Fund of funds performance data

It is a fettered fund of funds investing in the M&G fund range. The top 10 holdings at January 31 made up 78% of the portfolio, with Graham French’s M&G Global Basics the biggest single holding at 10.1%.

The largest bond fund holdings are M&G High Yield Corporate Bond and M&G Corporate Bond. The Prudential fund’s one-year return of 15.5% to March 21 is in line with last month’s one-year advance of 15.45% to February 21. Over three years the fund has slipped one place to fifth in the rankings, with a return of 19.8%. Its three-year volatility of 2.8% makes it the most volatile fund of funds in the sector over the period.

Falling from first place over one year to February to second place in March is CF Miton Extra Income Portfolio, managed by Sam Liddle. It restricts itself to UK equity income funds and British and global bond funds, and its largest holding at February 28 was Invesco Perpetual Income at 10.9%, followed by Close Finsbury UK Gilt at 8.1%. After dipping to 11th place in the three-year table last month, it has climbed back to eighth place over three years to March 21, with a return of 14.5%.

Third place over a year, down from second last month, was Framlington Managed Distribution. This is the highest-placed of the multi-manager distribution funds over one year, although F&C Multi-Manager Distribution is challenging from fourth place with the lowest volatility in the sector.

Richard Peirson’s Framlington fund was 68.8% invested in British equities and 23.8% in bonds at February 28. It holds only Framlington funds and currently has just six holdings, the biggest of which is Framlington Monthly Income, at 18.7% of the fund. The appearance of Framlington Equity Income in second place at 18.2% and Framlington High Income in fourth place at 15.1% means that 52% of the portfolio is in funds managed by George Luckraft.

Over three years the top-placed fund is unchanged. Jupiter Merlin Income Portfolio, managed by John Chatfeild Roberts, grew by 23.5% over three years to March 21, a slight fall from its three-year advance of 25.6% to February 21. The £251.6m fund is 58.5% invested in equities (at February 28) and 35.7% in bonds, with a cash weighting of 5.8%. It holds 14 funds and has a bias towards Britain, with George Luckraft’s Framlington Equity Income and Monthly Income funds again making an appearance.

However, funds from further afield are also included, with CF Morant Wright Japan and JPMF Natural Resources in evidence. Bond fund holdings include Invesco Perpetual Monthly Income Plus and Thames River High Income.

Remaining in second place over three years is Marlborough Equity & Bond Income, managed by Gurjit Soggi. It gained 20.9% over the three years to March 21, slightly below its three-year return of 23.4% to February 21.

At January 4 its biggest weighting was towards UK Equity Income funds, at 30.6% of the portfolio, followed by Global Bond funds at 13.8% and UK Other Bond funds at 13.5%. Its biggest single holding is the Framlington Equity Income fund (Luckraft again) at 8%, followed by Marlborough stablemate UK Micro-Cap, managed by Giles Hargreave, at 7.1%.

In third place over three years, up from fifth last month, is the Credit Suisse Multi-Manager Balanced Strategic Portfolio. The £118.8m fund, managed by Robert Burdett and Gary Potter, has 23 funds in its portfolio, which is weighted 42.9% to British equities and 41% to fixed income. As well as the obligatory George Luckraft fund (Framlington Equity Income), it has exposure to boutique fund managers such as Neptune, Artemis, Rensburg and Thames River. Three-year volatility is in line with the sector average at 2.28%.