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MI TwentyFour Dynamic Bond I NET

Bestinvest LogoA more focused, best ideas mandate investing across the credit quality spectrum with a focus on Pan European credits and MBS.

PRICE (INC)

9786.12p

PRICE (ACC)

16928.03p

INITIAL CHARGE

0%

ANNUAL MANAGEMENT CHARGE

0.75%

ONGOING CHARGE

0.77%

YIELD

4.2%

1 YEAR
-11.01%

Prices as at 11 Aug 2022.

Fund commentary last updated 14 Jan 2022.

Past performance is not an indication of future performance.

Capital at risk.

The fund aims to deliver an attractive level of income and take advantage of potential capital growth opportunities by investing in a broad range of bonds and fixed income assets. The fund is managed by fixed income boutique TwentyFour. The management team, including Gary Kirk, Eoin Walsh, Mark Holman, Felipe Villarroel, Pierre Beniguel and David Norris, primarily target investment grade bonds, high yield bonds, government bonds and asset-backed securities. Their current holdings includes US Treasury bonds and the Nationwide Building Society. The fund can use derivatives to manage interest rate and credit risk, allowing it to perform in both rising and falling rate environments.

Fund summary

Sector£ Strategic Bond
StructureOEIC
LaunchedApril 2010
Size£1,557m
Yield4.2%
Charging Basis50% Income 50% Capital
Dividends paid28 Feb, 31 May, 31 Aug, 30 Nov

Charges

Standard Initial Charge0%
Initial Charge Via BestInvest0%
Additional Bid/Offer Spread0%
Annual Management Charge0.75%
Ongoing Charges Figure0.77%

Investment Process

This is an unconstrained and unleveraged long-only bond fund, that aims to add value through both top-down macro views and bottom-up ‘high conviction’ selection. Broad asset allocation is guided by monthly investment committee meetings with subsequent adjustments made to reflect market conditions and the availability of security-specific opportunities. Portfolio duration will always be positive, with interest rate duration currently being around 2.3 years and credit spread duration being around 3.5 years. All non-sterling currency exposure is generally hedged back to sterling. Apart from a maximum allocation to high yield bonds, there is no other credit quality constraint with assets ranging from investment grade and government bonds to emerging market sovereign bonds or bank capital perpetual bonds.

The information on this website is not intended to be advice or a recommendation to buy, sell or hold any investment mentioned. The value of investments and the income from them can go down as well as up and you may not get back the amount invested.

Past performance is not a guide to future performance. View full risk warning