Alliance Trust SF Corporate Bond SC1

  • 0.00p
    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.

  • -
    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?

  • 4.00% 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!

  • 1.00%
    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).

  • 1.12%
    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.

  • 0.00%
    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…

Fund summary

Sector £ Corporate Bond
Structure X-OEIC
Launched February, 2001
Size £328m
Yield 0.00%
Charging basis
Dividends paid

Charges

Standard initial charge 4.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.00%
Ongoing charges figure 1.12%

Allocation

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Investment process

The Socially Responsible Investment team believe that those companies which are most likely to grow consistently over the next few decades are those that are promoting or benefiting from sustainable economic development. Thus the team actively seek out companies which have or are taking steps to providing solutions to environmental and social problems. Companies that qualify on this basis, are then assessed as potential investments, which is guided by the house macroeconomic view, and the company's considerable research base. There are however, a number of areas which are strictly out of bounds. These include: - Manufacture of cigarettes and other tobacco products. - Ownership, management or construction of nuclear power stations. - Manufacture or marketing of arnaments, including weapons, weapon platforms and munitions. - Any company whose principal business involves gambling. - Any company deriving a significant proportion of their turnover from the manufacture and sale of alcohol.

Manager research

Average monthly relative returns

  • 15/16 -0.24%
  • 16/17 -0.06%
  • 17/18 -0.08%
  • 18/19 -0.24%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career -0.11%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 27.10%

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

Stuart McMaster

McMaster joined Alliance Trust in January 2010. He started his career at Standard Life Assurance in 1980 and covered a number of roles before becoming an Investment Manager in the Fixed Income and Cash Management team in 1986. In 1992 he moved to Scottish Widows as a Portfolio Manager with responsibility for corporate bond management across a number of clients and the management of cash funds. During his time at Scottish Widows he assumed management responsibility as Head of Credit, moving on to become Head of Bond Fund Management and latterly to Head of Aggregate Bond Fund Management.

Track record

Stuart Mcmaster has 10.1 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.11%. During the worst period of relative performance (from February 1998 - August 2017) there was a decline of 15% relative to the index. The worst absolute loss has been 6%.

Periods of worst performance

Absolute -6.00% (April 2013 - June 2013)
Relative -15.00% (February 1998 - August 2017)

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 30 September 2015

4.2% Lloyds Banking
3.7% Uk Gilts
3.2% University Of Liverpool
2.8% Ppl Corp.
2.8% British Telecom
2.5% Transport For London
2.2% Deutsche Telekom 1.3%
2.2% Motability Operations
2.2% Kelda Group
2% Scottish & Southern Energy
Source: Trustnet

Sector breakdown

Medium dated bonds 75.00%
Long dated bonds 24.00%
Short dated bonds 1.00%

Portfolio

Number of holdings is around 35 with the top 10 normally accounting for up to a third of the portfolio.

Key Investor Information

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