AXA Framlington American Growth Fund

ISIN GB00B5LXGG05

Last NAV 3.5080 GBP as of 19/09/19

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.

Fund manager comment : 31/08/19

Main changes to the portfolio during August We initiated new positions in Five9, a leading provider of cloud-based software for call centres, and search and analytics platform Elastic. We exited Pioneer Natural Resources. Factors affecting performance during August The Fund underperformed its comparative benchmark, the Russell 1000 Growth Index, over the month. The underperformance was largely driven by poor performance from a couple of financial services holdings, namely Alliance Data Systems and Kemper. Current market influences and outlook Equity markets fell in August, with a further escalation in the trade dispute with China, as well as a market perception that the US Federal Reserve (Fed) was reluctant to cut rates over and above its announced 25 basis points. US President Donald Trump announced new tariffs on Chinese imports, although the implementation of some of these tariffs have been delayed. At month-end, markets took some respite in the news from the US that a new round of trade talks would take place with China. While such actions are undoubtedly unhelpful for many areas of the economy and will have a detrimental impact on the rate of growth, we do not believe they are sufficient to cause a recession. Forward-looking credit indicators continue to demonstrate credit availability is high, and with further rate cuts by the US Federal Reserve likely, the situation is unlikely to deteriorate sufficiently to result in negative growth. Declining interest rates in a non-recessionary environment have historically been positive for equity markets, and 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

Fees

Ongoing Charges 0.82%

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: £100,000 Minimum subsequent investment: £5,000

Literature