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ii Super 60 - GAM Star Credit Opportunities £

ii Super 60 investments:
GAM Star Credit Opportunities £

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Asset Group Asset Sub-Group Investment Category
Fixed Income Sterling bonds Smaller cap

Selection rationale:
The fund aims to provide investors with a high income from high quality bonds. Managers Anthony Smouha and Grégoire Mivelaz achieve this by lending to investment grade companies, ideally for 10 years or more.

Instead of buying their ‘senior’ bonds, which are first in line for repayment if a company goes bust, the managers opt for their ‘junior’ or ‘subordinate’ bonds. They look for companies that are doing well in the belief that they are unlikely to default on their debt commitments whether they are senior, junior or subordinate. They say this approach is more akin to an equity fund manager’s, because it means focusing on the health of the company rather than what would happen if something goes wrong, as bond managers tend to.

The fund also holds ‘fixed-to-floater’ bonds. These provide a fixed interest for a specified period and then float at a spread over a specified benchmark, which is regularly re-set and can move in line with interest rates.

This fund is a long-standing winner of Money Observer awards. It was crowned Best Larger Sterling Bond fund in 2015 and 2016, and Best Sterling Bond Fund in 2017 when we judged funds of all sizes under one category and retained the title in 2018.

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The information we provide in the Super 60 investments list is an opinion provided by ii or one of its partners on whether to buy a specific investment. None of the opinions provided are a “personal recommendation”, therefore you should ensure that any investment decisions you make are suitable for your personal circumstances. Past performance of the underlying constituents is not a guarantee of future performance. Remember, the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest.

Risk warnings

Past performance of the underlying constituents is not a guarantee of future performance. The value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. 

Annual performance can be found on the factsheet of each fund, trust or ETF. Simply click on the asset’s name and then the performance tab. 

The information we provide in the ii Super 60 investments list is an opinion provided by ii or one of its partners on whether to buy a specific investment. Please note that none of the opinions we provide are a “personal recommendation”, which means that we have not assessed your investing knowledge and experience, your financial situation or your investment objectives. Therefore you should ensure that any investment decisions you make are suitable for your personal circumstances.

If you are unsure about the suitability of a particular investment or think that you need a personal recommendation, you should speak to a suitably qualified financial advisor. 

Any changes to the ii Super 60 investments list and the rationale behind those decisions will be communicated through the Quarterly Investment Outlook.

Details of all recommendations issued by ii during the previous 12 month period can be found here.

ii adheres to a strict code of conduct. Members of ii staff may hold shares in companies mentioned in the ii Super 60 investments list, which could create a conflict of interest. Any member of staff intending to complete some research about any financial instrument in which they have an interest are required to disclose such interest to ii. We will at all times consider whether such interest impairs the objectivity of the recommendation.

In addition, staff involved in the production of this ii Super 60 list are subject to a personal account dealing restriction. This prevents them from placing a transaction in the specified instrument(s) for five working days before and after an investment is included or amended and made public within the list. This is to avoid personal interests conflicting with the interests of the recipients of this ii Super 60 investments list.