Aegon Investment Grade Bond B

Global quality bond fund with most currency exposure hedged into sterling.

  • 134.00p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • 217.26p
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.75%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 0.79%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 2.40%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 15 January 2021

Fund summary

Sector £ Corporate Bond
Structure OEIC
Launched June, 2006
Size £0m
Yield 2.40%
Charging basis Income
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 0.75%
Ongoing charges figure 0.79%

Allocation

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Investment process

The primary investment objective is to maximise total return (income plus capital) by investing primarily in investment grade and government bonds denominated in sterling and other currencies. The fund may hold a maximum of 20% in high yield bonds and may also hold cash. A minimum of 80% of fund will be hedged back to sterling.

Manager research

Average monthly relative returns

  • 16/17 -0.26%
  • 17/18 0.14%
  • 18/19 -0.14%
  • 19/20 -0.13%
  • 20/21 0.01%

Bestinvest MRI

  • 3 years -0.08%
  • 5 years -0.07%
  • Career -0.04%
  • 3 years 43.60%
  • 5 years 47.60%
  • Career 77.00%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Stephen Snowden / Euan Mcneil

Snowden rejoined Kames (ex Aegon) in 2011 from Old Mutual Asset Managers. He previously joined Aegon Asset Management in 1994, spending four years with the US Equity Team before moving to the fixed interest desk in 1998. He resigned from Aegon in 2003 and joined OMAM in 2004. Snowden has a first class masters degree in Finance from Queens University, Belfast. McNeil joined AEGON in 2003 from Britannic Asset Management, where he spent the previous two years on the corporate bond desk. Prior to joining Britannic, he was a portfolio manager covering Far East equities at Blairlogie. McNeil has an honours degree in economics and French from the University of Strathclyde, and an MSc in investment analysis from the University of Stirling.

Track record

Stephen Snowden / Euan Mcneil has 9.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.04%. During the worst period of relative performance (from January 2013 - April 2020) there was a decline of 7% relative to the index. The worst absolute loss has been 7%.

Periods of worst performance

Absolute -7.00% (January 2020 - March 2020)
Relative -7.00% (January 2013 - April 2020)

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.

Allocation

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Top 10 holdings

Data accurate as at 31 July 2020

1.9614% Western Power Distribution East Mid 3.5% Nts 16/10/26 Gbp100000
1.7766% Bishopsgate Asset Finance Gtd Ast Bckd 4.808% Nts 14/8/44 Gbp50000
1.6638% Hm Treasury United Kingdom Dmo 1.75% Gilt 22/07/57 Gbp0.01
1.5775% Telereal Secured Finance 4.01% Nts 10/12/33 Gbp1000
1.503% Cadent Finance Plc 2.625% Inst 22/09/38 Gbp100000
1.4743% Yorkshire Water Finance Plc 3.75% Fr Unwrp Gtd Bds 22/3/46 Gbp100000
1.4204% E.on International Finance 5.875% Bds 30/10/37 Gbp50000
1.3181% Anglian Water Serv F
1.2739% Hbos Sterling Finance(Jersey) 7.881% Gtd Non Vtg Non Cum Prf Gbp
1.2195% Kreditanstalt Fur Wiederaufbau Kfw 5.75% Bds 7/6/2032 Gbp1000
Source: Trustnet

Sector breakdown

Others 44.00%
Financials 38.00%
Mortgage & Secured Bonds 9.00%
Money Market 4.00%
Government Bonds 2.00%
Government Agency Bonds 1.00%
Fixed Interest 1.00%
Asset/Mortgage-Backed Securities 1.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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