BMO Responsible Sterling Corporate Bond C

Ethically screen investment grade and high yield bond fund.

  • 59.30p
    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?

  • 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!

  • 0.50%
    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).

  • 0.57%
    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.

  • 1.60%
    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

The Fund aims to achieve an income return, with some capital growth, via a portfolio of ethically screened corporate bonds.

Fund summary

Sector £ Corporate Bond
Structure OEIC
Launched September, 2012
Size £211m
Yield 1.60%
Charging basis Capital
Dividends paid 30 Apr, 31 Oct

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.50%
Ongoing charges figure 0.57%

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Investment process

The Fund aims to maximise returns through investment primarily in fixed interest securities of an ethically screened and diversified list of companies. The Fund may also invest in warrants, collective investment schemes, money market instruments and derivatives. The Fund will invest in investment grade and high yield securities. Government securities are excluded. Non-sterling denominated issues are permitted and any currency exposure will normally be hedged back to sterling. To manage risk the Fund will aim to achieve a wide degree of diversification across the available issuers and the manager will adopt a credit management process. Derivatives may be used to increase, reduce and maintain the investment exposure of the Fund including use of single name CDS and interest rate swaps in addition to EPM.

Manager research

Average monthly relative returns

  • 16/17 -0.20%
  • 17/18 -0.09%
  • 18/19 0.02%
  • 19/20 -0.26%
  • 20/21 -0.12%

Bestinvest MRI

  • 3 years -0.12%
  • 5 years -0.13%
  • Career -0.13%
  • 3 years 23.60%
  • 5 years 11.70%
  • Career 11.10%

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

Rebecca Seabrook

Seabrook is director, UK credit, and came over to F&C from the ISIS side. She currently manages over £7 billion of credit funds for insurance and institutional clients. She began her career at London and Manchester in 1996, as a Credit Analyst. Thereafter, she was a fund manager at Friends Ivory & Sime, Rothschild Asset Management, ISIS and F&C. She’s an Accounting & Finance graduate of the University of Wales in 1995, has obtained her IIMR and is a member of UKSIP.

Track record

Rebecca Seabrook has 15.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.13%. During the worst period of relative performance (from March 2009 - December 2020) there was a decline of 24% relative to the index. The worst absolute loss has been 16%.

Periods of worst performance

Absolute -16.00% (January 2006 - March 2009)
Relative -24.00% (March 2009 - December 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

2.3% European Investment Bank 5% Bds 15/4/2039 Gbp1000
1.7% Kreditanstalt Fur Wiederaufbau Kfw 5.75% Bds 7/6/2032 Gbp1000
1% Amgen 5.5% 07/12/ 2026
1% East Japan Railway Co 4.75% Mtn 08/12/31 Gbp50000
1% Eurofima 0.15% Bds 10/10/34 Eur1000
.9% Network Rail Infrastructure Finance 4.75% Nts 22/01/24 Gbp1000
.8% Barclays 0.625% Bds 14/11/23 Eur100000
.8% Network Rail Infrastructure Finance 4.75% Nts 29/11/35 Gbp50000
.7% Orbit Capital Plc
.7% Tesco Property Finance 5 Plc 5.6611% Nts 13/10/41 Gbp100000
Source: Trustnet

Sector breakdown

Banks 18.00%
Utilities 16.00%
Others 12.00%
Mortgage & Secured Bonds 10.00%
Fixed Interest 9.00%
Consumer Goods 7.00%
Insurance 7.00%
Money Market 6.00%
Industrials 5.00%
Non-Cyclical Goods 5.00%

Key Investor Information

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