defensive income - brooks macdonald/media/files/b/... · defensive income 28.02 ... the value of...

MPSHigh Risk PortfolioGrowth30.04.2018Platform

Objective

The objective of the portfolio is to grow its value, primarily by investing in equity markets. Equity exposure is likely to range between 90-100%. The portfolio is likely to be fully invested at all times in equities that produce capital growth, with particular emphasis on international equities and on investments that borrow money (leverage) in order to achieve a higher potential investment return. Investing in international equities, which exposes the portfolio to currency fluctuations, and investment techniques that involve borrowing money, both substantially increase the risk that the portfolio represents.

Key Facts

Inception date* June 2014

No. of holdings (incl. cash) 22

Currency £

Overall portfolio yield 1.58%

Charges

Platforms provide a convenient way of holding and reporting on investments in your MPS portfolio.

Platform charges are made to pay for these services by platform providers Please refer to your platform of choice directly for the applicable fees, costs and charges.

Underlying charges may apply which will vary according to the specific assets within the MPS portfolio (for example internal fund manager charges on funds held within MPS).

Performance

Past performance data is not representative of past performance on different platforms: The past performance data detailed below relates to the Managed Portfolio Service (MPS) using Morningstar/‡MSCI WMA information. The past performance does not represent actual or simulated past performance of the MPS on all platforms. This is because MPS on platforms will vary in portfolio composition due to the differing availability of investments on different platforms.

Performance (%)

May-14 Nov-14 May-15 Nov-15 May-16 Nov-16 May-17 Nov-17

-10

0

10

20

30

40

50

MPS High Risk (Growth) ‡MSCI WMA Growth TR Consumer Price Index (CPI)

The value of investments can go down as well as up and you may get back less than you invested.

Consumer Price Index (CPI) refers to the CPI All Items Index. The data for CPI is as at 31.03.18.

12-month performance to 30 April (%) 2014 2015 2016 2017 2018

MPS High Risk (Growth) -- -- -3.31 21.21 9.94

‡MSCI WMA Growth TR -- -- -2.36 21.46 6.57

Relative performance -- -- -0.95 -0.25 3.37

Cumulative performance to 30.04.2018 (%) 3M 6M 1Y 3Y 5Y

Since inception*

MPS High Risk (Growth) -0.22 1.94 9.94 28.85 -- 46.27

‡MSCI WMA Growth TR -0.52 1.03 6.57 26.39 -- 38.50

Relative performance 0.30 0.91 3.37 2.46 -- 7.77

Past performance is not a reliable indicator of future results.Sources: Brooks Macdonald/Morningstar/‡MSCI WMA to 30.04.18. All performance figures shown on this factsheet are net of underlying fund charges but gross of Brooks Macdonald’s management fees and adviser charges. Deduction of these fees and charges will impact on the performance shown.

MPSHigh Risk PortfolioGrowth

For more details regarding this portfolio or the MPS range please contact your professional adviser

Important informationThis document is intended for professional advisers authorised to give financial advice only and should not be relied upon by any persons who do not have professional experience in matters relating to investments.

Brooks Macdonald is responsible for managing the MPS model portfolio on a discretionary basis in accordance with the stated investment objectives and risk profile for the MPSportfolio. The professional adviser is responsible for advising the client as to the selection of an MPS portfolio and for assessing the suitability of the chosen MPS portfolio for the client on an ongoing basis.

Please note that changes made within each risk portfolio will affect all clients within that profile simultaneously.‡MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not befurther redistributed or used as a basis for other indexes or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

© FinaMetrica Pty Ltd.Risk tolerance scores were mapped to the funds’ strategic asset allocations as at 30.06.17. The mappings are only for use by financial advisers licensed to use FinaMetrica’s risk profiling system and do not constitute financial advice. Financial advisers must satisfy themselves that the funds’ current asset allocations reflect the risk/return expectations of the funds when mapped. Brooks Macdonald does pay FinaMetrica for the mappings in the table however these mappings are calculated independently by FinaMetrica. The stated ‘DT risk level’ is the risk level attributed to the model portfolio by a third party, Distribution Technology Limited (“DT”) following DT’s analysis. The stated ‘DT risk level’ is valid as at the stated date; however, market fluctuations can mean the level of risk in the portfolio might change over time. Brooks Macdonald has not verified the risk level attributed to the model portfolio by DT and makes no warranty as to its accuracy. Accordingly, Brooks Macdonald will not accept any liability arising from any reliance on the stated DT risk level.

This service is provided by Brooks Macdonald Asset Management Limited which is authorised and regulated by the Financial Conduct Authority. Registered in England No 3417519. Registered office: 72 Welbeck Street, London, W1G 0AY.

Investors should be aware that the price of investments and the income from them can go down as well as up and that neither is guaranteed. Investors may not get back the amount invested. Changes in rates of exchange may have an adverse affect on the value, price or income of an investment. Investors should be aware of the additional risks associated with funds investing in smaller companies.

Past performance is not a reliable indicator of future results. All performance figures shown on this factsheet are net of underlying funds' OCF but gross of Brooks Macdonald’s management fees and adviser charges. Deduction of these fees and charges will impact on the performance shown.

The information in this document does not constitute advice or a recommendation and you should not make any investment decisions on the basis of it. This document is for the information of the recipient only and should not be reproduced, copied or made available to others. Brooks Macdonald, its subsidiaries and/or their officers, directors and employees may also own and trade in the underlying assets.

Brooks Macdonald is a trading name of Brooks Macdonald Group plc used by various companies in the Brooks Macdonald group of companies. Brooks Macdonald Group plc is registered in England No 4402058. Registered office: 72 Welbeck Street, London, W1G 0AY.

BMAM Apr - 18

Brooks Macdonald investment team

Jonathan Webster-SmithDirector,Head of Multi-Asset

Mark ShieldsInvestment Director,Multi-Asset

Jim MackieInvestment Director,Multi-Asset

Frank AtkinsInvestment Manager,Multi-Asset

Alex ChittendenInvestment Manager, Multi-Asset

Ratings and awards

This portfolio was analysed by Distribution Technology in Apr 2018 as having a DT risk level of 7.

Overall sector breakdown

UK Equities

North American Equities

European Equities

Japan/Far East/Emerging Market Equities

International & Thematic Equities

Hedge Funds & AlternativesCash

32.76%

20.39%

5.90%

15.05%

20.80%

2.81%2.29%

Portfolio holdingsFund %

JOHCM UK Equity Income Fund 5.07

Liontrust Special Situations Fund 8.47

Liontrust UK Micro Cap Fund 2.12

Old Mutual UK Smaller Com Focus 4.04

Troy Trojan Income Fund 5.01

Vanguard FTSE UK All Share Index UT 8.05

Fidelity Index US Fund 9.82

Hermes US Smid Equity Fund 4.84

JPM US Equity Income Fund (Hedged) 2.85

Vanguard US Equity Index Fund 2.88

JOHCM Continental European 2.95

LF Miton European Opportunities Fund 2.95

Baillie Gifford Emerging Markets Gr Fd 3.83

Baillie Gifford Japanese Smaller Coms Fd 6.41

Schroder ISF Asian Total Return 4.81

Fundsmith Equity 2.95

Polar Capital Healthcare Opps 2.99

River and Mercantile World Recovery Fund 4.81

Schroder Glbl Quant Core Eq 3.95

SLI Global Smaller Companies Fund 6.10

City Financial Absolute Equity Fund 2.81

Cash (£) 2.29

http://www.riskprofiling.com/How-it-Works

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MPSHigh Risk PortfolioIncome and Growth30.04.2018Platform

Objective

The objective of the portfolio is to generate both income and capital growth, primarily from investing in equity markets. The portfolio is likely to be fully invested (between 90-100%) at all times in UK and international equities, with a focus on equities that produce income.

Key Facts

Inception date* December 2014


Currency £


Charges




Performance


Performance (%)

Nov-14 May-15 Nov-15 May-16 Nov-16 May-17 Nov-17

-10

-5

0

5

10

15

20

25

30

35

40

MPS High Risk (Income and Growth) ‡MSCI WMA Growth TR

Consumer Price Index (CPI)




MPS High Risk (Income and Growth) -- -- -2.63 19.02 8.35


Relative performance -- -- -0.27 -2.44 1.78


Since inception*

MPS High Risk (Income and Growth) 0.03 1.95 8.35 25.58 -- 33.80


Relative performance 0.55 0.92 1.78 -0.81 -- 1.19


MPSHigh Risk PortfolioIncome and Growth











BMAM Apr - 18







Ratings and awards



UK Equities


European Equities



Hedge Funds & AlternativesCash

32.53%

20.44%

5.92%

15.26%

20.42%

2.93%2.49%




Liontrust UK Micro Cap Fund 2.11

Majedie UK Income Fund 4.21


Royal London UK Equity Income Fund 3.00

SLI UK Equity Income Unconstrained Fund 4.96






Schroder European Alpha Inc Fund (Hedged) 2.97

Schroder European Alpha Income Fund 2.95


Magna Emerging Markets Dividend Fund 3.89


Artemis Global Income Fund 6.75

Guinness Global Equity Income 6.85

Newton Global Income Fund 6.82

City Financial Absolute Equity Fund 2.93

Cash (£) 2.49



MPSLow Risk Portfolio Defensive Income30.04.2018Platform

Objective

The primary objective of this portfolio is to produce a higher level of income than the Bank of England base rate over the longer term by investing in a range of relatively defensive diversified UK and international investments. Equity exposure is likely to range between 0-30% and is likely to be limited to shares in companies paying higher than average dividends.

Key Facts



Currency £


Charges




Performance


Performance (%)

Nov-13 May-14 Nov-14 May-15 Nov-15 May-16 Nov-16 May-17 Nov-17

-5

0

5

10

15

20

25

MPS Low Risk (Defensive Income) 50:50 ‡MSCI WMA Income TR/Base Rate





MPS Low Risk (Defensive Income) -- 6.89 0.16 7.72 2.40

50:50 ‡MSCI WMA Income TR/Base Rate -- 5.41 -0.12 8.08 2.78

UK Bank Rate -- 0.50 0.50 0.32 0.37

Relative performance -- 1.48 0.28 -0.36 -0.38


Since inception*

MPS Low Risk (Defensive Income) -0.71 -0.38 2.40 10.49 -- 20.81

50:50 ‡MSCI WMA Income TR/Base Rate 0.01 0.69 2.78 10.96 -- 18.09

UK Bank Rate 0.12 0.25 0.37 1.19 -- 1.87

Relative performance -0.72 -1.07 -0.38 -0.47 -- 2.72


MPSLow Risk Portfolio Defensive Income











BMAM Apr - 18







Ratings and awards



UK Fixed Interest

International Fixed Interest

UK Equities



Hedge Funds & Alternatives

Structured Return

Cash

21.89%

23.73%

12.38%

3.95%

14.02%

10.83%

6.00%

7.19%


Fidelity MoneyBuilder Income Gross Fund 7.95

PIMCO Sel UK Income Bond Fund 6.99

Royal London Sterling Credit Fund 6.95

Artemis Strategic Bond Fund 4.91

M&G Optimal Income Fund 2.99

AXA US Short Duration High Yield Fund 4.98

Hermes Multi Strategy Credit Fund 2.93

JPM Unconstrained Bond Fund 7.92







Lazard Global Listed Infras Eq Fd 5.01


Aviva Investors Multi-Strat Trgt Inc Fd 4.86

Legg Mason WA Macro Opportunities Bd Fd 2.96

Neuberger Berman Uncorrelated Strats Fd 3.01

IFSL Brooks Macdonald Defensive Cptl Fd 6.00

Cash (£) 7.19



MPSLow-to-Medium Risk PortfolioGrowth30.04.2018Platform

Objective

The objective of this portfolio is to provide capital growth. The portfolio gives limited exposure to capital markets through a diversified range of UK and international investments and aims to achieve above inflation investment returns over the longer term. Equity exposure is likely to range between 30-55% with limited exposure to international investments.

Key Facts



Currency £


Charges




Performance


Performance (%)


-5

0

5

10

15

20

25

30

35

40

45

MPS Low-to-Medium Risk (Growth) ‡MSCI WMA Income TR





MPS Low-to-Medium Risk (Growth) -- 10.31 0.24 12.95 4.34

‡MSCI WMA Income TR -- 10.47 -0.83 16.29 5.17

Relative performance -- -0.16 1.07 -3.34 -0.83


Since inception*

MPS Low-to-Medium Risk (Growth) -0.12 0.42 4.34 18.13 -- 31.51

‡MSCI WMA Income TR -0.13 1.09 5.17 21.28 -- 36.32

Relative performance 0.01 -0.67 -0.83 -3.15 -- -4.81


MPSLow-to-Medium Risk PortfolioGrowth











BMAM Apr - 18







Ratings and awards



UK Fixed Interest


UK Equities


European Equities




Structured Return

Cash

15.92%

14.80%

17.61%

8.83%

4.05%

4.44%

13.75%

7.84%

6.02%

6.74%




Royal London Sterling Credit Fund 4.99



Vanguard Global Bond Index Fund 3.90







RWC European Fund 2.01







Old Mutual Global Equity Absolute Ret Fd 5.05


Cash (£) 6.74



MPSLow-to-Medium Risk PortfolioIncome30.04.2018Platform

Objective

The primary objective of this portfolio is to produce a higher level of income than inflation. The portfolio gives limited exposure to capital markets through a diversified range of UK and international investments. Equity exposure is likely to range between 30-55% with limited exposure to international investments.

Key Facts



Currency £


Charges




Performance


Performance (%)


-5

0

5

10

15

20

25

30

35

40

45

MPS Low-to-Medium Risk (Income) ‡MSCI WMA Income TR





MPS Low-to-Medium Risk (Income) -- 8.71 -0.48 13.77 2.86




Since inception*

MPS Low-to-Medium Risk (Income) -0.96 -0.26 2.86 16.46 -- 28.99


Relative performance -0.83 -1.35 -2.31 -4.82 -- -7.33


MPSLow-to-Medium Risk PortfolioIncome











BMAM Apr - 18







Ratings and awards



UK Fixed Interest


UK Equities


European Equities




Structured Return

Cash

14.89%

14.92%

17.56%

6.85%

3.99%

5.94%

15.67%

10.36%

2.99%

6.85%



IP Corporate Bond Fund 7.02



Hermes Multi Strategy Credit Fund 2.99









L&G Asian Income Trust 5.94







M&G Global Convertibles Fund 3.54

Cash (£) 6.85



MPSLow-to-Medium Risk PortfolioIncome and Growth30.04.2018Platform

Objective

The objective of this portfolio is to provide a combination of income and capital growth. The portfolio gives limited exposure to capital markets through a diversified range of UK and international investments and aims to achieve above inflation investment returns over the longer term. Equity exposure is likely to range between 30-55% with limited exposure to international investments.

Key Facts



Currency £


Charges




Performance


Performance (%)


-5

0

5

10

15

20

25

30

35

40

45

MPS Low-to-Medium Risk (Income and Growth) ‡MSCI WMA Income TR





MPS Low-to-Medium Risk (Income and Growth) -- 9.83 0.99 13.14 3.57




Since inception*

MPS Low-to-Medium Risk (Income and Growth) -0.50 0.15 3.57 18.34 -- 32.22


Relative performance -0.37 -0.94 -1.60 -2.94 -- -4.10


MPSLow-to-Medium Risk PortfolioIncome and Growth











BMAM Apr - 18







Ratings and awards



UK Fixed Interest


UK Equities


European Equities

Japan/Far East/Emerging …



Structured Return

Cash

15.88%

11.90%

17.60%

6.84%

3.97%

3.95%

13.67%

12.55%

6.04%

7.60%




















Investec Diversified Income Fund 3.95



Cash (£) 7.60



MPSLow-to-Medium Risk PortfolioIncome and Growth (Passive)30.04.2018Platform

Objective

The objective of this portfolio is to provide a combination of income and capital growth. The portfolio gives limited exposure to capital markets through a diversified range of UK and international investments and aims to achieve above inflation investment returns over the longer term. Equity exposure is likely to range between 30-55% with limited exposure to international investments.

Key Facts

Inception date* September 2017


Currency £


Charges




Performance


Performance (%)

Aug-17 Nov-17 Feb-18

-2

-1.5

-1

-0.5

0

0.5

1

1.5

2

2.5

3

‡MSCI WMA Income TR Consumer Price Index (CPI)




MPS Low-to-Medium Risk (Income and Growth (Passive)) -- -- -- -- --

‡MSCI WMA Income TR -- -- -- -- --

Relative performance -- -- -- -- --


Since inception*

MPS Low-to-Medium Risk (Income and Growth (Passive)) -- -- -- -- -- --

‡MSCI WMA Income TR -- -- -- -- -- --

Relative performance -- -- -- -- -- --


MPSLow-to-Medium Risk PortfolioIncome and Growth (Passive)











BMAM Apr - 18







Ratings and awards



UK Fixed Interest


UK Equities


European Equities

Japan/Far East/Emerging …



Structured Return

Cash

15.66%

11.84%

17.45%

6.93%

4.00%

4.05%

13.92%

12.86%

6.30%

6.99%


L&G Sterling Corporate Bond Index Fund 15.66


HSBC FTSE 250 Index Fund 6.03



L&G European Index Trust 4.00

Vanguard Pacific ex-Japan Stock Index Fd 4.05

Fidelity Index World Fund 13.92



AHFM Defined Returns 6.30

Cash (£) 6.99



MPSMedium Risk PortfolioIncome30.04.2018Platform

Objective

The primary objective of this portfolio is to produce a higher level of income than MSCI United Kingdom Index. The portfolio is designed to produce a regular income with the potential to grow its capital value over the longer term. The portfolio will primarily seek income producing investments which may reduce the scope for capital growth. Equity exposure is likely to range between 55-75%.

Key Facts



Currency £


Charges




Performance


Performance (%)


-5

0

5

10

15

20

25

30

35

MPS Medium Risk (Income) ‡MSCI WMA Balanced TR Consumer Price Index (CPI)




MPS Medium Risk (Income) -- -- -1.16 14.63 5.42

‡MSCI WMA Balanced TR -- -- -1.60 18.93 5.54

Relative performance -- -- 0.44 -4.30 -0.12


Since inception*

MPS Medium Risk (Income) -0.31 1.04 5.42 19.44 -- 25.88

‡MSCI WMA Balanced TR -0.32 1.00 5.54 23.52 -- 29.20

Relative performance 0.01 0.04 -0.12 -4.08 -- -3.32


MPSMedium Risk PortfolioIncome











BMAM Apr - 18







Ratings and awards



UK Fixed Interest


UK Equities


European Equities




Structured Return

Cash

8.92%

4.80%

22.79%

11.71%

5.93%

9.05%

17.64%

7.44%

5.98%

5.75%




MI TwentyFour AM Dynamic Bond Fund 4.80







JPM US Equity Income Fund 2.93




JOHCM Japan Fund 5.13





Polar Capital Funds Plc - Gobal Tech Fund 1.90



M&G Global Convertibles Fund 3.53

Cash (£) 5.75



MPSMedium Risk PortfolioIncome and Growth30.04.2018Platform

Objective

The primary objective of this portfolio is to generate income and capital growth over the longer term. The portfolio will give significant exposure to a range of UK and international investments. Equity exposure is likely to range between 55-75%.

Key Facts



Currency £


Charges




Performance


Performance (%)


-5

0

5

10

15

20

25

30

35

40

45

MPS Medium Risk (Income and Growth) ‡MSCI WMA Balanced TR





MPS Medium Risk (Income and Growth) -- 11.71 -2.04 17.09 7.53

‡MSCI WMA Balanced TR -- 11.28 -1.60 18.93 5.54

Relative performance -- 0.43 -0.44 -1.84 1.99


Since inception*

MPS Medium Risk (Income and Growth) 0.09 1.41 7.53 23.34 -- 37.20

‡MSCI WMA Balanced TR -0.32 1.00 5.54 23.52 -- 39.24

Relative performance 0.41 0.41 1.99 -0.18 -- -2.04


MPSMedium Risk PortfolioIncome and Growth











BMAM Apr - 18







Ratings and awards



UK Fixed Interest


UK Equities


European Equities




Structured Return

Cash

8.72%

4.80%

22.49%

11.70%

5.94%

9.17%

18.02%

6.87%

5.90%

6.39%







River and Mercantile UK Eq Smlr Coms Fd 1.98












Polar Capital Funds Plc - Gobal Tech Fund 2.03






Cash (£) 6.39



MPSMedium Risk PortfolioIncome and Growth (Passive)30.04.2018Platform

Objective

The primary objective of this portfolio is to generate income and capital growth over the longer term. The portfolio will give significant exposure to a range of UK and international investments. Equity exposure is likely to range between 55-75%.

Key Facts

Inception date* June 2011


Currency £


Charges




Performance


Performance (%)

Apr-13 Oct-13 Apr-14 Oct-14 Apr-15 Oct-15 Apr-16 Oct-16 Apr-17 Oct-17 Apr-18

-10

0

10

20

30

40

50

MPS Medium Risk (Income and Growth (Passive)) ‡MSCI WMA Balanced TR





MPS Medium Risk (Income and Growth (Passive)) 4.97 13.24 -3.05 18.19 5.35

‡MSCI WMA Balanced TR 5.69 11.28 -1.60 18.93 5.54

Relative performance -0.72 1.96 -1.45 -0.74 -0.19


Since inception*

MPS Medium Risk (Income and Growth (Passive)) -0.53 0.57 5.35 20.72 43.50 65.27

‡MSCI WMA Balanced TR -0.32 1.00 5.54 23.52 45.27 70.29

Relative performance -0.21 -0.43 -0.19 -2.80 -1.77 -5.02


MPSMedium Risk PortfolioIncome and Growth (Passive)











BMAM Apr - 18







Ratings and awards



UK Fixed Interest


UK Equities


European Equities




Structured Return

Cash

8.68%

4.85%

22.37%

12.07%

5.98%

8.93%

18.17%

6.91%

6.13%

5.91%


L&G Sterling Corporate Bond Index Fund 8.68


Vanguard FTSE 250 UCITS ETF 8.95





Fidelity Index Japan Fund 5.00






Cash (£) 5.91



MPSMedium-to-High Risk PortfolioGrowth30.04.2018Platform

Objective

The objective of this portfolio is to generate capital growth primarily from equity markets. The portfolio will be very significantly exposed to UK and international equity investments. Equity exposure is likely to range between 75-95%. The majority of the portfolio will be invested in risky investments offering the potential for large gains or losses.

Key Facts



Currency £


Charges




Performance


Performance (%)


-10

0

10

20

30

40

50

MPS Medium-to-High Risk (Growth) ‡MSCI WMA Growth TR





MPS Medium-to-High Risk (Growth) -- 14.12 -1.54 19.40 8.69

‡MSCI WMA Growth TR -- 11.65 -2.36 21.46 6.57

Relative performance -- 2.47 0.82 -2.06 2.12


Since inception*

MPS Medium-to-High Risk (Growth) -0.28 1.17 8.69 27.77 -- 43.85


Relative performance 0.24 0.14 2.12 1.38 -- 1.46


MPSMedium-to-High Risk PortfolioGrowth











BMAM Apr - 18







Ratings and awards


Overall sector breakdownInternational Fixed Interest

UK Equities


European Equities




Structured Return

Cash

3.84%

25.70%

17.61%

5.98%

13.87%

17.84%

5.88%

3.92%

5.37%


Neuberger Berman Shrt Dur Hi Yld Bd 3.84











LF Miton European Opportunities Fund 2.97

Baillie Gifford Emerging Markets Gr Fd 2.89






River and Mercantile World Recovery Fund 4.82






Cash (£) 5.37



MPSMedium-to-High Risk PortfolioGrowth (Passive)30.04.2018Platform

Objective

The objective of this portfolio is to generate capital growth primarily from equity markets. The portfolio will be very significantly exposed to UK and international equity investments. Equity exposure is likely to range between 75-95%. The majority of the portfolio will be invested in risky investments offering the potential for large gains or losses.

Key Facts



Currency £


Charges




Performance


Performance (%)


-10

-5

0

5

10

15

20

25

30

35

40

MPS Medium-to-High Risk (Growth (Passive)) ‡MSCI WMA Growth TR





MPS Medium-to-High Risk (Growth (Passive)) -- -- -2.01 21.37 6.63


Relative performance -- -- 0.35 -0.09 0.06


Since inception*

MPS Medium-to-High Risk (Growth (Passive)) -0.82 0.68 6.63 26.82 -- 35.40


Relative performance -0.30 -0.35 0.06 0.43 -- 1.24


MPSMedium-to-High Risk PortfolioGrowth (Passive)











BMAM Apr - 18







Ratings and awards


Overall sector breakdownInternational Fixed Interest

UK Equities


European Equities




Structured Return

Cash

3.86%

25.39%

17.99%

5.95%

13.80%

18.09%

5.90%

4.06%

4.96%



Vanguard FTSE 250 UCITS ETF 12.07





Fidelity Index Japan Fund 6.02






Fidelity Index Emerging Markets Fund 2.94

Cash (£) 4.96



defensive income - brooks macdonald/media/files/b/... · defensive income 28.02 ... the value of...

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