ASI European High Yield Bond I

Pan European fund investing in corporate and government debt of any credit rating.

  • 101.24p
    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.

  • 159.58p
    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!

  • 0.70%
    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).

  • 0.85%
    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.

  • 4.50%
    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 £ High Yield
Structure OEIC
Launched October, 2012
Size £50m
Yield 4.50%
Charging basis Capital
Dividends paid Monthly

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.70%
Ongoing charges figure 0.85%

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Investment process

The fund's objective is to provide an attractive level of income with the opportunity for some long-term capital growth. The Fund will invest mainly in non-investment grade fixed interest securities issued by companies, governments, government related bodies and supranational institutions that are domiciled in the UK or Europe, which the Manager believes are likely to produce a high yield. Investments may be of any credit quality and may include securities not paying interest currently and securities in default following purchase.

Manager research

Average monthly relative returns

  • 16/17 -1.28%
  • 17/18 -0.35%
  • 18/19 -0.14%
  • 19/20 0.40%
  • 20/21 -0.08%

Bestinvest MRI

  • 3 years 0.06%
  • 5 years -0.29%
  • Career -0.09%
  • 3 years 66.70%
  • 5 years 23.30%
  • Career 47.60%

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

Aberdeen High Yield Team

Track record

Aberdeen High Yield Team has 9.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.09%. During the worst period of relative performance (from November 2015 - July 2019) there was a decline of 24% relative to the index. The worst absolute loss has been 18%.

Periods of worst performance

Absolute -18.00% (April 2011 - September 2011)
Relative -24.00% (November 2015 - July 2019)

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

2.6% Ziggo Bond Co Bv 3.375% Bds 28/02/30 Eur100000reg S
2.3% Nassa Topco As 2.875% Snr Nts 06/04/24 Eur100000 Reg S
2% Cybg 8% Var Perp Gbp
1.9% Rac 5% 06/11/22 Regs Gbp
1.8% Petroleos Mexicanos 5.125% Bds 15/03/23 Eur100000
1.7% Blitz F18-674 Gmbh 6% Bds 30/07/26 Eur100000
1.6% Telecom Italia Finance 7.75% Bds 24/1/33 Eur1000
1.6% Teva Pharmaceutical Fin Neth Ii Bv 4.5% Bds 01/03/25 Eur1000
1.5% Matterhorn Telecom Sa 3.125% Bds 15/09/26 Eur100000
1.5% International Game Technology 4.75% Snr 15/02/23 Eur1000144a
Source: Trustnet

Sector breakdown

Industrials 75.00%
Financials 19.00%
Government Bonds 3.00%
Mortgage & Secured Bonds 2.00%
Others 1.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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