Ninety One UK Special Situations Class I Inc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 31/01/20 to 31/01/21 |
31/01/21 to 31/01/22 |
31/01/22 to 31/01/23 |
31/01/23 to 31/01/24 |
31/01/24 to 31/01/25 |
|
|---|---|---|---|---|---|
| Fund | -14.4% | 21.0% | 2.6% | 17.8% | 26.1% |
| Sector | -4.5% | 13.9% | -1.4% | 1.9% | 13.4% |
| Rank | 199/208 | 24/213 | 92/217 | 1/221 | 4/222 |
| Quartile | 4 | 1 | 2 | 1 | 1 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/01/25 |
5 Years to 31/01/25 |
10 Years to 31/01/25 |
||
| Fund | 15.1% | 9.6% | 7.6% | |
| Sector | 4.4% | 4.4% | 5.4% | |
| Rank | 1/217 | 4/208 | 15/180 | |
| Quartile | 1 | 1 | 1 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| ROLLS-ROYCE HLDGS | 8.78 |
| ROYAL BANK OF SCOTLAND GROUP | 5.83 |
| BRITISH AMERICAN TOBACCO | 4.97 |
| CAIRN HOMES PUBLIC LIMITED COMPANY | 4.73 |
| RECKITT BENCKISER GROUP | 4.73 |
| DIRECT LINE INSURANCE GROUP | 4.03 |
| JET2 | 3.85 |
| BEAZLEY | 3.70 |
| DOWLAIS GROUP | 3.66 |
| AJ BELL | 3.48 |
| Total | 47.76 |
Fund Aims
The Fund aims to provide capital growth (to grow the value of your investment) and income over at least 5 years. The Fund invests primarily (at least two-thirds) in the shares of UK companies (those incorporated in, domiciled in, or that have significant economic exposure to, the UK) and in related derivatives (financial contracts whose value is linked to the price of the shares of such UK companies).
Fund Manager
Steve is a portfolio manager within the Value team at Ninety One. Since 20 April 2020 he assumed co-portfolio management of the UK Value strategies in addition to the Global Special Situations and Global Value Equity strategies that he has been managing since 2016. Previously, Steve was an analyst in the Value team. He joined the firm in 2008 from the Financial Services Authority where he supervised asset managers and financial advisors. Steve graduated from Nottingham University in 2004 where he obtained a first class Master’s degree in Mathematics and is also a CFA® Charterholder.
Alessandro is a portfolio manager within the Value team at Ninety One. Since 20 April 2020 he assumed co-portfolio management of the UK Value strategies in addition to the Global Value Equity strategies that he has been managing since 2016. In 2011, Alessandro joined the firm as an analyst in the Value team. Previously he worked at J.P. Morgan Chase & Co as a fixed income derivatives salesperson in London. He graduated from UCL in 2004 with a Bachelor of Science (Hons) degree in Economics and holds a Masters degree in Finance from the London Business School. He has passed Level III of the CFA® Programme.
Fund Overview
| Mid (04/02/2025) | 214.37p |
| Historic yield | 2.08% |
| Fund size (30/11/2024) | £482.78m |
| Number of holdings | 37 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.85% |
| Launch date | 14/07/2011 |
Asset Allocation
| UK Equities | 71.00% | |
| International Equities | 24.06% | |
| Cash and Equivalents | 4.59% | |
| Other Assets | 0.35% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Asset Allocation
| UK Equities | 71.00% | |
| International Equities | 24.06% | |
| Cash and Equivalents | 4.59% | |
| Other Assets | 0.35% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Financials | 26.70% | - | - | - | |
| Insurance | - | 12.55% | - | - | |
| Non-life Insurance | - | - | 10.15% | - | |
| Property & Casualty Insurance | - | - | - | 7.73% | |
| Full Line Insurance | - | - | - | 2.42% | |
| Life Insurance | - | - | 2.40% | - | |
| Life Insurance | - | - | - | 2.40% | |
| Banks | - | 9.39% | - | - | |
| Banks | - | - | 9.39% | - | |
| Banks | - | - | - | 9.39% | |
| Financial Services | - | 4.75% | - | - | |
| Investment Banking & Brokerage Services | - | - | 4.75% | - | |
| Investment Services | - | - | - | 3.48% | |
| Asset Managers & Custodians | - | - | - | 1.27% | |
| Consumer Discretionary | 25.96% | - | - | - | |
| Consumer Products & Services | - | 10.99% | - | - | |
| Household Goods & Home Construction | - | - | 8.56% | - | |
| Home Construction | - | - | - | 8.56% | |
| Personal Goods | - | - | 2.43% | - | |
| Clothing & Accessories | - | - | - | 2.43% | |
| Automobiles & Parts | - | 6.68% | - | - | |
| Automobiles & Parts | - | - | 6.68% | - | |
| Auto Parts | - | - | - | 6.68% | |
| Retail | - | 4.44% | - | - | |
| Retailers | - | - | 4.44% | - | |
| Diversified Retailers | - | - | - | 2.72% | |
| Home Improvement Retailers | - | - | - | 1.72% | |
| Travel & Leisure | - | 3.85% | - | - | |
| Travel & Leisure | - | - | 3.85% | - | |
| Airlines | - | - | - | 3.85% | |
| Consumer Staples | 15.94% | - | - | - | |
| Food, Beverage & Tobacco | - | 11.21% | - | - | |
| Tobacco | - | - | 7.27% | - | |
| Tobacco | - | - | - | 7.27% | |
| Food Producers | - | - | 2.46% | - | |
| Food Products | - | - | - | 2.46% | |
| Beverages | - | - | 1.48% | - | |
| Soft Drinks | - | - | - | 1.48% | |
| Personal Care, Drug & Grocery Stores | - | 4.73% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 4.73% | - | |
| Nondurable Household Products | - | - | - | 4.73% | |
| Industrials | 13.73% | - | - | - | |
| Industrial Goods & Services | - | 13.73% | - | - | |
| Aerospace & Defence | - | - | 8.78% | - | |
| Aerospace | - | - | - | 8.78% | |
| Industrial Transportation | - | - | 2.49% | - | |
| Commercial Vehicle-Equipment Leasing | - | - | - | 2.49% | |
| Industrial Support Services | - | - | 2.46% | - | |
| Industrial Suppliers | - | - | - | 2.46% | |
| Technology | 7.01% | - | - | - | |
| Technology | - | 7.01% | - | - | |
| Software & Computer Services | - | - | 4.59% | - | |
| Consumer Digital Services | - | - | - | 2.94% | |
| Software | - | - | - | 1.65% | |
| Technology Hardware & Equipment | - | - | 2.42% | - | |
| Production Technology Equipment | - | - | - | 1.32% | |
| Semiconductors | - | - | - | 1.10% | |
| Cash and Equivalents | 4.59% | - | - | - | |
| Energy | 4.30% | - | - | - | |
| Energy | - | 4.30% | - | - | |
| Non-Renewable Energy | - | - | 4.30% | - | |
| Integrated Oil & Gas | - | - | - | 3.32% | |
| Oil Equipment & Services | - | - | - | 0.98% | |
| Real Estate | 1.33% | - | - | - | |
| Real Estate | - | 1.33% | - | - | |
| Real Estate Investment & Services | - | - | 1.33% | - | |
| Real Estate Services | - | - | - | 1.33% | |
| Non-Classified | 0.35% | - | - | - | |
| Non-Classified | - | 0.35% | - | - | |
| Non-Classified | - | - | 0.35% | - | |
| Non-Classified | - | - | - | 0.35% | |
| Utilities | 0.10% | - | - | - | |
| Utilities | - | 0.10% | - | - | |
| Gas, Water & Multi-utilities | - | - | 0.10% | - | |
| Water | - | - | - | 0.10% | |
Regional Allocation
| UK | 73.43% | |
| Developed Europe - Excl UK | 13.82% | |
| North America | 5.89% | |
| Cash and Equivalents | 4.59% | |
| Emerging Asia | 1.93% | |
| Non-Classified | 0.35% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 97.68% | |
| Cash | 2.20% | |
| Pound Sterling | 0.12% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| UK | 73.43% | - | |
United Kingdom
|
- | 71.00% | |
Jersey
|
- | 2.42% | |
| Developed Europe - Excl UK | 13.82% | - | |
Ireland
|
- | 7.19% | |
Germany
|
- | 2.49% | |
Netherlands
|
- | 2.49% | |
Switzerland
|
- | 1.65% | |
| North America | 5.89% | - | |
United States
|
- | 5.89% | |
| Cash and Equivalents | 4.59% | - | |
| Emerging Asia | 1.93% | - | |
Kazakhstan
|
- | 1.93% | |
| Non-Classified | 0.35% | - | |
Breakdown By Market Cap (%)
| Mega |
|
17.81% |
| Large |
|
23.26% |
| Medium |
|
20.16% |
| Small |
|
1.72% |
| Non-Classified |
|
32.46% |
| Cash |
|
4.59% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | ROLLS-ROYCE HLDGS | 8.78% | Aerospace & Defence | United Kingdom |
| 2 | ROYAL BANK OF SCOTLAND GROUP | 5.83% | Banks | United Kingdom |
| 3 | BRITISH AMERICAN TOBACCO | 4.97% | Tobacco | United Kingdom |
| 4 | CAIRN HOMES PUBLIC LIMITED COMPANY | 4.73% | Household Goods & Home Construction | Ireland |
| 5 | RECKITT BENCKISER GROUP | 4.73% | Personal Care, Drug & Grocery Stores | United Kingdom |
| 6 | DIRECT LINE INSURANCE GROUP | 4.03% | Non-life Insurance | United Kingdom |
| 7 | JET2 | 3.85% | Travel & Leisure | United Kingdom |
| 8 | BEAZLEY | 3.70% | Non-life Insurance | United Kingdom |
| 9 | DOWLAIS GROUP | 3.66% | Automobiles & Parts | United Kingdom |
| 10 | AJ BELL | 3.48% | Investment Banking & Brokerage Services | United Kingdom |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 7.01% | - | - | - | - | - | - | 7.01% |
| Financials | 22.35% | 4.35% | - | - | - | - | - | - | 26.70% |
| Real Estate | 1.33% | - | - | - | - | - | - | - | 1.33% |
| Consumer Discretionary | 18.21% | 7.75% | - | - | - | - | - | - | 25.96% |
| Consumer Staples | 15.94% | - | - | - | - | - | - | - | 15.94% |
| Energy | 4.30% | - | - | - | - | - | - | - | 4.30% |
| Utilities | 0.10% | - | - | - | - | - | - | - | 0.10% |
| Industrials | 8.78% | 4.95% | - | - | - | - | - | - | 13.73% |
| Cash and Equivalents | - | - | - | - | - | - | - | 4.59% | 4.59% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only.
Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B61JXN1 |
| Mex Code | YFSITU |
| Isin Code | GB00B61JXN13 |
| Citi Code | 04KF |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.85% |
Aims and Benchmark
| Aims | The Fund aims to provide capital growth (to grow the value of your investment) and income over at least 5 years. The Fund invests primarily (at least two-thirds) in the shares of UK companies (those incorporated in, domiciled in, or that have significant economic exposure to, the UK) and in related derivatives (financial contracts whose value is linked to the price of the shares of such UK companies). |
| Benchmark | FTSE All-Share Total Return |
| Benchmark Category | - |
| IA Sector | UK All Companies |
Fund Background
| Valuation frequency | Daily |
| Valuation point | - |
| Fund type | OEIC |
| Launch price | - |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Annually |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 October | 30 November |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | State Street Trustees Limited |
| Fund Administrator | SS&C Financial Services International Limited |
| Fund Registrar | SS&C Financial Services Europe Limited |
| Fund Custodian | State Street Bank and Trust Company |
Group Details
| Group name | Ninety One |
| Group address | 55 Gresham Street London EC2V 7QP |
| Group telephone | +44 (0) 203 938 1900 |
| Dealing telephone | +44 (0) 203 938 1900 |
| enquiries@ninetyone.com | |
| Homepage | https://ninetyone.com/en/united-kingdom |
| Fax number | +44 (0) 203 938 1900 |
Dealing
| Minimum Investment | £1000000 |
| Minimum Top Up | £250000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 3 days |
| Settlement Period: Sell | 3 days |
| Pricing Basis | Forward |
| Dealing Decimals | 3 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | 9.54 |
| Beta | 1.18 |
| Sharpe | 0.72 |
| Standard Deviation | 16.02 |
| Info Ratio | 1.28 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | No |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | No |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | Yes |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Derivative Exposure
The fund invests in derivatives as part of its investment strategy, over and above their use for Efficient Portfolio Management (EPM). Investors should be aware that the use of these instruments can, under certain circumstances, increase the volatility and risk profile of the Fund beyond that expected of a fund that only invests in equities. The fund may also be exposed to the risk that the company issuing the derivative may not honour their obligations which in turn could lead to losses arising.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
'Prudential' is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.