BNY Mellon Global High Yield Bond

Minimum two-thirds in high yield bonds to produce a high income.

  • 58.17p
    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).

  • 1.15%
    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.

  • 5.00%
    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…

Prices as at 25 September 2020, fund data last updated 01 March 2002

A focused portfolio of predominantly high-yield, and higher risk, Pan-European bonds.

Fund summary

Sector £ High Yield
Structure OEIC
Launched September, 2000
Size £127m
Yield 5.00%
Charging basis Capital
Dividends paid Last day of each month

Charges

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 1.15%

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Investment process

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 -0.92%
  • 18/19 -0.75%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career -0.66%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 15.90%

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

Parmeshwar Chadha

Chadha joined the Newton Fixed Income team in the autumn of 2006 and is a fund manager as well as a credit analyst concentrating on high yield rated bonds. Before this she worked at Citigroup and worked in the Global Portfolio Management group concentrating on highly leveraged transactions within the EMEA region. The analysis is based on a combination of the top-down industry analysis as well as bottoms up financial modelling to assess the risk of each issuer. He also uses the fixed income group's existing range of econometric models to model credit markets. Chadha has a BSc in Economics & Politics from London School of Economics.

Track record

Parmeshwar Chadha has 3.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.66%. During the worst period of relative performance (from November 2007 - November 2009) there was a decline of 29% relative to the index. The worst absolute loss has been 34%.

Periods of worst performance

Absolute -34.00% (November 2007 - March 2009)
Relative -29.00% (November 2007 - November 2009)

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

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Top 10 holdings

Data accurate as at 31 July 2020

5.35% Us Treasury
4.15% Sprint Corp
2.7% T-Mobile Us Inc
2.24% Cco Holdings Llc/ Cco Holdings Capital Corp.
2.24% Altice France S.a
2.03% Petrobras Global Finance Bv
1.96% Infineon Technologies Ag
1.8% Virgin Media Finance Plc
1.79% Summer (Bc) Holdco B S.a R.l.
1.75% Csc Holdings
Source: Trustnet

Sector breakdown

Others 23.00%
Telecommunications 19.00%
Financials 15.00%
Media 12.00%
Industrials 11.00%
Consumer Goods 9.00%
Technology 7.00%
Money Market 2.00%
Asset/Mortgage-Backed Securities 1.00%
Utilities 1.00%

Constraints

More than 90% is invested in Sterling and European currency issues. The Gilt portion will be a max of 10% and typically above 5%.

Key Investor Information

Download