SCOTTISH WIDOWS CORPORATE BOND B - Fund overview
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Overview of
SCOTTISH WIDOWS CORPORATE BOND B
This fund invests predominantly in investment grade corporate bonds to provide a reasonable level of monthly income. Holdings will be denominated in Sterling, issued by companies domiciled in the UK or Europe. Economic views are combined with extensive company research to identify where the relative value resides. Experienced set of investment managers influencing the portfolio.
Standard Initial Charge
3.50% 0.00%
Fund summary
| Sector |
£ Corporate Bond
|
| Product type |
OEIC
|
| Launched |
August, 1995
|
| Size |
£3,269m
|
| Yield |
4.6%
|
| Charging basis |
Income
|
| Dividends paid |
31/1, 30/4,
31/7, 31/10.
|
| Bid price(inc) |
109.60p |
| Bid price(acc) |
235.00p |
Fund Charges
|
Standard Initial charge
|
3.50%
|
|
Initial charge via Bestinvest
|
0.00%
|
|
Additional bid/offer spread
|
0.00%
|
|
Annual management charge
|
0.75%
|
|
Total expense ratio
|
0.87%
|
|
Reduction in yield (10yr)
|
0.87%
|
Bestinvest says
No information available.
Portfolio
| Allocation |
Proportion |
|
|
Equity |
–
|
|
High yield bonds |
4%
|
|
Quality bonds |
93%
|
|
Property |
–
|
|
Commodities |
–
|
|
Hedge |
–
|
|
Fund cash |
3%
|
|
Allocation
|
Proportion
|
|
|
|
|
UK
|
100%
|
|
|
Europe
|
0%
|
|
|
Nth America
|
0%
|
|
|
Japan
|
–
|
|
|
Pacific
|
–
|
|
|
Other Equity
|
–
|
View all performance data for SCOTTISH WIDOWS CORPORATE BOND B
Investment process
The fund objective is to provide an attractive level of income without eroding the capital value, through investment mainly in corporate bonds denominated in Sterling. The portfolio is constructed using a combination of big picture macro analysis and in-depth company assessment. The team strategy toward sectors and asset classes is formed using input from the Government debt team, house economists and the corporate bond team, taking into account the economic outlook, credit cycle and any relevant industry factors.
The individual stock analysis includes fundamental company research, bond structure/covenants and relative valuation, looking to identify cash generative businesses. The majority of this company analysis is carried out by the credit team, but they will maintain close dialogue with the relevant in house equity analysts. A number of key characteristics are assessed including, amongst others, extent of leverage, pricing power and event risk. Bond price driving factors are also considered for example liquidity, supply/demand and equity price behaviour.