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MARKS & SPENCER HIGH INCOME

MARKS & SPENCER HIGH INCOME - Overview

Overview of MARKS & SPENCER HIGH INCOME

Bestinvest research covers the funds we currently highlight and the most popular funds chosen by our clients over the years. MARKS & SPENCER HIGH INCOME does not fall into either of these categories at present.

  • Standard Initial Charge 0.00%
  • Initial charge via Bestinvest 0.00%

Fund summary

Sector £ Strategic Bond
Structure UNIT TRUST
Launched February, 1997
Size £284m
Yield 3.7%
Charging basis Capital
Dividends paid 31 Mar, 30 Jun, 30 Sep, 31 Dec.

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.00%
Total expense ratio 1.00%

Risks

Before investing make sure you have understood the risks relevant to the fund by reviewing our Risk Warnings section. Further information on the risks are contained in the fund's Key Investor Information Document, which we make available to you before you make a decision to invest, alternatively it is available on request.

Bestinvest view

No information available.

Portfolio

Allocation Proportion(%)
Equity 0
High yield bonds 27
Quality bonds 71
Property 0
Commodities 0
Hedge 0
Fund cash 2
Allocation Proportion(%)
UK 0
Europe 0
North America 0
Japan 0
Pacific 0
Other Equity 0
Allocation Proportion(%)
Large Caps 0
Mid Caps 0
Small Caps 0

View all performance data for this fund

Investment process

The fund aims to provide a high level of income. The Manager may invest in fixed & variable rate securities and equities from anywhere in the world. At any time the portfolio may contain a combination of any or all of the aforementioned securities.

Live feed

Bid price(inc) (0.60p) 114.10p
Accum units 230.80p
Fund commentary
Fund data updated on 19/12/14

Asset allocation

Allocation Proportion(%)
Equity 0
High yield bonds 27
Quality bonds 71
Property 0
Commodities 0
Hedge 0
Fund cash 2

Equity Geographic

Allocation Proportion(%)
UK 0
Europe 0
North America 0
Japan 0
Pacific 0
Other Equity 0

Equity Capitalisation

Allocation Propor
tion(%)
Large Caps 0
Mid Caps 0
Small Caps 0

Top 10 holdings

As at: 31/01/2014
5.36% Treasury 1.75% Gilt 07/09/22 Gbp
1.67% European Investment Bank 4.5% Mtn 07/03/44 Gbp1000
1.56% Kreditanstalt Fuer Wiederaufbau Kfw 5.75% Bds 7/6/2032 Gbp1000
1.5% Russian Federation 7.5% 31/03/2030
.99% General Electric Capital Corp 4.875% Nts 18/09/37 Gbp(Var)
.85% Network Rail Infrastructure Finance 4.75% Nts 29/11/35 Gbp50000
.82% Venezuela(Republic Of) 8.25% Nts 13/10/24 Usd1000`Regs`
.81% Edf 6.125% Nts 02/06/34 Gbp50000
.8% Western Power Dist.(Sth Wales)Plc 9.25% Bds 9/11/2020 Gbp(Var)
.78% Tesco Property Finance 6 Plc 5.4111% Bds 13/07/44 Gbp100000
Source: Trustnet

Sector breakdown

BBB 22%
AAA 12%
BBB+ 10%
A- 9%
BBB- 6%
BB 5%
BB- 5%
BB+ 4%
Money Market 4%
AA 3%

Portfolio details

The fund has a net asset value of 76.2%.

Constraints

The minimum lump sum investment is £100, following this monthly sums can be added of a minimum value of £25.

Average monthly relative returns Bestinvest MRI
09/10 10/11 11/12 12/13 13/14   3 years 5 years Career 3 years 5 years Career
-0.28% -0.51% 0.07% -0.24% 0.01%   -0.05% -0.19% -0.17% 66.60% 20.10% 23.90%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Peter Bentley

Manager. Bentley is a Vice President and portfolio manager at PIMCO Europe, responsible for Sterling and Euro investment grade credit portfolios. Prior to joining PIMCO, he ran corporate bond portfolios for four years at Morley Investment Management, before which he spent three years at Schroders running balanced portfolios and four years at the Bank of England as a market analyst and supervisor. He holds a BA Hons in Economics and Econometrics from Nottingham University and successfully completed the IMC and IIMR (now SIP) Associate exams during his time at Schroders. Bentley is a member of the UK SIP and AIMR.

Track record

Peter Bentley has 9.6 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.17%. During the worst period of relative performance (from March 2004 - August 2013) there was a decline of 20% relative to the index. The worst absolute loss has been 7%.

Periods of worst performance
Absolute -7% (April 2013 - August 2013)
Relative -20% (March 2004 - August 2013)

Other funds managed

Sector record since February 2004 (10 yrs)




About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

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