OEIC Fund Prices - Yield information

The yield figures shown on our web pages have been calculated in line with the guidelines set out by the Investment Management Association (IMA) for calculating historic and distribution yields. The information on this page gives a summary of how the yield figures on equity and bond funds are calculated.

Historic Dividend Yield

(This applies to the Adventurous Portfolio, Balanced Portfolio, Cautious Portfolio, UK Growth, Global Growth, UK Equity Income and Global Emerging Markets Funds)

The yield figures shown for these funds are based on historic dividend payments. They reflect the income payments distributed by the funds over the past twelve months as a percentage of the fund share price at the last dividend declaration date, The yield figures shown are based on a snapshot of the portfolio on that day and will not change until the next time a dividend is declared.

The figures do not include allowance for any initial charge and investors may be subject to tax on the payments they receive.

Distribution Yield

(This applies to the Gilt and Corporate Bond and Deposit Funds)

The yield figures shown are distribution yields and reflect the amount that the fund may be expected to distribute over the next twelve months as a percentage of the share price of the fund on the last working day of the preceding month. The yields are based on a snapshot of the portfolio on that day and will not change until they are recalculated at the end of the next month.

The figures do not include allowance for any initial charge and investors may be subject to tax on the payments they receive.

The distribution yield is higher than the underlying yield achieved by the fund because a portion of the fund’s expenses are charged to capital. This has the effect of increasing the amount distributed and constraining the capital growth of the fund to an equivalent extent.

Underlying Yield

(This applies to the Gilt and Corporate Bond Fund)

The underlying yield is different to the distribution yield. Essentially, the underlying yield is the annualised income receivable by the fund (net of fund expenses) as a percentage of the fund’s share price on the last working day of the preceding month. It is based on a snapshot of the portfolio on that day and will not change until recalculated at the end of the next month. The underlying yield figure has not been displayed but is available on request by calling us on 0870 6066462.

The distribution yield – ie the amount that we expect to pay out - is higher than the underlying yield achieved by the fund because a portion of the fund’s expenses are charged to capital. This has the effect of increasing the amount distributed and constraining the capital growth of the fund to an equivalent extent.

The figures do not include allowance for any initial charge and investors may be subject to tax on the payments they receive.