Performance (Growth)
Performance (Income)
| Cumulative performance | 1 month | Year to date | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|---|
| NAV - Growth | -0.83 |
-0.83 |
20.21 |
30.03 |
85.01 |
| Share price - Growth Shares | -0.76 |
-0.76 |
15.49 |
29.21 |
82.52 |
| NAV - (Income) | -0.55 |
-0.55 |
0.78 |
10.63 |
50.23 |
| Share price - Income Shares | 0.00 |
0.00 |
-5.16 |
7.86 |
45.12 |
| Benchmark | -0.81 |
-0.81 |
-7.55 |
-1.60 |
31.47 |
Past performance is not a guide to future performance.
Source: Lipper. Basis: share price, percentage growth, bid to bid, net income reinvested expressed in Sterling. Basis in accordance to the regulations of the FCA.
The cumulative performance table refers to cumulative periods ending. 29.01.2021
NAV – Net Asset Value. This is the value of the fund’s assets (e.g. investments, stocks, shares, bonds) less its liabilities (i.e. costs that need to be paid out of the value of the fund)
| Discrete annual performance | 21/20 | 20/19 | 19/18 | 18/17 | 17/16 |
|---|---|---|---|---|---|
| NAV - (Growth) | 20.21 |
10.24 |
-1.88 |
19.58 |
18.98 |
| Share price - Growth Shares | 15.49 |
14.72 |
-2.48 |
20.60 |
17.13 |
| NAV - (Income) | 0.78 |
12.78 |
-2.66 |
13.10 |
20.07 |
| Share price - Income Shares | -5.16 |
17.15 |
-2.93 |
14.37 |
17.65 |
| Benchmark | -7.55 |
10.67 |
-3.83 |
11.28 |
20.06 |
Note: The performance figures shown here will differ to those shown in the Key Information Document (KID) as they are based on actual past performance data. The performance information in the KID is presented on a forward-looking basis using economic models based on historical prices and volatility of the product (as prescribed by regulations).
Benchmark: The FTSE All-Share Index
The value of your investments and any income from them can go down as well as up and you may not get back the original amount invested. Gearing is used for investment purposes to obtain, increase or reduce exposure to an asset, index or investment. The use of gearing can enhance returns to investors in a rising market, but if the market falls the losses may be greater.
| Top Ten Holdings | % of net assets | Sector |
|---|---|---|
Monks Investment Trust |
4.9 |
Global |
Allianz Technology Trust |
4.8 |
Tech Media & Telecomm |
Scottish Mortgage Investment Trust |
4.6 |
Global |
Polar Capital Technology Trust |
3.8 |
Tech Media & Telecomm |
HgCapital Trust |
3.3 |
Private Equity |
Edinburgh Worldwide Investment Trust |
3.3 |
Global |
Impax Environmental Markets |
3.2 |
Environmental |
Heral Investment Trust |
3.2 |
Small Media, Comms & IT Cos |
Worldwide Healthcare Trust |
3.1 |
Biotechnology & Healthcare |
BH Macro |
2.9 |
Hedge Funds |
| Top Ten Holdings | % of net assets | Sector |
|---|---|---|
BB Healthcare Trust |
4.3 |
Biotechnology & Healthcare |
HBM Healthcare Investments |
4.0 |
Biotechnology & Healthcare |
BB Biotech |
4.0 |
Biotechnology & Healthcare |
Law Debenture Corporation |
3.6 |
Global |
JPMorgan Global Growth & Income |
3.5 |
Global Equity Income |
Scottish American Investment Company |
3.5 |
Global Equity Income |
NB Private Equity Partners |
3.4 |
Private Equity |
3i Infrastructure |
3.2 |
Infrastructure |
Hipgnosis Songs Fund |
3.2 |
Tech Media & Telecomm |
Princess Private Equity Holding |
3.2 |
Private Equity |
As at 29 January 2021
| Financial year to 31 May | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|
October - 1st interim |
1.4p |
1.35p |
1.3p |
1.25p |
1.2p |
1.15p |
January - 2nd interim |
1.4p |
1.35p |
1.3p |
1.25p |
1.2p |
1.15p |
April - 3rd interim |
1.4p |
1.35p |
1.3p |
1.25p |
1.2p |
1.15p |
July - special interim |
- |
- |
0.8 |
- |
- |
- |
July - 4th interim |
1.9p |
1.9p |
1.8p |
1.70p |
1.6p |
1.55p |
Total annual dividend |
6.1p |
5.95p |
6.5p |
5.45p |
5.2p |
5.0p |
Dividend yield ± |
5.2% |
4.4% |
4.1%* |
3.9% |
4.6% |
3.9% |
Yield on FTSE All-Share index (at 31 May) |
4.8% |
4.3% |
3.6% |
3.5% |
3.75% |
3.3% |
*Based on dividends at the 2018 annual rate of 5.7p per Income share (excluding the special delivery of 0.8p per Income share).
± Based on the Income share price at 31 May
Subject to certain minimum and maximum thresholds which may be set by the Board of BMO Managed Portfolio Trust PLC (the “Board”) from time to time, shareholders have the right to convert their Income shares into Growth shares and/or their Growth shares into Income shares upon certain dates, the next of which will be 29 October 2020 and then annually or close to annually thereafter (subject to the Articles of Association of the Company). Under current law, such conversions will not be treated as disposals for UK capital gains tax purposes.
The Board may, in its sole and absolute discretion, specify a minimum number of converting shares which are to be converted by a shareholder in the case of either the Income shares or Growth Shares.
The minimum amount for the 29 October 2020 Conversion is 1,000 shares per shareholder or the whole shareholding, whichever is lower.
The Board will specify a minimum net value of assets to be transferred from a Portfolio on any Conversion date, and may change any such minimum from time to time. If on any Conversion Date, the value of the assets to be so transferred is less than such specified minimum, then the Board may, in its sole and absolute discretion, cancel any such conversion.
The minimum net value of assets in aggregate for the 29 October 2020 Conversion is £250,000.
A significant minimum has to be set in order to justify the costs of the exercise.
The Board may set a maximum number of Growth shares or Income shares which may be converted on any Conversion Date and may change such maximum from time to time. If on a Conversion date, the number of Growth shares or Income shares for which conversion notices have been delivered would exceed the limit, the shares will be reduced pro rata.
The maximum amount for the 29 October 2020 Conversion is 10% of the Income shares and 10% of the Growth shares in issue.
Shares will be converted into the other share class by reference to the ratio of the relative underlying NAVs of the Growth shares and Income shares (as set out in more detail in the Company’s Articles of Association).
Only the Income shareholders are entitled to receive dividends. The Company shall announce the Conversion Ratio applicable on the Conversion Date or Deferred Conversion Date and the number of resulting shares.
The Board has discretion to defer the Conversion Date, inter alia, in the event that the level of conversions is above a certain materiality threshold in order to facilitate realignment of the Company’s portfolios in order to effect the conversions in as effective a manner as possible. The Deferred Conversion Date will under normal circumstances not be more than one month later than the originally stated Conversion Date.
It is anticipated that, within nine working days of the Conversion Date or the Deferred Conversion Date, the Company will send:
No share certificates will be issued in respect of any deferred shares arising as a result of the conversion. These deferred shares have no economic value and will be transferred to a nominee holder and bought back for nil consideration by the Company and cancelled in accordance with the Company’s Articles of Association.
Income shares arising on Conversion will carry the right to receive all dividends declared by reference to a record date falling after the Conversion Date or Deferred Conversion Date. Income shares which are converted into Growth shares will carry the right to receive all dividends declared by reference to a record date falling prior to the Conversion Date or Deferred Conversion Date but not on or thereafter.
Please note, if you elect to convert from Income shares to Growth shares no further income in respect of these Income shares will be paid to you.
The mid market price for the Income shares and Growth shares on the first dealing day in each of the last six months, and 4 August 2020, being the latest practicable date before the approval of the Annual report and accounts were:
| Income shares (p) | Growth shares (p) | |
|---|---|---|
3 February 2020 |
143.0 |
225.0 |
2 March 2020 |
127.5 |
198.0 |
1 April 2020 |
100.0 |
170.0 |
1 May 2020 |
113.5 |
194.0 |
1 June 2020 |
118.0 |
213.0 |
1 June 2020 |
118.0 |
213.0 |
1 July 2020 |
119.5 |
218.0 |
4 August 2020 |
120.5 |
222.0 |
This is not a recommendation to convert, or not to convert, any of your shares.
| Timetable | 2020 |
|---|---|
Record date for 1st interim dividend (Income shares) |
18 September |
Latest time for lodging of Conversion Instruction Form (for shares held within any investment product managed or marketed by BMO Asset Management Limited) |
5pm on 25 September |
Latest time for conversion instructions for shares in Uncertificated form (CREST) |
1pm on 2 October |
Latest time for lodging of Certificated Conversion Form |
5pm on 2 October |
Conversion Date |
29 October |
Calculation Time |
Close of business on 29 October |
CREST accounts credited |
5 November |
New certificates dispatched |
11 November (or as soon as practicable thereafter) |
It is intended that following the next conversion on 29 October 2020 the conversion facility will be offered annually or close to annually thereafter.
This is not a recommendation to convert, or not to convert, any of your shares.
The conversion facility is not available to overseas shareholders except where appropriate confirmation has been provided to the Directors and the Directors are satisfied that it would be lawful for the conversion facility to apply under the relevant overseas laws and regulations.
If you hold your shares:
The TTE Message instruction must be properly authenticated in accordance with CREST’s specifications and must contain, in addition to the other information that is required for settlement in CREST, the following details:
CREST members and (where applicable) the CREST sponsors should not that the last time at which a TTE Message instruction may be settled is 1.00pm on 2 October 2020.
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