For qualified investors in Chile

Strategic Bond Fund

A world bond strategy seeking the best opportunities throughout the economic cycle.

ISIN
GB0007502080

NAV
GBP 118.90p
As of 26/01/2023

1-Day Change
GBP 0.00p (0.00%)
As of 26/01/2023

Morningstar Analyst Rating
Silver Morningstar Analyst Rating
As of 31/12/2022

Overview

INVESTMENT OBJECTIVE

The Fund aims to provide a return, from a combination of income and capital growth over the long term.
Performance target: To outperform the IA Sterling Strategic Bond sector average, after the deduction of charges, over any 5 year period.

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The Fund invests in a global portfolio of bonds of any quality, including high yield (non-investment grade) bonds, issued by governments or companies. Where investments are made in assets in currencies other than the base currency of the Fund, the Fund will seek to hedge those assets back to the base currency to remove the risk of currency exchange rate movements.
The Fund may also hold other assets including bonds of other types from any issuer, preference shares, cash and money market instruments.
In certain market conditions, the Fund may invest more than 35% of its assets in government bonds issued by any one body.
The investment manager may use derivatives (complex financial instruments), including total return swaps, with the aim of making investment gains in line with the Fund's objective, to reduce risk or to manage the Fund more efficiently.

The Fund is actively managed with reference to the IA Sterling Strategic Bond sector average, which is based on a peer group of broadly similar funds, as this forms the basis of the Fund's performance target. The investment manager has complete freedom to choose individual investments for the Fund and to vary allocations between different types of bonds.

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The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested.
Potential investors must read the prospectus, and where relevant, the key investor information document before investing.
This website is a Marketing Communication and does not qualify as an investment recommendation.

ABOUT THIS FUND

  • Seeks to provide returns through a combination of income and capital growth.
  • Actively managed, the portfolio can be adapted quickly to suit the prevailing market environment.
  • Aims to keep risk and liquidity at a desired level consistent with the fund's risk profile.
Past performance does not predict future returns. 
 

PORTFOLIO MANAGEMENT

Jenna Barnard, CFA

Co-Head of Global Bonds | Portfolio Manager

Industry since 2001. Joined Firm in 2002.

John Pattullo

Co-Head of Global Bonds | Portfolio Manager

Industry since 1993. Joined Firm in 1997.

Performance

Past performance does not predict future returns. All performance data includes both income and capital gains or losses and reflects the deduction of any ongoing charges or other fund expenses.
Cumulative & Annualised Performance (%)
As of 31/12/2022
I Inc (Net) IA £ Strategic Bond
 
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
22/10/1999
I Inc (Net) -1.54 -17.58 -17.58 -3.08 -0.32 2.21 4.46
IA £ Strategic Bond -0.43 -11.70 -11.70 -1.85 0.14 2.12 3.48

Peer Group Description

The Investment Association (IA) groups funds with similar geographic and/or investment remit into sectors. The Fund's ranking within the sector (as calculated by a number of data providers) forms the basis of the Fund's performance target and can be a useful performance comparison against other funds with similar aims.

Calendar Year Returns (%)
As of 31/12/2022
I Inc (Net) IA £ Strategic Bond
2022 2021 2020 2019 2018
I Inc (Net) -17.58 0.06 10.38 9.51 -1.30
IA £ Strategic Bond -11.70 0.93 6.08 9.23 -2.48

Peer Group Description

The Investment Association (IA) groups funds with similar geographic and/or investment remit into sectors. The Fund's ranking within the sector (as calculated by a number of data providers) forms the basis of the Fund's performance target and can be a useful performance comparison against other funds with similar aims.

Calendar Year Returns (%)
Year I Inc (Net) Index
2022 -17.58 0.00
2021 0.06 0.00
2020 10.38 0.00
2019 9.51 0.00
2018 -1.30 0.00
2017 5.99 0.00
2016 4.44 0.00
2015 2.28 0.00
2014 6.70 0.00
2013 4.63 0.00
2012 18.54 0.00
2011 -1.45 0.00
2010 5.39 0.00
2009 32.60 0.00
2008 -12.79 0.00
2007 0.93 0.00
2006 5.23 0.00
2005 8.55 0.00
2004 10.60 0.00
FEE INFORMATION
Initial Charge 0.00%
Annual Charge 0.60%
Ongoing Charge
(As of 30/06/2022)
0.70%

Portfolio

Top Holdings (As of 31/12/2022)
% OF FUND
United Kingdom Gilt 4.25% 2032 7.05
United States Treasury Note 1.50% 2027 3.18
United Kingdom Gilt 1.25% 2027 3.17
United States Treasury Note 2.875% 2032 2.45
Australia Government Bond 1.25% 2032 2.17
Australia Government Bond 0.25% 2025 2.16
United States Treasury Note 3.25% 2029 2.04
Australia Government Bond 2.75% 2041 2.02
United Kingdom Gilt 1.00% 2024 1.94
Alphabet 1.998% 2026 1.93

Documents

  • The value of the Funds and the income from them is not guaranteed and may fall as well as rise. You may get back less than you originally invested.
  • Past performance does not predict future returns.
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
  • An issuer of a bond (or money market instrument) may become unable or unwilling to pay interest or repay capital to the Fund. If this happens or the market perceives this may happen, the value of the bond will fall.
  • When interest rates rise (or fall), the prices of different securities will be affected differently. In particular, bond values generally fall when interest rates rise. This risk is generally greater the longer the maturity of a bond investment.
  • The Fund invests in high yield (non-investment grade) bonds and while these generally offer higher rates of interest than investment grade bonds, they are more speculative and more sensitive to adverse changes in market conditions.
  • If a Fund has a high exposure to a particular country or geographical region it carries a higher level of risk than a Fund which is more broadly diversified.
  • The Fund may use derivatives towards the aim of achieving its investment objective. This can result in 'leverage', which can magnify an investment outcome and gains or losses to the Fund may be greater than the cost of the derivative. Derivatives also introduce other risks, in particular, that a derivative counterparty may not meet its contractual obligations.
  • When the Fund, or a hedged share/unit class, seeks to mitigate exchange rate movements of a currency relative to the base currency, the hedging strategy itself may create a positive or negative impact to the value of the Fund due to differences in short-term interest rates between the currencies.
  • Securities within the Fund could become hard to value or to sell at a desired time and price, especially in extreme market conditions when asset prices may be falling, increasing the risk of investment losses.
  • Some or all of the ongoing charges may be taken from capital, which may erode capital or reduce potential for capital growth.
  • The Fund could lose money if a counterparty with which the Fund trades becomes unwilling or unable to meet its obligations, or as a result of failure or delay in operational processes or the failure of a third party provider.
  • Funds incur costs as a necessary part of buying and selling the underlying investments, these are otherwise known as portfolio transaction costs, and include charges such as broker commission and Stamp Duty.
  • Before investing in any of our funds you should satisfy yourself as to the suitability and the risks involved.
  • Summary of Investor rights