Marlborough Bond Income A

  • 47.63p
    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?

  • 5.00% 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!

  • 1.50%
    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).

  • 1.63%
    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.

  • 3.50%
    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 24 March 2020

Fund summary

Sector £ Corporate Bond
Structure UNIT TRUST
Launched September, 1998
Size £39m
Yield 3.50%
Charging basis 50% Income 50% Capital
Dividends paid Jan, Apr, Jul, Oct

Charges

Standard initial charge 5.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.63%

Allocation

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Investment process

The fund's objective is to provide a high level of income with the potential for capital growth through investment primarily in UK fixed interest securities.

Manager research

Average monthly relative returns

  • 15/16 0.09%
  • 16/17 -0.33%
  • 17/18 0.10%
  • 18/19 -0.12%
  • 19/20 -0.41%

Bestinvest MRI

  • 3 years -0.14%
  • 5 years -0.13%
  • Career -0.12%
  • 3 years 25.50%
  • 5 years 30.20%
  • Career 53.20%

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

Geoffrey Hitchin

Geoff Hitchin was born in Clitheroe in 1942 and attended Brentwood school in Essex. On completing school he became a Trainee Accountant. He focused on tax and worked as a Tax Officer/Consultant for nearly 20 years before setting up Marlborough Fund Managers Ltd and the Marlborough Managed Global Bond Fund in 1987. This was to provide tax efficient savings for his clients.

Track record

Geoffrey Hitchin has 21.4 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.12%. During the worst period of relative performance (from July 1999 - January 2020) there was a decline of 27% relative to the index. The worst absolute loss has been 12%.

Periods of worst performance

Absolute -12.00% (November 2006 - October 2008)
Relative -27.00% (July 1999 - January 2020)

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 28 February 2020

1.4412% Enel-Societa Per Azioni Ser`32`5.75% Nts 22/06/37 Gbp1000
1.3975% Verizon Communications Inc 3.375% Bds 27/10/36 Gbp100000
1.3427% Mcdonald`S Corp 5.875% Eur Med Term Nts 23/4/32 Gbp1000
1.3332% Health Care Reit Inc 4.5% Bds 01/12/34 Gbp100000
1.3156% Sky Ltd 4% Bds 26/11/29 Gbp100000
1.2798% Crh Finance (Uk) Plc 4.125% Bds 02/12/29 Gbp1000
1.2653% At&T Inc 4.375% Nts 14/09/29 Gbp1000
1.1933% American International Group Inc 5% Emtn 26/04/23 Gbp50000
1.19% Edf 5.5% Bds 17/10/41 Gbp100000
1.18% Engie Sa 7% Bds 30/10/28 Gbp50000
Source: Trustnet

Sector breakdown

BBB 62.00%
A 19.00%
AA 5.00%
Money Market 5.00%
BB 4.00%
Non-Rated 4.00%
AAA 1.00%

Key Investor Information

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