Janus Henderson All Stocks Credit A

Invests in sterling demoninated corporate bonds and eurobonds of at least investment grade.

  • 144.10p
    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.

  • 178.60p
    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?

  • 4.00% 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).

  • 1.17%
    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.

  • 1.50%
    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 summary

Sector £ Corporate Bond
Structure OEIC
Launched September, 2000
Size £0m
Yield 1.50%
Charging basis Income
Dividends paid 28 Feb, 31 May, 31 Aug, 30 Nov

Charges

Standard initial charge 4.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.00%
Ongoing charges figure 1.17%

Allocation

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Investment process

The fund's aim is to provide a return by investing primarily in sterling denominated investment grade corporate bonds. The Fund may invest in other transferable securities, money market instruments, derivatives and forward transactions, deposits and units in collective investment schemes.

Manager research

Average monthly relative returns

  • 15/16 0.25%
  • 16/17 -0.21%
  • 17/18 -0.03%
  • 18/19 0.26%
  • 19/20 0.01%

Bestinvest MRI

  • 3 years 0.08%
  • 5 years 0.06%
  • Career 0.03%
  • 3 years 86.70%
  • 5 years 86.40%
  • Career 87.30%

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

Philip Payne

Track record

Philip Payne has 13.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.03%. During the worst period of relative performance (from March 2009 - December 2013) there was a decline of 14% relative to the index. The worst absolute loss has been 9%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 87%.

Periods of worst performance

Absolute -9.00% (August 2016 - November 2016)
Relative -14.00% (March 2009 - December 2013)

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

1.4% Hm Treasury United Kingdom Dmo 1.5% Gilt 22/07/47 Gbp1
1.1% Wells Fargo Bank Na 5.25% 2023
1.1% Hm Treasury United Kingdom Dmo 1.75% Gilt 07/09/37 Gbp0.01
1% Citigroup Inc 1.75% Bds 23/10/26 Gbp100000
1% Natwest Group 2.875% 2026
1% Logicor 2019-1 Uk 1.875% 2026
.9% Hsbc Bank Capital Funding Sterling 1 5.844% 2168
.9% Credit Suisse Group Ag 2.25% Bds 09/06/28 Gbp1000
.9% Walmart Inc 5.625% Bds 27/03/34 Gbp1000
.9% Cadent Finance Plc 2.125% Inst 22/09/28 Gbp100000
Source: Trustnet

Sector breakdown

Financials 32.00%
Utilities 19.00%
Consumer Services 7.00%
Industrials 6.00%
Mortgage & Secured Bonds 6.00%
Government Bonds 6.00%
Money Market 6.00%
Others 5.00%
Telecommunications 5.00%
Consumer Goods 4.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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