BNY Mellon Corporate Bond

Around 25% in high yield, conservative yield target.

  • 100.35p
    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!

  • 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).

  • 1.19%
    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.

  • 1.20%

    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 21 October 2020, fund data last updated 01 April 2002

Fund summary

Sector £ Corporate Bond
Structure OEIC
Launched September, 2014
Size £27m
Yield 1.20%
Charging basis Income
Dividends paid 28 Feb, 31 May, 31 Aug, 30 Nov


Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.00%
Ongoing charges figure 1.19%


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Investment process

The fund’s primary focus is income generation by investing in a broad range of fixed interest securities including Gilts, corporate debt (both quality and sub-investment grade issues) and preference shares. The target yield is a conservative "10-year Gilts plus 2%".

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 -0.41%
  • 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.

Howard Cunningham

Cunningham is the senior credit analyst at Newton with particular responsibility for investment grade bonds. He joined Newton in 2000 from Natwest where he was head of credit rating, and has over 15 years experience in corporate credit analysis.

Track record

The track record of Howard Cunningham in managing mutual funds in this sector is still too short for us to draw any meaningful conclusions and so our assessment is based largely on qualitative aspects.

Periods of worst performance

Absolute -1.00% (April 2004 - May 2004)
Relative -3.00% (April 2004 - April 2004)

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.


Proportion (%)

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Top 10 holdings

Data accurate as at 31 July 2020

3.12% Hsbc Hldgs
2.84% Electricite De Strasbourg
2.33% Glaxosmithkline
2.21% Slm Student Loan Trust
2.19% Rothesay Life
2.1% Phoenix Group Hldgs
2.09% London & Quadrant Housing Trust
2.04% Thames Water
1.95% Telereal (Wbs)
1.95% Barclays Plc
Source: Trustnet

Sector breakdown

Financials 30.00%
Mortgage & Secured Bonds 22.00%
Money Market 14.00%
Utilities 13.00%
Telecommunications 9.00%
Property 7.00%
Transport 3.00%
Non-Cyclical Consumer Goods 2.00%


The portfolio holds around 150 stocks, a large number to achieve risk reduction through diversification. High yield expsoure may acocunt for upto 100% of the portfolio.

Key Investor Information