stanley), rescues of Fortis, Dexia, Bradford & Bingley Â… the list goes on.Accordingly, chronic strains in the commercial paper market have all but guaranteed a recession in the US and Europe. Indeed, by any reasonable measure, we are already in one. Its severity now depends on how quickly government and central bank action can restore confidence, get banks recapitalised and lending again. Efforts thus far have proven unsuccessful.A 40% peak to trough decline in the oil price is clearly one of the precious few positives to speak of during the quarter. Assuming this trend doesn't reverse (and in the absence of new news we don't think it will), this will ease the way for interest rate cuts in the fourth quarter. China set the ball rolling in September with a symbolic, albeit modest, reduction.

Future Expectations

In the immediate term, policymakers are driving financial markets. Whether recession degenerates into something more severe depends largely on what they do next.Q3 earnings for most industries will likely be dreadful. We also expect guidance for 2009 to be downgraded materially.As we write, markets are in capitulation mode. We expect a material bounce once the panic subsides.In light of the above outlook, we remain defensively positioned, but close to fully invested.

Fund Details

Latest Price 149.50p IMA Sector Flexible Investment
Currency British Pound Launch Date 22/05/2002
Fund Size n/a Fund Manager Marcus Brookes / Robin McDonald
ISIN GB0031549156 Dividend 0.00p
 

Price Info

Date 26-Nov-2021
NAV 149.50p
Currency GBP
Change 0.000p
% n/a
YTD change 149.50p
YTD % n/a

Fund Facts

Fund Inception 22/05/2002
Fund Manager Marcus Brookes / Robin McDonald
TER -
Minimum Investment
Initial £1000
Additional n/a
Savings n/a
Charges
Initial 5.00%
Annual Mang't 1.00%
Exit n/a

Risks

Name %
Standard deviation 0.01
Sharpe ratio 0.11

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