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AXA Framlington American Growth Fund

ISIN GB0003509212

Last NAV 8.5490 GBP as of 14/02/20

Overview

Investment objectives

The aim of this Fund is to provide long-term capital growth.

Risk

Synthetic Risk & Reward Information scale

1 2 3 4 5 SRRI Value 6 7

The risk category is calculated using historical performance data and may not be a reliable indicator of the Fund's future risk profile. The risk category shown is not guaranteed and may shift over time The lowest category does not mean risk free.

Why is this Fund in this category?

The capital of the Fund is not guaranteed. The Fund is invested in financial markets and uses techniques and instruments which may be subject to sudden and significant variation, which may result in substantial gains or losses.

Investment horizon

This Fund may not be suitable for investors who plan to withdraw their contribution within five years.

Main documents

KIID 13/08/2019

Fund manager comment : 31/12/19

Main changes to the portfolio during December No major changes to the portfolio were made in December. Factors affecting performance during December The Fund marginally underperformed its comparative benchmark, the Russell 1000 Growth Index, over the month. This was largely driven by profit taking in several of our healthcare holdings, such as DexCom and Edwards Lifesciences, which enjoyed strong gains in 2019. Current market influences and outlook The US equity market continued to rally in December as investors became increasingly confident on the outlook for the economy. Sentiment was further boosted by optimism that the US and China could reach an interim agreement in the trade war. Consumer and business confidence levels remain high, unemployment is low and wages rising. Most importantly, forward-looking credit indicators continue to demonstrate credit availability is high suggesting an end to the current economic expansion is not imminent. We also believe that a recent shift in the language emanating from the US Federal Reserve (Fed) is highly significant. Following the latest interest rate cut at the end of October, Fed Chairman Powell stated that interest rates are not going to be increased again until inflation overshoots its longstanding 2% target by a substantial margin. Given that inflation has struggled to reach this level during the 11 years of the current expansion, we believe that the likelihood of interest rate increases by the Fed has been pushed out by a number of years. Stable interest rates and an ongoing economic expansion should be positive for equity markets We expect the current slow, steady economic expansion to continue for several years. Growth stocks remain well positioned in such an environment.

Performance

Performance chart

Period

1M
3M
6M
1Y
3Y
5Y
8Y
10Y
YTD
Since launch

Start date

End date

Any performance shown is net of the ongoing charge for the share class selected with income reinvested . Past performance is not a guide to future performance. The value of investments can fall as well as rise and you may get back less than invested. The fund can use derivatives for investment purposes.  These instruments may cause periods of high volatility in the price of the shares of the fund.

Benchmark

Reference index Start date End date
- - -

Performance table

End date

Performance table Net performance Reference index Start date End date
- - - - -
1M - - - -
QTD - - - -
3M - - - -
6M - - - -
YTD - - - -
1Y - - - -
2Y - - - -
3Y - - - -
4Y - - - -
5Y - - - -
8Y - - - -
10Y - - - -
Since launch - - - -
Y-1 - - - -
Y-2 - - - -
Y-3 - - - -
Y-4 - - - -
Y-5 - - - -

Risk table

End date

Risk table Fund volatility Benchmark volatility Tracking error Information ratio Sharpe ratio Beta Alpha
1M - - - - - - -
QTD - - - - - - -
3M - - - - - - -
6M - - - - - - -
YTD - - - - - - -
1Y - - - - - - -
3Y - - - - - - -
5Y - - - - - - -
8Y - - - - - - -
10Y - - - - - - -
Since launch - - - - - - -

Price table

Start date

End date

Price Date Portfolio AUM
- - -

NAV

First NAV date 23/12/92

Administration

Distribution country

Distribution countries
United Kingdom

Fees

Ongoing Charges 1.57%

Fund facts

Currency GBP
Start date 23/12/92
Asset class FRAMLINGTON EQUITIES
RI fund False
Legal authority Financial Conduct Authority

Portfolio management

Fund Manager Stephen KELLY
Co-manager David SHAW
Investment team MT Framlington Thematic Equity

Structure

Investment area USA
Legal form Unit Trust

Subscription and redemption

Your orders to buy, sell or transfer units in the Fund must be received by the Administrator by 12 noon on any working day, to receive that days Fund price. Please note that if your order is placed by an intermediary or Financial Adviser they may require extra processing time.The Net Asset Value of this Fund is calculated on a daily basis. Minimum initial investment: £1,000 Minimum subsequent investment: £100

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