Royal London Global Bd Opps Z GBP

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Trading AccountISAJISASIPP

Fund Info

  • Yield History5.24%
  • 3 Year sharpe0.46
  • 3 Year alpha5.01
  • Distribution Typeincome
  • BenchmarkIA Sterling Strategic Bond
  • Legal StructureOpen Ended Investment Company
  • Fund Size (month end)Open Ended Investment Company
  • OCF0.53%
  • IA Sector£ Strategic Bond
  • Manager GroupRoyal London
  • DomicileIreland

Investment Strategy

The investment objective of the Fund is to achieve a high level of income with the opportunity for capital growth. The Fund seeks to achieve its investment objective by investing predominantly in non-Sterling and Sterling denominated fixed income securities, as described further below, issued globally, including in Emerging Markets. The Fund seeks to achieve its investment objective by investing its assets in a diversified portfolio of global fixed or floating rate debt securities (rated or non-rated), including investment grade, sub-investment grade or high yield. The Fund may also invest in preference shares.

ii Super 60 selected

This Fund is a member of our ii Super 60 rated list

Eric Holt, a bond veteran, and Rachid Semaoune have run this flexible bond fund since it launched in late 2015. Holt has extensive knowledge of investment grade and high yield corporate bonds, gained over a career spanning 40 years. He has overall responsibility for Royal London Asset Management’s credit research process. Semaoune joined Royal London’s fixed income team in 2015 and has almost 20 years’ experience in credit markets.

With this fund, the pair run a well-diversified portfolio of around 200 holdings, predominantly focused on international credit markets. US and European debt account for more than 70% of the portfolio. UK debt accounts for around 20%. In terms of credit quality, the fund prefers high-yield and unrated bonds.

The managers believe that corporate bonds remain attractive over the medium term, while the level of income generation is also appealing given the prospect of short-term interest rates staying lower for longer.

October 2020

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