Investec Strategic Bond A

  • 0.00p
    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.

  • 0.00p
    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?

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    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).

  • 1.11%
    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.

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    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…

Fund data last updated 30 November 2009

The core element of the fund is investment grade and sovereign bonds. However, the fund can invest up to 20% in high yielding bonds as well as investments in currencies and Emerging Market debt. The aim is to achieve an above average income and capital growth. The process focuses firstly on broader macro themes (global perspective) to define the initial universe and then due diligence is carried out on individual bonds.

Fund summary

Sector £ Strategic Bond
Structure X-OEIC
Launched
Size £80m
Yield 0.00%
Charging basis Income
Dividends paid 28 Feb, 31 May, 31 Aug, 30 Nov

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 1.00%
Ongoing charges figure 1.11%

Allocation

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Investment process

This is a total return sterling denominated investment grade (quality bonds) corporate bond fund that offers investors the prospect of a reasonable level of income and the opportunity for capital gains. Broadly speaking this is a conservatively run fund, although it does have some unusual attributes in that the fund's remit allows it to invest up to 20% in high yielding bonds as well as currencies and Emerging Market debt. The investment process of this fund focuses firstly on broader macro themes (Investec's economic view of the world and affect on financial markets) to define the initial universe. The macro evaluation is used to help frame investments in currencies and the fund can access a range of 60. Emerging Market debt is done on a far more stock specific basis. Investec has a specialialist team that focuses on this. The mandate also allows the managers to use derivatives where they find arbitrage opportunities in the fixed income market.

Essentially this is quality portfolio of investment grade bonds, and whilst the fund has achieved credible returns relative to the peer group, in what is very a competitive sector we have higher conviction towards alternative funds.

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 0.00%
  • 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.

Track record

Periods of worst performance

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Relative 0.00% ()

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 (%)

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Sector breakdown

Government Bonds 41.00%
Investment Grade Corporate Bonds 20.00%
Debt 18.00%
High Yield Bond 17.00%
Money Market 3.00%
Mutual Funds 1.00%

Portfolio

The portfolio holds around 80-120 issues. Maximum stock specific weighting to AAA: 10%, AA: 5%, BBB: 2.5%. High Yield maximum 20%. Max cash 10%. Whilst all non sterling exposure is hedged, active currency positions may be taken independent of sterling.

Key Investor Information - Income

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Key Investor Information - Accumulation

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