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ii Super 60 - Marlborough Global Bond

ii Super 60 investments

ii Super 60 investments:
Marlborough Global Bond

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Asset Group Asset Sub-Group Investment Category
Fixed Income Global bonds Income

Selection rationale:
Marlborough Global Bond is a one-stop shop for cautious bond investors, as the managers adopt a cautious approach to investing. They aim to capture gains when markets rise while protecting investors’ money when they fall. Its broader-based, conservative portfolio makes this a decent core holding. It pays a competitive yield of around 3% and distributes income half-yearly.

At the helm is Geoff Hitchin, who helped with the fund’s launch in 1987 and has now run it for 32 years. Nicholas Cooling, its co-manager since 1999, recently stepped down, with Danny Fox joining Marlborough in 2018 as assistant manager. They believe that by holding a good spread and selecting individual bonds carefully, they can manage volatility and achieve consistent performance.

The managers invest across the globe in bonds with different maturities and credit ratings, and in different currencies. The fund has almost 500 holdings – considerably more than most comparable funds. The largest holdings accounts for just 1.7% of the portfolio. At the end of March 2020, the fund’s largest exposure in terms of credit quality was to BBB rated bonds, which are classed as investment grade, where it had 46% of assets. It had a good spread of assets geographically, with 36% in the US and 26% in the UK, the dollar and sterling being its main currency exposures.

April 2020

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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.