Premier Corporate Bond Monthly Income A

Investment grade bond fund also investing in convertibles and preference shares.

  • 78.96p Price (Inc)
  • - Price (Acc)
  • 4.00% 0.00% Initial charge
  • 1.00% Annual management charge
  • 1.37% Ongoing charges
  • 2.80% Yield

Prices as at 06 December 2019, fund data last updated 28 November 2003

Fund summary

Sector £ Corporate Bond
Structure OEIC
Launched November, 1995
Size £47m
Yield 2.80%
Charging basis Capital
Dividends paid Last day of each month

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 1.37%

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Investment process

The fund's aim is to provide a high income payable in monthly instalments. The Fund's investment policy is to use a relatively low risk strategy by investing predominantly in corporate bonds, debentures, convertibles, preference shares and fixed and variable rate securities.

Manager research

Average monthly relative returns

  • 14/15 0.26%
  • 15/16 -0.17%
  • 16/17 -0.14%
  • 17/18 -0.23%
  • 18/19 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career -0.23%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 35.90%

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

Paul Smith

Smith manages Fixed Income securities at Premier. His current responsibilities include the management of the Zero Preference Growth Trust and the Premier High Income Bond, as well as reverse convertible and traditional fixed income sub-funds of investment trusts, such as the Bond portfolio of Premier Asian Assets Trust and the Income portfolio of Acorn Income Fund. Paul also manages various private client portfolios. Prior to joining Premier, he was responsible for Fixed Income securities at BFS Investments plc which he joined after obtaining a 1st class BA (Hons) degree in Economics and an MA in Finance and Investment (with distinction) from Exeter University

Track record

Paul Smith has 11.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.23%. During the worst period of relative performance (from May 2007 - March 2009) there was a decline of 38% relative to the index. The worst absolute loss has been 26%.

Periods of worst performance

Absolute -26.00% (October 2007 - March 2009)
Relative -38.00% (May 2007 - March 2009)

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 30 August 2019

2.735% Ubs Ag Jersey Fxd/Fltg Rate Nts 19/11/24 Gbp1000
2.5369% Aspire Defence Finance 4.674% Ser`B`Gtd Sec Bd 31/3/40 Gbp50000
2.4747% Santander Uk Group Hldgs Plc 3.625% Snr Nts 14/01/26 Gbp100000
2.1692% South Eastern Power Networks Plc Idx Lkd Fxd Rte Nts 5/6/23 Gbp(Var)
2.1644% Pershing Square Hldgs Ltd 5.5% Bds 15/07/22 Usd250000
1.9748% Credit Suisse Grp Funding Guernsey 2.75% Mtn 08/08/25 Gbp100000
1.8219% Phoenix Group Hldgs Plc 6.625% Gtd Sub Nts 18/12/25 Gbp100000
1.7198% National Grid 1.25% Rpi Lkd Bds 06/10/21 Gbp100 56
1.6936% Hsbc Hldgs Plc 2.175% Nts 27/06/23 Gbp100000
1.6829% Burford Capital Plc 6.5% Gtd Bds 19/08/22 Gbp100
Source: Trustnet

Sector breakdown

Investment Grade Bonds 89.00%
Non-Rated 6.00%
Non-Rated Non Investment Grade Bonds 5.00%

Key Investor Information

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