Since 1998, the earnings of companies in the market have doubled and over the same period the index has fallen about 10%. In essence, the valuation of UK equities has halved. Our track record to date has to be considered in that context.
We know more than we did in 1998. We have learned lessons from our mistakes, built up a big body of knowledge in the industries we invest in and honed a process that works.
This table shows Phoenix UK Fund Investment Returns versus FTSE All-Share since inception.
| Year | Investment Return (Gross) | NAV Return (Net) | All Share Index | Share Price £ | ||||
|---|---|---|---|---|---|---|---|---|
| Launch | 1,000.00 | |||||||
| 1998 [8 months] | 17.6% | 14.4% | -3.3% | 1,143.71 | ||||
| 1999 | -1.3% | -4.6% | 24.3% | 1,090.75 | ||||
| 2000 | 24.7% | 23.0% | -5.7% | 1,341.46 | ||||
| 2001 | 31.7% | 26.0% | -13.1% | 1,690.09 | ||||
| 2002 | -17.8% | -20.1% | -22.6% | 1,349.64 | ||||
| 2003 | 51.5% | 49.8% | 20.9% | 2,021.24 | ||||
| 2004 | 14.1% | 11.2% | 12.8% | 2,247.26 | ||||
| 2005 | 1.4% | 0.3% | 22.0% | 2,254.99 | ||||
| 2006 | 9.5% | 8.3% | 16.8% | 2,442.90 | ||||
| 2007 | 3.4% | 2.3% | 5.3% | 2,498.40 | ||||
| 2008 | -39.5% | -40.2% | -29.9% | 1,494.31 | ||||
| 2009 | 62.8% | 59.7% | 30.2% | 2,386.48 | ||||
| 2010 | 1.1% | 0.0% | 14.7% | 2,386.37 | ||||
| 2011 | 3.0% | 1.9% | -3.2% | 2,430.75 | ||||
| 2012 | 48.3% | 42.2% | 12.5% | 3,456.27 | ||||
| 2013 | 40.5% | 31.3% | 20.9% | 4,539.47 | ||||
| 2014 | 1.9% | 0.1% | 1.2% | 4,544.25 | ||||
| 2015 | 20.1% | 14.7% | 0.9% | 5,211.13 | ||||
| 2016 | 9.1% | 7.6% | 16.8% | 5,605.58 | ||||
| 2017 | 21.5% | 16.3% | 13.1% | 6,518.69 | ||||
| 2018 | -13.6% | -14.7% | -9.5% | 5,558.97 | ||||
| 2019 | 30.3% | 27.7% | 19.1% | 7,098.36 | ||||
| 2020 | -3.9% | -4.9% | -9.7% | 6,748.66 | ||||
| 2021 | 23.4% | 18.7% | 18.3% | 8,011.17 | ||||
| 2022 | -16.7% | -17.4% | 0.2% | 6,619.32 | ||||
| 2023 | 34.0% | 32.8% | 7.7% | 8,791.99 | ||||
| 2024 (to March 31) | -0.7% | -0.9% | 3.6% | 8,710.05 | ||||
| Cumulative | 1493.1% | 771.0% | 271.7% | |||||
| Annualised Returns | 11.3% | 8.7% | 5.2% |