Munro Fund Objective -
To deliver an optimised risk adjusted return from UK equities.
Munro Fund Process -
The fund uses consensus forecast gross cash dividends for each constituent company, in relation to
the total for the index, to determine the size of each holding. Using a fundamental measure, rather
than price (market capitalisation) as with most index funds, gives it a value bias. This model bridges
the gap between active and passive funds and could be described as Smart Beta. The model is rebalanced every month to incorporate
changes to dividend forecasts and the fund is reconciled to the model every day to exploit volatility.
Now available through Hargreaves Lansdown on its low cost flat fee basis of £2 a month
The Munro UK Dividend Fund does not lend out stock, charge performance fees or use derivatives.
It is a long only fully authorised OEIC.
The annual management charge on the X class is 0.5%.
The current dividend yield on the X class income shares is 4.6%.
The minimum investment in X Class shares is £250.
Latest Fact Sheet
Munro Fund Blog Pages
Munro Fund Prices
Tuesday 21st May
British Land and Oxford Properties
announced that their 50:50 joint venture has exchanged a binding Agreement for
Lease with Amlin plc for a pre-letting of 110,000 sq ft (approximately 20% of
the total) at The Leadenhall Building, London, EC3.
Big Yellow Group announced adjusted
pre-tax profit of £25.5m for the year ending, up 8% from the previous year. The
dividend for the year was 11p per share, up from 10p per share in the previous
Burberry stated that the full-year
dividend was up 16% to 29p per share. Adjusted full-year pre-tax profit was
£428m, up 14%.
Vectura said that the loss before tax
decreased by 21% to £10.4m.
HomeServe announced adjusted full-year
pre-tax profits of £105m, down from £126m in the previous year. The full-year
dividend is 11.3p per share, unchanged from the previous year.
bwin.party digital said revenue was
down 17% to E180m in the first quarter.
Invensys announced the return of £625m
of the company's cash proceeds to its shareholders.
Marks and Spencer Group reported that
the full-year dividend will remain unchanged at 17p per share. Statutory profit
before tax was £564m, down from £658m in the previous year.
Vodafone stated that adjusted
operating profit was above guidance at £12bn, up 9.3% from the previous year.
The total dividends for the year are 10.19p per share, up 7%.
Carnival announced a profit warning, it now expects earnings per share to be about $1.45
to $1.65, down from $1.80 to $2.10.
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Past performance is not a guide to future returns. The value of investments and the income from them may go down as well as up and is not guaranteed. An investor may not get back the amount originally invested.
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