The Daily Telegraph - 20.08.2019

Market data Unit trusts & open-ended investment companies prices http://www.telegraph.co.uk/funds

Major price changes FTSE 100

Rates

Money

Nationwide Base Mortgage Rate 2.75pc

US Fed Funds 2.00-2.25pc

US Long Bonds Yld 2.07pc

European repo rate 1.25pc

European base rate 0.00pc

Tourist £1= Sterling £1= 1 Euro = 1 Dollar =

Exchange rates

£ > € Rate 1.0937 Change +0.01¢ £ > $ Rate 1.2134 Change -0.09¢

Tourist rates for indication use only. http://www.travelex.co.uk

*Copyright Baltic Exchange Information Services Ltd.

Commodities summary

Price Change

World market indices

Index Change

Inflation Change on month Year

È Gold per troy oz $1495.80 -16.61 -1.10pc
È Silver per oz £13.90 -0.18 -1.28pc
È Krugerrand £1222.68 -12.68 -1.03pc
È New Sovereign £285.15 -1.44 -0.50pc
È Maples £1225.56 -12.68 -1.02pc
Ç Platinum per oz £692.05 +2.65 +0.38pc
Ç Palladium per oz £1214.70 +23.67 +1.99pc
Ç Copper grade A £4754.41 +15.46 +0.33pc
È Tin high grade £13556.95 -117.60 -0.86pc
Ç Lead £1693.18 +18.14 +1.08pc
È Zinc special high grade £1859.65 -7.68 -0.41pc
È Aluminium high grade £1476.84 -1.79 -0.12pc
È Nickel £13144.88 -183.78 -1.38pc
È Baltic Dry Index* 2067.00 -21.00 -1.01pc
È Wheat per tonne £137.25 -0.35 -0.25pc
Ç Brent Crude Oct settlement $59.74 +1.10 +1.88pc

Bank Rate 0.75pc
Overnight 0.66pc
7 day 0.69pc
1 month 0.71pc
3 months 0.77pc
6 months 0.81pc

Ç Australia All Ordinaries 6550.50 +64.60 +1.00pc
È Brazil Bovespa 99468.67 -337.11 -0.34pc
Ç China Shanghai Composite 2883.10 +59.27 +2.10pc
Ç France CAC General 5371.56 +70.77 +1.34pc
Ç Germany DAX 11715.37 +152.63 +1.32pc
Ç Hong Kong Hang Seng 26291.84 +557.62 +2.17pc
Ç India S&P CNX500 8997.95 +9.15 +0.10pc
Ç Japan Nikkei 20563.16 +144.35 +0.71pc
Ç Russia RTS 1247.53 +7.72 +0.62pc
Ç Singapore Straits Times 3128.45 +13.42 +0.43pc
Ç Spain Madrid SE 875.70 +5.72 +0.66pc
Ç Switzerland SMI Index 9825.59 +97.20 +1.00pc
Ç USA Dow Jones 26135.79 +249.78 +0.96pc
Ç USA Nasdaq 8002.81 +106.82 +1.35pc

Australia Aus $ 1.7000 1.7914 1.6381 1.4763
Canada Can $ 1.5372 1.6122 1.4742 1.3286
Denmark Krone 7.7815 8.1554 7.4570 6.7207
Euro € 1.0467 1.0937 ... 0.9013
Hong Kong HK $ 9.0552 9.5204 8.7052 7.8457
India Rupee 76.4200 86.6669 79.2462 71.4219
Israel Shekels 3.8897 4.2766 3.9104 3.5243
Japan Yen 123.1900 129.2263 118.1615 106.4950
Kuwait Dinar ... 0.3692 0.3376 0.3043
New Zealand NZ $ 1.7630 1.8882 1.7265 1.5561
Norway Krone 10.4400 10.8844 9.9525 8.9698
Pakistan Rupee 181.5700 192.5442 176.0579 158.6750
Saudi Arabia Riyal 4.2646 4.5511 4.1613 3.7505
Singapore $ 1.5696 1.6810 1.5371 1.3853
South Africa Rand 17.3900 18.7007 17.0996 15.4113
Sweden Krona 11.2300 11.7304 10.7260 9.6670
Switzerland Franc 1.1344 1.1900 1.0881 0.9807
Thailand Baht 33.5600 37.4258 34.2213 30.8425
UAE Dirham 4.1914 4.4572 4.0755 3.6732
UK £ ... ... 0.9144 0.8241
USA $ 1.1614 1.2134 1.1096 ...

RPI (1987=100) Jul 289.50 0.00 +2.80pc
RPIX (Target 2.5pc) Jul 290.00 -0.10 +2.7pc
CPI (2015=100 target 2pc) Jul 107.90 0.00 +2.10pc
Halifax house price index Jul 764.20 -0.2pc +4.1pc

Risers 88 Volume Close Change
Ç Ocado Group 1.18m 1204 4.60pc
Ç TUI AG 1.60m 777⅜ 4.10pc
Ç Glencore 29.22m 233 3.81pc
Ç Smith (DS) 4.96m 324¾ 3.51pc
Ç Sainsbury 9.45m 188⅜ 3.21pc
Ç Antofagasta 1.91m 815⅜ 3.06pc
Ç Whitbread 0.93m 4215 2.88pc
Ç ITV 10.08m 109¾ 2.67pc
Ç NMC Health 0.67m 1900 2.65pc
Ç Marks & Spen 7.44m 185¾ 2.48pc
Ç Anglo Amer 12.00m 1739⅝ 2.43pc
Ç Phoenix 1.71m 671¾ 2.32pc
Ç Melrose Ind 12.51m 167⅜ 2.07pc
Ç BT Group 19.40m 167⅜ 2.05pc
Ç BP 32.11m 500⅛ 2.02pc
Ç Scot Mort Inv Tst 2.54m 530 2.02pc
Ç Utd. Utilities 2.02m 797⅜ 2.02pc
Ç Carnival 0.42m 3592 1.93pc
Ç Taylor Wimpey 7.54m 146¼ 1.81pc
Ç Segro 1.80m 757⅜ 1.75pc
Ç Severn Trent 0.59m 2042 1.74pc
Ç Royal D Shell B 3.99m 2304½ 1.72pc

Ç Tesco 20.65m 219¾ 1.67pc

Ç Mondi 2.01m 1562½ 1.66pc

Ç Unilever 1.68m 5091 1.60pc

Ç Ashtead Group 0.92m 2124 1.58pc

Ç British Land 3.14m 485¼ 1.55pc

Ç Rio Tinto 2.81m 4065 1.50pc

Ç BHP Group 4.29m 1781⅜ 1.49pc

Ç Next 0.50m 5706 1.49pc

Ç Evraz 3.63m 503 1.41pc

Ç Royal Bk Scot 15.72m 184⅝ 1.37pc

Fallers 12 Volume Close Change

È Fresnillo 1.47m 652 -1.75pc

È Prudential 8.44m 1399 -1.17pc

È Sage Group 2.84m 695⅝ -0.49pc

È Flutter Entrtmt 0.10m 6488 -0.34pc

È Vodafone 39.59m 150⅜ -0.34pc

È St James Place 2.09m 937 -0.32pc

È Hiscox 0.51m 1598 -0.19pc

È Ass Brit Fds 0.91m 2299 -0.17pc

È Diageo 5.44m 3446 -0.17pc

È Auto Trader Grp 1.80m 524⅜ -0.15pc

È Coca-Cola HBC 0.63m 2715 -0.04pc

È Micro Focus Intl 0.99m 1597⅝ -0.01pc

AXA Investment Managers UK

Limited

7 Newgate Street, London, EC1A 7NX

http://www.axaframlington.com Cust Svs: 0845 777 5511

Amer Gwth Acc – 778.7 +10.5

Biotech Acc – 182.8 +4

Emerg Mkts Acc – 285.1 +4.1

European Acc – 945.0 +16.1

FinTech R Acc – 815.7 +13.5

Global Tech – 144.7 +2.4

Global Thematics R GBP Acc – 1699 +28

Health Acc – 2163 +35

Japan R GBP Acc – 585.9 +3

Managed Balanced Acc – 431.5 +3.8

Managed Income Acc – 173.9 ...

Managed Income Inc – 109.2 -0.1

Monthly Inc Inc – 238.3 +1.6

Monthly Inc Acc – 610.5 +3.9

Pan Euro HY Bond Acc – *165.2 -0.10

Pan Euro HY Bond Inc – *104.0 -0.10

UK Growth Acc – 327.4 +3.7

UK Select Opps R Inc – 1956 +22

UK Select Opps R Acc – 3631 +41

UK Smllr Cos Acc – 289.1 +1.5

AXA IM Funds http://www.axa-im.co.uk

BNY Mellon Fund Managers

Investors: 0800 614330 Brokers: 08085 660000

http://www.bnymellonim.co.uk,

[email protected]

BNY Mellon Investment Funds (ICVC)

Sterling Income Shares

Insight Corporate Bd 0% *96.31 -0.43

Insight Eq Inc Fund 0% *158.66 +1.77

Insight Eq Inc Booster 0% *107.42 +1.33

Insight Glob Abs Ret Inc 0% 113.48 +0.09

Insight Glob Multi-Strat Fd 0% *130.09 +0.50

Insight Inflat-Link Corp Bd 0% 108.96 -0.03

Long-Term Global Equity 0% 314.82 +4.35

Newton Asian Income 0% *216.45 +2.04

Newton Cont European 0% *284.87 +4.41

Newton Global Dyn Bd 0% *102.72 -0.19

Newton Glb High Yld Bd 0% *60.21 -0.07

Newton Glb Inc Stg Inc 0% *224.00 +3.41

Newton Glb Opps 0% *334.29 +4.29

Newton Intnl Bond 0% 274.35 -0.46

Newton Multi-Asset Bal 0% 212.74 +1.75

Newton Mult-Asset Div Ret 0% 157.23 +0.97

Newton Mult-Asset Gwth 0% 893.79 +11.67

Newton Oriental 0% *659.90 +10.96

Newton Real Return A 0% *120.71 -0.10

Newton UK Equity Fund 0% *885.16 +8.73

Newton UK Inc 0% *65.94 +0.69

Newton UK Opps 0% *340.95 +3.31

US Opps EUR Acc 0% 122.49 +1.72

Carvetian Capital

Management Limited

Admin: Stuart House, St John’s St,

Peterborough PE1 5DD

Dealing & Enquiries: 0345 850 0255

Generation Fd 5.00 *787.5 ...

Sand Aire FENIX Bal Inc 5.00 *157.8 -2.2

Consistent Unit Trust

Management Co Ltd

Admin: Stuart House, St John’s St,

Peterborough PE1 5DD

Dealing & Client Services 0345 850 8818

Opportunities Unit Tst Inc 0% *45.52 46.88 ...

Opportunities Unit Tst Acc 0% *120.8 124.4 ...

Practical Invest Inc 5.00 227.7 243.9 ...

Practical Invest Acc 5.00 1247 1337 ...

Discretionary Unit Fund

No 1, Poultry, London EC2R 8JR. 020 7415 4130

Maitland Discretionary Inc 3.00 2327.56 2474.15 +3.21

Fidelity International

130 Tonbridge Road, Tonbridge, Kent TN11 9DZ

Call free: Private Clients 0800 414161

Broker Dealings 0800 414181

Unit Trust

Open World A Acc 3.00 188.8 +2.5

Investment Funds (OEIC)

Cash Fd Y – 100.04 ...

Cash Fd Y Accum.Units – 101.19 +0.01

Income Funds

Enhanced Inc Fd 3.50 97.93 +1.01

Extra Income Fd 3.50 28.15 -0.05

Moneybuilder Bal – 48.09 +0.14

Moneybuilder Inc – 37.88 -0.20

Growth & Income Funds

Moneybldr Div 3.50 239.2 +2.6

Growth Funds

American 3.50 4643 +68

Amer Sp Sits 3.50 1732 +28

European 3.50 2565 +44

European Opps 3.50 513.5 +9.8

Global Special Sits 3.50 4296 +74

Japan 3.50 394.8 +0.1

Japan Smaller Cos 3.50 297.3 +1.1

Global Focus 3.50 2337 +29

Index UK A Acc – 109.3100 +1.2900

Opps A Dis – 99.67 +1.06

Special Sits 3.50 3849 +52

South East Asia 3.50 1425 +23

UK Select Acc 3.50 316.5 +3.6

†CAR - Net income reinvested

Fundsmith LLP

PO Box 10846, Chelmsford, Essex, CM99 2BW.

0330 123 1815

http://www.fundsmith.co.uk [email protected]

Fundsmith Equity T Acc – 474.95 +5.63

Fundsmith Equity T Inc – 436.24 +5.17

Janus Henderson Investors

PO Box 9023 Chelmsford, CM99 2WB

Enquiries: 0800 832 832

Website: http://www.janushenderson.com

Asia Pac Cap Gwth A Acc 5.00 1167.0000 +17.00

Asian Dividend Income Inc 5.00 *106.1000 +1.10

Cautious Managed A Acc 5.00 *264.7000 +1.40

Cautious Managed A Inc 5.00 *144.3000 +0.80

China Opps A Acc 5.00 1447.0000 +38.00

Emerg Mkts Opps A Acc 5.00 199.8000 +1.50

European Growth A Acc† 5.25 236.7000 +4.40

European Sel Opps A Acc 5.00 1769.0000 +28.00

Fixed Int Mthly Inc A Inc 4.25 *22.4600 -0.01

Global Care Growth A Inc 4.50 337.3000 +6.10

Global Equity Inc A Inc† 5.25 61.4600 +0.95

Global Growth Acc 4.25 3476.0000 +52.00

Global Strategic Cap Acc† 5.00 *251.6000 +0.60

Global Technology A Acc 5.00 2089.0000 +19.00

Multi-Mgr Abs Ret A Acc 5.00 142.8000 +0.10

Multi-Mgr Active A Acc† 5.00 *230.2000 +1.90

Multi-Mgr Distbn A Inc 5.25 134.2000 +0.30

Multi-Mgr Divrsfd A Acc – 88.5800 +0.15

Multi-Mgr Inc&Gwth A Acc 5.00 180.7000 +0.40

Multi-Mgr Inc&Gwth A Inc 5.25 153.5000 +0.40

Multi-Mgr Mangd A Acc† 5.00 *286.3000 +2.30

Multi-Mgr Mangd A Inc† 5.00 *278.3000 +2.20

Sterling Bond Acc† 4.25 *238.3000 -1.30

Sterling Bond Inc† 4.25 *68.2900 -0.36

Strategic Bond A Inc 4.00 *129.2000 -0.40

UK Absolute Return A Acc 5.00 156.1000 +0.20

UK Alpha A Acc† 5.25 137.8000 +2.00

UK & Irish Small Co A Acc 5.00 569.9000 +3.90

UK Equity Income A Inc 5.00 *528.2000 +2.20

UK Index A Acc – 632.5000 +7.40

UK Tracker A Acc – 287.2000 +3.20

US Growth A Acc 5.00 1345.0000 +26.00

†Available as an ISA

J.P. Morgan Asset Management

60 Victoria Embankment, London, EC4Y 0JP

Clients:0800 204020.Brokerline 0800 727770

JPM America Eq A Acc 3.00 113.3000 +1.8000

JPM America Eq A Inc 3.00 113.3000 +1.8000

JPM Asia Growth A Acc 3.00 229.1000 +3.9000

JPM Asia Growth A Inc 3.00 126.0000 +2.2000

JPM Div Gth A Net ACC 3.00 274.0000 +1.1000

JPM Emg Euro Eq A Acc 3.00 227.3000 -0.1000

JPM Emg Euro Eq A Inc 3.00 48.3800 -0.0200

JPM Emg Markets A Acc 3.00 250.4000 +4.1000

JPM Emg Markets A Inc 3.00 106.4000 +1.8000

JPM Emg Mkts Inc A Acc 3.00 *80.2600 +1.0400

JPM Emg Mkts Inc A Inc 3.00 *59.8400 +0.7800

JPM Eur Dyn (ex-UK) £ Hg A Acc 3.00 209.5000 +2.8000

JPM Euro Dyn (ex-UK) A Acc 3.00 224.4000 +4.2000

JPM Euro Dyn (ex-UK) A Inc 3.00 99.6900 +1.8600

JPM Europe A Acc 3.00 1508.0000 +29.0000

JPM Europe A Inc 3.00 82.2000 +1.5800

JPM Euro Smaller Co A Acc 3.00 756.5000 +13.8000

JPM Euro Smaller Co A Inc 3.00 97.6300 +1.7800

JPM Global Bd Opps A Grs Acc – *57.2500 -0.0300

JPM Global Bd Opps A Grs Inc – *49.7300 -0.0200

JPM Global Bond A Gross Acc 3.00 *284.9000 -1.3000

JPM Global Bond A Gross Inc 3.00 *218.4000 -1.0000

JPM Global Eq Inc £ Hdg A Acc 3.00 *87.8400 +1.0800

JPM Global Eq Inc £ Hdg A Inc 3.00 *56.4900 +0.6900

JPM Global Eq Inc Fd A Acc 3.00 *114.9000 +1.7000

JPM Global Eq Inc Fd A Inc 3.00 *89.6400 +1.3700

JPM Global HiYld Bd A Grs Acc 3.00 *115.5000 +0.8000

JPM Global HiYld Bd A Grs Inc 3.00 *35.3200 +0.2500

JPM Global HiYldBdAGrsMthInc 3.00 *35.3200 +0.2500

JPM Global Macro Fund A Acc 3.00 *68.8300 +0.2300

JPM Global Macro Fund A Inc 3.00 *60.0100 +0.2000

JPM Global Macro Opps A Acc 3.00 72.65 +0.40

JPM Global Macro Opps A Inc 3.00 71.99 +0.39

JPM Global Uncons Eq A Acc 3.00 1549.0000 +27.0000

JPM Global Uncons Eq A Inc 3.00 114.8000 +2.0000

JPM Japan A Acc 3.00 494.2000 +2.6000

JPM Japan A Inc 3.00 118.9000 +0.6000

JPM Multi-Asset Income A Acc 3.00 *98.2200 +0.4200

JPM Multi-Asset Income A Inc 3.00 *63.8500 +0.2700

JPM Multi-Asset Inc A Mth Inc 3.00 *63.8200 +0.2700

JPM Multi-Man Gwth A Acc 3.00 1075.0000 +16.0000

JPM Multi-Man Gwth A Inc 3.00 976.4000 +15.2000

JPM Natural Res A Acc 3.00 612.1000 +3.6000

JPM Natural Res A Inc 3.00 42.2800 +0.2500

JPM Sterling Corp Bd A Grs Acc 3.00 *99.9300 -0.4700

JPM Sterling Corp Bd A Grs Inc 3.00 *58.3100 -0.2600

JPM UK Dynamic A Acc 3.00 *190.6000 +2.0000

JPM UK Dynamic A Inc 3.00 *144.5000 +1.6000

JPM UK Equity Core E Acc – *365.0000 +4.2000

JPM UK Equity Core E Inc – *60.0200 +0.7000

JPM UK Equity Gwth A Acc 3.00 144.9000 +1.4000

JPM UK Equity Gwth A Inc 3.00 127.1000 +1.2000

JPM UK Higher Inc A Acc 3.00 *1017.0000 +10.0000

JPM UK Higher Inc A Inc 3.00 *489.3000 +4.4000

JPM UK Sm Cos A Acc 3.00 466.5000 +4.8000

JPM UK Sm Cos A Inc 3.00 87.8800 +0.9000

JPM UK Strat Eq Inc A Acc 3.00 *174.1000 +2.1000

JPM UK Strat Eq Inc A Inc 3.00 *96.7900 +1.1700

JPM Uncons Bond A Acc 3.00 *72.9300 +0.0600

JPM Uncons Bond A Inc 3.00 *55.1800 +0.1300

JPM US Eq Inc £ Hdg A Inc 3.00 *120.6000 +1.6000

JPM US Eq Inc A Acc 3.00 *211.1000 +3.5000

JPM US Eq Inc A Inc 3.00 *165.2000 +2.7000

JPM US Select A Acc 3.00 197.0000 +3.2000

JPM US Select A Inc 3.00 193.7000 +3.1000

JPM US Sm Cap Gwth Fd A Acc 3.00 776.2000 +18.4000

JPM US Sm Cap Gwth Fd A Inc 3.00 203.3000 +4.8000

Jupiter Unit Trust Managers Ltd

The Zig Zag Building, 70 Victoria Street, London,

SW1E 6SQ

020 3817 1000

Jupiter Abslt Rtn – 50.10 -0.37

Jupiter Asian Fd – *892.82 +10.00

Jupiter Asian Inc Fd Acc – 147.11 +2.48

Jupiter Asian Inc Fd Inc – 129.15 +2.18

Jupiter China Acc – 127.37 +3.18

Jupiter China Inc – 121.08 +3.03

Jupiter Corp Bond Inc – 60.00 -0.22

Jupiter Dstrbtn Acc – *105.14 +0.12

Jupiter Dstrbtn Inc – *58.86 +0.06

Jupiter Dstrbtn & Grth Inc – 110.33 +1.02

Jupiter Eco Inc – 399.19 +7.26

Jupiter Emerg Euro Opps – *236.94 -0.31

Jupiter European – *2542.02 +36.81

Jupiter Euro Inc Acc – 79.04 +1.37

Jupiter Euro Inc Inc – 51.11 +0.89

Jupiter Euro Special Sits – *427.02 +7.00

Jupiter Fin Opp – 749.12 +11.83

Jupiter Fund Of Inv Trusts – 256.34 +4.28

Jupiter Global Emg Acc – 63.59 +0.56

Jupiter Global Eq Inc Acc – 77.73 +1.09

Jupiter Global Eq Inc Inc – 66.10 +0.93

Jupiter Global Managed Acc – 287.91 +4.22

Jupiter Global Managed Inc – 274.97 +4.03

Jupiter Growth & Inc – 90.56 +1.22

Jupiter Income – *505.70 +6.20

Jupiter India Fd – *107.37 +0.33

Jupiter Int Financials – 113.43 +2.20

Jupiter Japan Inc Fd Acc – *123.60 +0.92

Jupiter Japan Inc Fd Inc – *93.36 +0.69

Jupiter Merlin Bal Prtfo Acc – 201.80 +1.78

Jupiter Merlin Bal Prtfo Inc – 136.61 +1.20

Jupiter Merlin Conserv Prtfo Acc – 62.40 +0.05

Jupiter Merlin Conserv Prtfo Inc – 52.08 +0.05

Jupiter Merlin Grth Prtfo Acc – 458.59 +5.57

Jupiter Merlin Grth Prtfo Inc – 445.69 +5.42

Jupiter Merlin Inc Prtfo Acc – *317.86 +1.68

Jupiter Merlin Inc Prtfo Inc – *137.76 +0.71

Jupiter Merlin WW Prtfo Acc – 332.72 +4.42

Jupiter Merlin WW Prtfo Inc – 332.70 +4.41

Jupiter Monthly Alt Inc Acc – *123.18 +0.52

Jupiter Monthly Alt Inc – *30.90 +0.13

Jupiter N.American Inc Acc – *180.06 +2.99

Jupiter N.American Inc Inc – *145.10 +2.40

Jupiter Responsible Inc Fd Acc – 112.00 +1.15

Jupiter Responsible Inc Fd Inc – 68.24 +0.70

Jupiter Strategic Bond Acc – *105.43 -0.44

Jupiter Strategic Bond Inc – *66.50 -0.28

Jupiter UK Growth – *279.42 +4.75

Jupiter UK Smaller Cos – *351.91 +1.94

Jupiter UK Special Sits Inc – 181.20 +2.14

Jupiter US Sm&Md Inst I Acc – 80.99 ...

Jupiter US Sm&Md Cap Ret Acc – 74.46 ...

Marks & Spencer Unit Trust

Management Ltd

Kings Meadow, Chester, CH99 9UT

0870 333 1835

High Income Inc – *112.4 112.4 ...

High Income Acc – *273 273 ...

UK Select Port Inc – 331.3 331.3 ...

UK Selection Port – 626.4 626.4 ...

UK 100 Co’s Fund Inc – 213.8 213.8 ...

UK 100 Co’s Fund Acc – 382.8 382.8 ...

W’wide Man Inc – *521.4 ...

W’wide Man Acc – *857.2 ...

M & G Securities Ltd

PO Box 9039, Chelmsford, CM99 2XG

Enq: 0800 390 390. UT Deal: 0800 328 3196

Charibond Inc – *124.69 -0.2

Charibond Acc – *4143.78 -6.42

Charifund Inc – *1518.0 +15.97

Charifund Acc – *25076.44 +263.85

M&G Corp Bond A Inc 3.00 *41.25 -0.16

M&G Corp Bond A Acc 3.00 *74.51 -0.31

M&G Dividend A Inc 4.00 *55.52 +0.75

M&G Dividend A Acc 4.00 *673.57 +9.05

M&G Episode Grwth Stg A Dis 4.00 *54.83 +0.81

M&G Episode Income A Inc 4.00 *126.11 +0.65

M&G Episode Income A Acc 4.00 *173.64 +0.89

M&G Global Dividend A Inc 4.00 *211.82 +3.35

M&G Global Dividend A Acc 4.00 *302.06 +4.77

M&G Glbl Emrgng Mkts A Inc 4.00 263.49 +4.42

M&G Glbl Emrgng Mkts A Acc 4.00 293.78 +4.93

M&G Glbl High Yld Bd A Inc 3.00 *48.67 +0.07

M&G Glbl High Yld Bd A Acc 3.00 *136.37 +0.22

M&G Global Macro Bd A Inc 3.00 *92.21 +0.02

M&G Global Macro Bd A Acc 3.00 *146.41 +0.04

M&G Global Themes A Inc 4.00 1006.83 +10.2

M&G Global Themes A Acc 4.00 1594.17 +16.15

M&G Managed Growth A Inc 4.00 107.52 +1.34

M&G Optimal Income A Inc 3.00 146.42 +0.17

M&G Optimal Income A Acc 3.00 213.82 +0.25

M&G Property Portfolio A Inc – 111.76 111.76 +0.03

M&G Recovery A Inc 4.00 *122.95 +1.43

M&G Recovery A Acc 4.00 *300.48 +3.5

M&G Strategic Corp Bd A Inc 3.00 75.86 -0.2

M&G Strategic Corp Bd A Acc 3.00 122.95 -0.33

M&G UK Inc Distribution A Inc 4.00 741.8 +5.38

M&G UK Inc Distribution A Acc 4.00 7241.03 +52.52

M&G UK Infl Lkd Corp A Inc 3.00 115.71 +0.06

M&G UK Infl Lkd Corp A Acc 3.00 120.91 +0.07

N.A.A.C.I.F. Inc – *84.84 +0.83

N.A.A.C.I.F. Acc – *8859.37 +87.4

†CAR - Net Income reinvested.

Merian Global Investors

(formerly Old Mutual Global Investors)

For further information visit merian.com or contact

your financial adviser.

Merian Corporate Bond Fund – 138.9 -0.60

Merian Eur (ExUK) Small Co – 16.5096 +0.343

Merian Global Emerging Mrkts - 14.9094 +0.204

Merian Global Equity – 278.5 +4.50

Merian Gold & Silver – 15.2711 -0.340

Merian North American Equity – 321.1 +5.60

Merian Strat Abs Return Bond – 10.1089 -0.004

Merian UK Alpha - 162.0 +2.30

Merian UK Equity Income – 158.9 +2.30

Merian UK Mid Cap – 278.2 +3.90

Merian UK Smaller Company – 258.9 +2.30

Natwest Investment Funds

(RBS Collective Investment Funds Ltd)

PO Box 249, York YO90 1ZY

0117 940 3848

Balanced Inc 5.00 334.1 ...

Balanced Acc 5.00 433.6 ...

Equity Income 5.00 347.5 ...

Extra Income 5.00 109.6 ...

Growth 5.00 413.3 ...

High Yield 5.00 126.8 ...

Intntl Growth 5.00 579.0 ...

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  No debt and a long record of
  divi rises: after its summer
  stumble AG Barr is a buy
  A SHARE price plunge at soft drinks
  group AG Barr could represent a
  contrarian buying opportunity for
  long-term investors.
  The Scottish firm is best
  known for its Irn-Bru fizzy
  drink, Strathmore water
  and Rubicon fruit juices.
  These strong brands
  and well-invested
  manufacturing facilities
  help to drive high returns
  on capital and strong
  cash flow, features that
  underpin a dividend growth
  streak that stretches back to at
  least 2000.
  Nor does the company have any
  debt. It ended its last financial year
  with nearly £22m in cash, offset by
  a modest £13.5m pension deficit
  and £6.6m of lease liabilities.
  And yet the shares have
  slipped badly this summer,
  thanks to last month’s profit
  warning. Explanations
  involving a carbon
  dioxide shortage last
  year, the sugar tax and this year’s
  unpredictable Caledonian weather
  were not entirely satisfactory and
  management also admitted to
  a change in priorities from
  volumes in 2018 to value
  in 2019.
  First-half sales are
  expected to drop by 10pc
  year on year and full-year
  profits could fall by as
  much as a fifth.
  Set against AG Barr’s
  impressive trading
  history, this profit stumble
  feels like a temporary setback
  rather than the result of an
  unsalvageable blunder. The weather
  will always be unpredictable and,
  more pertinently, higher prices for
  Irn-Bru appear to be sticking.
  Just as reassuringly, management
  aims to revitalise sales momentum
  in the Rockstar energy drink and
  Rubicon juices with both new
  product development and recipe
  improvements.
  The healthy balance sheet means
  time is on investors’ side. Unusually,
  Brexit may not be much of an issue
  for the firm either since most sales are
  in Britain, although certain key raw
  materials are imported.
  Rather like Nichols (see later in
  this piece), first assessed in January
  last year after a profit alert caused by
  problems in the Middle East, AG Barr’s
  slip could just be a one-off, although
  cautious investors may prefer to wait
  until the interims on Sept 24.
  More intrepid portfolio builders
  may wish to take a closer look now,
  just in case analysts’ forecasts of a
  return to steady mid-single-digit
  profit growth from 2020 onwards
  prove accurate.
  Granted, the stock is not cheap at
  nearly 22 times forecast earnings with
  a 2.7pc yield, but returns on capital of
  more than 20pc can compound nicely
  over time and that dividend growth
  streak could gently drag the share
  price higher too. Its recent fall could
  offer an attractive entry point for
  patient investors.
  Questor says: buy
  Ticker: BAG
  Share price at close: 619p
  Update: Nichols
  This column’s other foray into the
  world of soft drinks continues to pay
  off and shareholders can hopefully
  keep raising a glass to Nichols.
  Last month’s interim results
  were perfectly solid. The maker
  of Vimto, Sunkist and Levi Roots-
  branded beverages delivered a 10pc
  rise in sales, buoyed by a return to
  growth in the Middle East after late
  2017’s blip and by outperformance
  of the domestic market with a 6pc
  top-line increase.
  A drop in operating margins needs
  to be watched but management seems
  happy to leave full-year earnings
  forecasts unchanged and to sanction
  an increase of nearly 10pc in the
  interim dividend, with the benefit of a
  net cash pile at their back.
  The shares are hardly a bargain on
  around 25 times forecast earnings
  with a yield of 2.3pc but the stock
  looks capable of delivering consistent
  single-digit growth in earnings and
  dividends, as well as lofty returns on
  capital employed. Such characteristics
  could become even more highly prized
  if economic uncertainties persist. Hold.
  Russ Mould is investment director at AJ
  Bell, the stockbroker
  AG Barr Close: 619p
  2014 2015 2016 2017 2018 2019
  p
  600
  500
  400
  1000
  900
  800
  700
   Market value:
  £701m
   Turnover (Jan
  2020 estimate):
  £270m
   Pre-tax profits
  (Jan 2020 est):
  £40.5m
   Yield (Jan
  2020 est): 2.7pc
   Most recent
  year’s divi: 16.6p
   Net debt (Jan
  2019): £1.7m net
  cash
   Return on
  capital (Jan
  2019): 21.2pc
   Cash conv
  ratio (Jan 2019):
  80pc
   p/e ratio (Jan
  2020 est): 21.9
  Key
  numbers
  AG Barr
  Buy
  Returns on capital of
  20pc or more should
  compound nicely
  over time
  Although its
  explanations for
  last month’s profit
  warning were a little
  lame, the drinks
  firm’s problems look
  temporary, writes
  Russ Mould
  Questor
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  30 ***^ Tuesday 20 August 2019 The Daily Telegraph
  RELEASED BY "What's News" VK.COM/WSNWS TELEGRAM: t.me/whatsnws