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Marlborough High Yield Fixed Interest P

  • 74.42p
    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?

  • 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!

  • 0.75%
    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).

  • 0.85%
    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.

  • 4.30%
    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 22 January 2021

The objective of the fund is to provide a high level of income with the opportunity for some long-term capital growth. The fund will invest in a portfolio largely comprising fixed, variable rate and index related securities issued by corporates, government, supranational institutions and local and regional agencies, both in the UK and internationally, as well as other securities deemed to be appropriate by the Manager.

Fund summary

Sector £ High Yield
Structure UNIT TRUST
Launched January, 2013
Size £56m
Yield 4.30%
Charging basis 50% Income 50% Capital
Dividends paid 28 Feb, 31 May, 31 Aug, 30 Nov

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.85%

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Investment process

Manager research

Average monthly relative returns

  • 16/17 -1.13%
  • 17/18 -0.24%
  • 18/19 -0.22%
  • 19/20 0.28%
  • 20/21 -0.28%

Bestinvest MRI

  • 3 years -0.08%
  • 5 years -0.32%
  • Career -0.26%
  • 3 years 49.20%
  • 5 years 17.40%
  • Career 21.50%

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

Steven Logan / Ben Pakenham / Mark Sanders

Track record

Steven Logan / Ben Pakenham / Mark Sanders has 5.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.26%. During the worst period of relative performance (from November 2015 - July 2019) there was a decline of 22% relative to the index. The worst absolute loss has been 15%.

Periods of worst performance

Absolute -15.00% (January 2020 - March 2020)
Relative -22.00% (November 2015 - July 2019)

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.

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Top 10 holdings

Data accurate as at 31 July 2020

2.7047% Ziggo Bond Co Bv 3.375% Bds 28/02/30 Eur100000reg S
2.0534% Nassa Topco As 2.875% Snr Nts 06/04/24 Eur100000 Reg S
1.8947% Cybg Plc 8% Sub Cnv Undated Bds Gbp200000
1.8632% Petroleos Mexicanos 5.125% Bds 15/03/23 Eur100000
1.8591% Matterhorn Telecom Sa 3.125% Bds 15/09/26 Eur100000
1.7964% Rac Bond Co 5% Sec Nts 06/05/46 Gbp B1
1.7675% Lincoln Finance Ltd 3.625% Bds 01/04/24 Eur1000
1.6629% Arqiva Broadcast Finance Pl 6.75% Bds 30/09/23 Gbp1000
1.5593% Telecom Italia Finance 7.75% Bds 24/1/33 Eur1000
1.5436% Softbank Group Corp 5% Bds 15/04/28 Eur1000
Source: Trustnet

Sector breakdown

Non-Rated 48.00%
BB 28.00%
B 14.00%
CCC 4.00%
BBB 4.00%
Others 2.00%

Key Investor Information

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