Invests in prime-residential mortgage-backed securities with the aim of outperforming cash.
Prices as at 10 Aug 2022.
Fund commentary last updated 24 Mar 2022.
Past performance is not an indication of future performance.
Capital at risk.
Sector | |
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Structure | OFFSHORE FUND |
Launched | March 2011 |
Size | £6,065m |
Yield | 0% |
Charging Basis | Income |
Dividends paid | Acc units only |
Standard Initial Charge | 0% |
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Initial Charge Via BestInvest | 0% |
Additional Bid/Offer Spread | 0% |
Annual Management Charge | 0.25% |
Ongoing Charges Figure | 0.3% |
The managers aim to outperform cash by 2% per annum gross of fees over three-year rolling periods. They aim to achieve this through taking an absolute return approach to fixed income investing. The investment team assess every loan on a quantitative and qualitative basis. They meet each of their collateralized loan obligations (CLO) managers at least once a year, and rate them on a yellow, amber, or red framework based not just on the quality of the loans but also governance. Although the fund’s main exposure is to prime residential mortgage-backed securities (MBS) the managers will also invest a limited amount into commercial mortgages, credit card loans, auto loans, student loans and personal loans depending on the point in the economic cycle and the valuation of various asset classes. Its main geographical exposure is to the UK, followed by Pan-Europe, the US and Australia.
Past performance is not a guide to future performance. View full risk warning