Allianz Strategic Bond A

  • 209.85p
    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!

  • 1.25%
    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).

  • 1.44%
    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.

  • 0.80%
    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 23 November 2020, fund data last updated 31 March 2006

The fund has a flexible strategy which aims to be able to outperform its benchmark in any market environment by adjusting its exposures to rates, credit, inflation or currencies through the economic cycle, and revolving its holdings into different fixed income assets based upon the investment outlook. The fund has an unconstrained global mandate and has outperformed in many different as well as challenging market environments. Investors should be aware that the Fund's capital is at risk and there is no guarantee that the Fund will achieve its investment objective over any particular period or at all.

Fund summary

Sector £ Strategic Bond
Structure OEIC
Launched
Size £2,307m
Yield 0.80%
Charging basis Capital
Dividends paid 30 Apr, 31 Oct

Charges

Standard initial charge 4.00%
Initial charge via Bestinvest 0.00%
Annual management charge 1.25%
Ongoing charges figure 1.44%

Allocation

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Investment process

The portfolio managers implement a global macro investment approach – all macroeconomic research is conducted internally using proprietary techniques, and the portfolio management input is central to idea generation and portfolio construction. The portfolio management team sit next to each other in our London office and are in constant contact over market developments and idea generation. In addition, a formal weekly meeting is scheduled every Monday morning in which the investment outlook guiding the strategy is reviewed and scrutinised. Risk management processes involve not just the Portfolio Managers, as the first line of defence, but include the wider leadership team of the AllianzGI Fixed Income platform, including the CIO, as well as periodic inputs from the independent Risk Management function within the business.

The fund offers a different approach to managing the portfolio – more “top down”, an IG, 2/3 sovereign benchmark and a wider set of potential alpha sources. The fund aims for a zero correlation with equity markets (it is actually marginally negative) and a strong peer relative performance under more normal market conditions. Over a full market cycle (i.e. including at least one period of dislocation) its performance is very strong whilst drawdown/ volatility is relatively low.

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

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

Track record

Periods of worst performance

Absolute 0.00% ()
Relative 0.00% ()

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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Sector breakdown

Government Bonds 42.00%
Corporate Bonds 36.00%
Government Guaranteed 17.00%
Money Market 3.00%
Foreign Exchange 2.00%

Portfolio

The portfolio will usually consists of 80-100 names. The fund will not invest in debt rated below B. Maximum holding outside of Government backed bonds is 5%.

Key Investor Information

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