Janus Henderson Sterling Bond

  • 70.24p
    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.

  • 248.10p
    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?

  • 4.25% 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!

  • 1.10%
    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).

  • 1.27%
    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.

  • 1.30%
    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 09 July 2020, fund data last updated 24 November 2011

The fund's aim is to achieve a high and stable income from investing principally in sterling denominated fixed interest securities including preference shares, concentrating on investment grade (high quality) corporate bonds. The managers consider this a core bond fund and therefore an additional objective is for low levels of volatility, which means not taking big positions relative to the benchmark index in terms of sectors, whilst also being careful not to over expose the fund to individual bond default risk.

Fund summary

Sector £ Corporate Bond
Structure UNIT TRUST
Launched
Size £0m
Yield 1.30%
Charging basis Income
Dividends paid 15 Mar, 15 Jun, 15 Sep, 15 Dec

Charges

Standard initial charge 4.25%
Initial charge via Bestinvest 0.00%
Annual management charge 1.10%
Ongoing charges figure 1.27%

Allocation

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Investment process

The majority of the fund is invested principally in investment grade corporate bonds, although up to 10% of the fund may be held in gilts (UK government bonds) for defensive or liquidity reasons. To enhance yield the fund may also invest in preference shares. The managers' focus is principally at the underlying credit level (i.e. a company's ability to pay its debt interest) so the focus is on higher rated companies with strong balance sheets and earnings stability. The managers are supported by an in house credit team of around 15 analysts in addition to specialist teams focusing on Asset Backed Securities and Loans. Analysts are organised on a sectorial basis covering High Yield and Investment Grade names.

This fund is now considered as Henderson’s core retail corporate bond option having joined their bond fund range following Henderson's purchase of New Star in April 2009. This fund is not currently rated by Bestinvest and we suggest investors seeking core corporate bond exposure should use one of our rated alternatives.

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

Absolute 0.00% ()
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

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Sector breakdown

Financials 38.00%
Utilities 17.00%
Government Bonds 8.00%
Consumer Services 6.00%
Mortgage & Secured Bonds 6.00%
Industrials 6.00%
Telecommunications 5.00%
Consumer Goods 5.00%
Others 3.00%
Money Market 3.00%

Portfolio

There will generally be around 100 holdings within the portfolio, diversified across at least 10 sectors. The average credit rating for the fund is at least A.

Key Investor Information - Income

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Key Investor Information - Accumulation

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