Disclaimer and Important Information

Investments referred to on this website may be suitable only for sophisticated investors and any investment should only be made on the basis of the offer document relating to the specific investment. It is the responsibility of investors to satisfy themselves that an investment is suitable for them and applications may only be made on this basis using the appropriate application forms. Click here for further information about the general risk involved in investments with Maven and what you should do if you are in any doubt as to the suitability of an investment for you.

Important Information
Past performance is not a guide to future returns.The value of investments and the income from them may go down as well as up and is not guaranteed. An investor may not get back the amount originally invested. Investors should seek independent financial advice as to whether investment in the fund is suitable Click here for further information about the risks involved in investment.


The VT Maven Smart Dividend Fund UK, previously the Munro UK Dividend Fund, is a tracker OEIC, investing in the largest 300 constituents (excluding Investment Trusts) on the London Stock Exchange.

The fund aims to deliver an optimised risk adjusted return and is suitable for long term investors and those seeking a regular income, through either accumulation or income shares.

Fund Overview

More Information

KIID - A Class            
KIID - B Class            
KIID - X Class            

The fund uses a unique investment model to maximise the overall return for investors, based on consensus dividend forecasts published by the leading analysts for each company.

The model employs a process which calculates the weight of the fund’s holdings, with allocations based on a fundamental measure of the quality of the underlying businesses, rather than the share price method used by most index funds.

In this way the fund is able to avoid the price bias, typical of many trackers, and effectively bridge the gap between active and passive funds.

Financial News

Wednesday 22nd October.  

GSK t/o fell 3% in Q3 and plans to return £4b to shareholders in 2015, 3 div unchanged at 19p/share.

Home Retail maintained its interim dividend of 1p a share on PBT down 5% to £13.5m.

Spirit Pub Company increased its interim dividend 8% on PBT up 11% to £60m.

Playtech reported a 28.6% increase in revenue in Q3 to e116.5m.

Laird reported a 6% increase in revenue for Q3 to £150m.

British American Tobacco revenue declined 9.6% in the nine months to 30th Sept.

BHP Billiton reported a 9% increase in production in Q3.

Key Features

  • Dividend paid quarterly
  • Low volatility – resulting in reduced risk
  • A defined and transparent investment process
  • A clear value bias - greater weighting to larger dividend paying companies
  • Process driven – avoids the ‘star manager’ focus, and not reliant on key individuals
  • Low minimum investment level
  • Low annual management charge and no initial charge

Income or Accumulation?

The fund offers the option of taking income out four times a year from the dividends paid by the underlying investments. Alternatively, that dividend income can be retained in the fund and reinvested for additional capital growth. That is why the share prices for Income and Accumulation shares in each class are different, and will become more different over time.