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May CARG 2020.Pdf
ISSUE 30 – MAY 2020 ISSUE 30 – MAY ISSUE 29 – FEBRUARY 2020 Promoting positive mental health in teenagers and those who support them through the provision of mental health education, resilience strategies and early intervention What we offer Calm Harm is an Clear Fear is an app to Head Ed is a library stem4 offers mental stem4’s website is app to help young help children & young of mental health health conferences a comprehensive people manage the people manage the educational videos for students, parents, and clinically urge to self-harm symptoms of anxiety for use in schools education & health informed resource professionals www.stem4.org.uk Registered Charity No 1144506 Any individuals depicted in our images are models and used solely for illustrative purposes. We all know of young people, whether employees, family or friends, who are struggling in some way with mental health issues; at ARL, we are so very pleased to support the vital work of stem4: early intervention really can make a difference to young lives. Please help in any way that you can. ADVISER RANKINGS – CORPORATE ADVISERS RANKINGS GUIDE MAY 2020 | Q2 | ISSUE 30 All rights reserved. No part of this publication may be reproduced or transmitted The Corporate Advisers Rankings Guide is available to UK subscribers at £180 per in any form or by any means (including photocopying or recording) without the annum for four updated editions, including postage and packaging. A PDF version written permission of the copyright holder except in accordance with the provision is also available at £360 + VAT. of copyright Designs and Patents Act 1988 or under the terms of a licence issued by the Copyright Licensing Agency, Barnard’s Inn, 86 Fetter Lane, London, EC4A To appear in the Rankings Guide or for subscription details, please contact us 1EN. -
Aberdeen Standard Select Portfolio
Aberdeen Standard Select Portfolio This Fund Summary is for the following ILP sub-fund and should be read in conjunction with the Product Summary Aberdeen Standard India Opportunities Fund Aberdeen Standard Pacific Equity Fund Aberdeen Standard Singapore Equity Fund Aberdeen Standard Thailand Equity Fund Structure of ILP Sub-Fund The ILP Sub-Fund is an open-ended feeder fund and invests all or substantially all of its assets into the underlying Aberdeen Standard Select Portfolio which offers a group of separate and distinct portfolios of securities or obligations, each of which being a sub-fund investing in different securities or portfolios of securities. The units in the ILP Sub-Fund are not classified as Excluded Investment Products. Information on the Manager (the “Underlying Manager”) The Underlying Manager of Aberdeen Standard Select Portfolio (the “Underlying Fund”) Aberdeen Standard Investments (Asia) Limited, a wholly-owned subsidiary of the Aberdeen Asset Management PLC (the “Aberdeen Group”), was established in Singapore in May 1992, as the regional headquarters of the Aberdeen Group to oversee all of its Asia-Pacific assets, including collective investment schemes. In August 2017, Aberdeen Asset Management PLC merged with Standard Life plc to form Standard Life Aberdeen plc and Aberdeen Asset Management PLC became a wholly owned subsidiary of Standard Life Aberdeen plc (collectively the “Group”). Aberdeen Standard Investments is the asset management division of the Group. As at end December 2020, Aberdeen Standard Investments had over US$635.2 billion worth of assets under its management. The Aberdeen Group Standard Life Aberdeen plc was created in August 2017 from the merger of Aberdeen Asset Management plc and Standard Life plc. -
Report & Accounts 2018
Report & Accounts 2018 Report & Accounts Derwent London plc Report & Accounts 2018 CONTENTS STRATEGIC REPORT GOVERNANCE 2018 summary ......................................................................................... 04 Introduction from the Chairman ........................................................... 84 Chairman’s statement ............................................................................ 07 Governance at a glance .......................................................................... 86 Chief Executive’s statement .................................................................. 08 Board of Directors ................................................................................... 88 CEO succession ........................................................................................11 Senior management ............................................................................... 90 London: Open for business .....................................................................12 Corporate governance statement ........................................................ 92 Central London office market ................................................................14 Nominations Committee report ......................................................... 100 A well-placed portfolio ............................................................................16 Audit Committee report ....................................................................... 104 Our stakeholders ......................................................................................18 -
M&G (Lux) Investment Funds 1 M&G (Lux) Global Dividend Fund EUR A
31 May, 2021 M&G (Lux) Investment Funds 1 M&G (Lux) Global Dividend Fund EUR A This fund is managed by M&G Luxembourg S.A. EFC Classification Equity Global Price +/- Date 52wk range 12.65 EUR 0.10 28/05/2021 9.19 12.71 Issuer Profile Administrator M&G Luxembourg S.A. The fund has two aims: • To provide a combination of capital growth and income to deliver Address 16, boulevard Royal 2449 a return that is higher than that of the global stockmarket over any five-year period; • To increase the income stream every year in US dollar terms. Core investment: At least 80% City Luxemburg of the fund is invested in the shares of companies across any sector and of any size that Tel/Fax +33 (0)1 71 70 30 20 are domiciled in any country, including emerging markets*. The fund usually holds shares Website www.mandg.com in fewer than 50 companies. Other investment: The fund also holds cash or assets that can be turned quickly into cash. * Emerging market countries are defined as those included within the MSCI Emerging Markets Index and/or those included in the World General Information Bank’s definition of developing economies, as updated from time to time. Strategy in brief: ISIN LU1670710075 The investment manager focuses on companies with the potential to grow their dividends Fund Type Capitalization over the long term. The investment manager selects stocks with different sources of Quote Frequency daily dividend growth to build a... Quote Currency EUR Currency USD Chart 5 year Foundation Date 18/07/2008 Fund Manager Stuart Rhodes Legal Type Investment -
Standard Life Aberdeen (SLA); FTSE 100; Financial Services
Selling: Standard Life Aberdeen (SLA); FTSE 100; Financial Services Managing a portfolio is a lot like managing a garden. In gardening there are regular recurring tasks such as trimming back fast-growing plants and replacing unattractive plants with more attractive alternatives. In a portfolio this means regularly trimming back oversized positions and replacing unattractive holdings with more attractive alternatives. Average purchase price Current price Holding period (including investment in Aberdeen AM) £3.76 £2.90 Feb 2016 to Apr 2021 (5yrs 2mo) Capital gain Dividend income Annualised return (including return of capital from de-mergers) -13.4% 31.2% 4.0% “Standard Life Aberdeen is one of the world’s largest investment companies, the largest active manager in the UK and one of the largest in Europe. It has a significant global presence and the scale and expertise to help clients meet their investment goals.” Overview Standard Life Aberdeen (SLA) originally joined the model portfolio in 2016 as Aberdeen Asset Management, which was then the second largest active fund manager in the UK (second only to Schroders). This investment worked out well, with the 2017 merger of Aberdeen and Standard Life leading to annualised return of 17% at the merger date. I decided to hold on to the SLA shares post merger because Standard Life was a leading asset manager and the combined group promised additional economies of scale and a more diverse and robust business. Four years later and as a more experienced investor, I now think both companies lacked durable competitive advantages and I think that’s true of the combined business too. -
WHAT ARE INVESTMENT ASSETS? • Assets Are What Your Fund Invests In
PORTFOLIO BOND (IPS) – FUNDS KEY FEATURES 5 WHAT ARE INVESTMENT ASSETS? • Assets are what your fund invests in. • The assets that a fund invests in will have a significant impact on the performance of your investment. It’s important that you understand the differences between the main types of assets. • There are four main types of asset and each has its own characteristics: − Equities − Fixed interest securities − Commercial property − Cash. • It’s generally a good idea to invest in a number of different assets so you don’t rely on the performance of one individual asset. This strategy, called ‘diversification’, is basically what funds offer as they spread your investment across lots of assets. • Many funds also invest in more than one type of asset to create even more diversification. • Investing in a mix of funds is another good way to spread your investment. WHAT ARE EQUITIES? NOTES • Equities (also known as 'shares') are a share in a company that allows the owner of those shares to participate in any financial success achieved by • Over the short term, the that company. value of funds investing in equities can go up and • Equities can achieve growth in two ways: down a lot. − Through increases in share prices. The share price reflects the • Company share prices can underlying value of the company. also change dramatically in − Through dividends, which are regular payments made to shareholders response to the activities generally based on the company’s annual profits. and financial performance of individual companies, • Investing in equities is considered by many investment experts to be one as well as being influenced of the best ways to achieve long-term growth. -
27322-ASI Investment Flyer BRO 0817.Indd
An asset manager for today’s global opportunities The coming together of Standard Life Investments and Aberdeen Asset Management under the Aberdeen Standard Investments brand will create the largest active investment manager in the UK* and one of the largest investment houses globally. Assets Investment managed Clients in More than managers in Client support in $718bn** 80 1,000 24 50 countries*** investment offices*** locations*** staff*** ** as of December 31, 2016, £/US$ rate: 1.2356 *** as of May 31, 2017 Source: Standard Life plc, Aberdeen Asset Management PLC “ The industry is changing; we have ensured we are well placed to meet our clients’ evolving needs and remain their trusted partner.” Martin Gilbert, Chief Executive, Standard Life Aberdeen plc * As of May 31, 2017, Source: Standard Life plc, Aberdeen Asset Management PLC An asset manager for today’s global opportunities Standard Life Investments was the investment On-the-ground expertise arm of Standard Life plc, a major UK listed Employing over 1,000 investment professionals, we can draw fi nancial services company which started life upon a breadth of investment talent. Our portfolio managers in 1825. Aberdeen Asset Management plc was are located across 24 offi ces, allowing us to be deeply rooted formed in 1983 via a management buyout and in every market in which we invest. Our uncompromising emphasis on conducting our own fi rst-hand research into has grown from a pioneer investor in Asian and companies and markets helps us fi nd opportunities at an emerging markets into a full-service, UK-listed early stage and screen out market noise. -
ON the SHOULDERS of GIANTS Building on Lessons Learned
SUMMER 2019 ON THE SHOULDERS OF GIANTS Building on lessons learned alliancetrustsavings.co.uk Welcome to the latest edition of Taking Stock. Drawing inspiration It’s natural to be inspired by others who’ve been successful in our eyes. From exceptional bosses and enviable friends to those who seem able to turn everything they touch into gold. Inspiration doesn’t just come from individuals though. Whilst we all understand that past performance is not necessarily a guide to future performance, inspiration can also come from the established track record of a successful team or investing approach. Applying lessons learned In this edition of Taking Stock our expert contributors outline their approach to portfolio management, highlighting lessons learned from those who have come before them. How do they apply those lessons in the interests of investors today? Are there specific formulas for success? Or is it more about sticking to the basics and working hard to get those right? I hope, as ever, that you will find this an informative and interesting read. But please do get in touch if you have any feedback or suggestions for future editions. Sara Wilson Head of Platform Proposition Alliance Trust Savings This general information is provided to support you in making your own investment decisions. It is not a recommendation to buy or sell. Please be aware that the value of investments can fall as well as rise so you could get back less than you invest. Past performance is not a guide to future performance. 8 6 14 16 20 Contents 04 Rise of the activists 14 Inspired to deliver the best of most worlds Whether you see shareholder activists as heroes or villains, For Lucy Macdonald, Portfolio Manager for The Brunner their profile is undoubtedly on the rise. -
Meggitt PLC Annual Report & Accounts 2020
Meggitt PLC Annual Report & Accounts 2020 Introduction Working closely with our Customers, we deliver technologically differentiated systems and products with high certification requirements in aerospace, defence and selected energy markets. Through focusing on engineering and operational excellence, we build broad installed bases of equipment for which we provide through life services and support. Our ambitious and diverse teams act with integrity to create superior and sustainable value for all of our stakeholders. Meggitt PLC Annual Report & Accounts 2020 1 Strategic Report – 1-89 – Report Strategic Strong portfolio Focus on sustainability Strong leadership Diverse end market exposure Next-generation technologies Leading through the with four aligned divisions that create more sustainable pandemic: responding and and efficient aircraft, engines, adapting to the external power and defence systems environment See more on page 20 See more on page 68 See more on page 14 Meggitt PLC 2 Annual Report & Accounts 2020 What’s in the report Contents We deliver innovative solutions Strategic Report for the most demanding 4 Our vision 6 At a glance 8 Chairman’s statement environments. Our differentiated 10 CEO’s statement 14 Our response to COVID-19 products and technologies 16 Market review 20 Strategy 22 Business model satisfy the highest requirements 24 Innovating for the future 28 Strategy in action for product safety, performance 36 Divisional reviews 44 CFO’s review and reliability and we continue 50 Key performance indicators 54 Risk management -
2018 Full-Year Results Strong Organic Growth in All End Markets
26 February 2019 Meggitt PLC 2018 Full-year results Strong organic growth in all end markets Meggitt PLC (“Meggitt” or “the Group”), a leading international engineering company specialising in high performance components and sub-systems for the aerospace, defence and energy markets, today announces audited results for the year ended 31 December 2018. Group headlines % change £m 2018 20171 Reported Organic2 Orders 2,237.2 2,079.4 8 12 Revenue 2,080.6 1,994.4 4 9 Underyling Operating profit3 367.3 353.3 4 4 Earnings per share3 34.2p 32.0p 7 Statutory Operating profit 256.6 272.7 (6) Earnings per share 23.2p 37.8p (39) Free cash flow4 167.4 197.4 (15) Net debt 1,074.1 1,060.8 1 Dividend 16.65p 15.85p 5 Financial highlights • Organic order growth of 12% underpins expectations for long term revenue growth; book to bill5 of 1.08x included strong performance in civil aerospace (1.10x book to bill) • Organic revenue growth of 9% reflects strong performance in growing end-markets; with 7% growth in civil aerospace, 10% in defence and 19% in energy • Underlying operating margin maintained at 17.7%, with efficiencies from strategic initiatives and lower new product introduction costs, offset by growing free of charge (‘FoC’) content and extended learning curve costs at composites sites • Statutory operating profit reflects strong underlying performance and lower exceptional costs, offset by the year on year, non-cash impact of marking to market certain financial instruments • Free cash flow decreased by £30m to £167m, with 63% cash conversion as -
2020 Half Year Report
MidCap_HY_Cover.qxp 25/02/2021 11:25 Page FC1 JPMorgan Mid Cap Investment Trust plc Half Year Report & Financial Statements for the six months ended 31st December 2020 MidCap_HY_Cover.qxp 25/02/2021 11:25 Page IFC2 KEY FEATURES Your Company Objective JPMorgan Mid Cap Investment Trust plc (the ‘Company’) aims to achieve capital growth from investment in medium-sized UK listed companies. The Company specialises in investment in FTSE 250 companies, using long and short term borrowings to increase returns to shareholders. Investment Policies • To focus on FTSE 250 stocks that deliver strong capital growth. • To have significant exposure to the UK economy, with selective exposure to overseas earnings. • To seek out both value stocks and growth stocks, including AIM stocks, to deliver strong performance throughout the market cycle. • To use gearing to increase potential returns to shareholders. • To invest no more than 15% of gross assets in other UK listed investment companies (including investment trusts). The Company’s shares are designed for private investors in the UK, including retail investors, professionally-advised private clients and institutional investors, who seek the potential for capital growth from investment in the UK market and who understand and are willing to accept the risks of exposure to equities. Private investors may wish to consider consulting an independent financial adviser who specialises in advising on the acquisition of shares and other securities before acquiring shares in the Company. Investors should be capable of evaluating the risks and merits of such an investment and should have sufficient resources to bear any loss that may result. -
17 Aerospace Quality Systems (Aqs)
AEROSPACE QUALITY SYSTEMS (AQS) The Aerospace Quality Systems Task Group conducts audits to demonstrate compliance to PRI AC7004. This quality system is required where no quality system approval exists in accordance with Nadcap Program Document PD 1100 and Operating Procedure OP 1103. PRI Staff Engineer Contacts: Task Group Leadership: Susan Frailey, +1.618.615.4478, [email protected] Chairperson: Robin Borrelli, The Boeing Company Mike Gutridge, +1.740.587.9841, [email protected] Vice Chairperson: Scott O’Connor, Honeywell Aerospace Secretary: David Day, GE Aviation Task Group Members Subscriber Voting Members (UVM) The Boeing Company Robin Borrelli Alternate: Patricia Wesemann Atlernate: Tony Marino Cessna Aircraft Company Saeed Cheema Atlernate: Jeff Robb Defense Contract Management Agency (DCMA) Michael Bess Eaton, Aerospace Group David Staten Jr. GE Aviation David Day Honeywell Aerospace Scott O’Connor Northrop Grumman Corporation Russell Cole Rockwell Collins Timothy Krumholz Spirit AeroSystems Chris Davison UTC Aerospace (Goodrich) Angelina Mendoza Supplier Voting Members (SVM) Aero Dynamics Cara Burzynski Tech Met Jim Tuminello The Young Engineers, Inc. David Eshleman AQS Liaisons CMSP Task Group David Day COMP Task Group Sally Spindor CP Task Group Michael Coleman CT Task Group Joel Mohnacky ETG Task Group Gilbert Shelby M&I Task Group Steve Rowe NDT Task Group Pete Torelli NMSE Task Group Jeff Robb WLD Task Group Saeed Cheema 17 CHEMICAL PROCESSING (CP) The Chemical Processing Task Group is conducting audits to demonstrate compliance to the AC7108 series of documents. These audits address the following types of processes: •Anodizing •Etching •Stripping •Chemical Cleaning •Laboratory Evaluation •Surface Prep Prior to Metal Bond •Chemical Milling •Paint/Dry Film Coatings •Surface Treatment/Passivation •Conversion/Phosphate Coating •Plating • Vacuum Cadmium & Aluminium IVD PRI Staff Engineer Contacts: Task Group Leadership: Ethan Akins +1.724.772.8524 [email protected] Chairperson: Mike Stolze, Northrop Grumman Corp.