Schroder Gilt & Fixed Interest A

  • 70.29p
    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.

  • 254.10p
    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?

  • 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!

  • 0.50%
    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).

  • 0.57%
    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.

  • 2.20%
    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 18 September 2020

Fund summary

Sector UK Gilt
Structure UNIT TRUST
Launched October, 1989
Size £141m
Yield 2.20%
Charging basis Capital
Dividends paid 30 Apr, 31 Oct

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.50%
Ongoing charges figure 0.57%

Allocation

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Investment process

The fund aims to achieve a level of income which reflects the underlying gilt market, with the potential for capital gains. The majority of the portfolio is invested in gilt, but the fund also invests in sterling bonds issued by other organisations with high credit ratings.

Manager research

Average monthly relative returns

  • 15/16 -0.13%
  • 16/17 -0.17%
  • 17/18 0.00%
  • 18/19 -0.03%
  • 19/20 -0.11%

Bestinvest MRI

  • 3 years -0.05%
  • 5 years -0.09%
  • Career -0.09%
  • 3 years 40.50%
  • 5 years 16.40%
  • Career 13.40%

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

Thomas Sartain

Sartain CFA, is a UK & European Rates Portfolio Manager in the Multi-sector team based in London. Sartain joined Schroders in 2005 as fund manager’s assistant on the Global Fixed Income desk. Sartain’s Financial Markets career commenced in 2003 upon joining Royal Bank of Scotland. BA (Hons) degree in Management and Business Administration, University of Reading.

Track record

Thomas Sartain has 7.6 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.09%. During the worst period of relative performance (from February 2013 - July 2019) there was a decline of 8% relative to the index. The worst absolute loss has been 8%.

Periods of worst performance

Absolute -8.00% (August 2016 - January 2017)
Relative -8.00% (February 2013 - 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.

Allocation

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Top 10 holdings

Data accurate as at 31 July 2020

6.24% Hm Treasury United Kingdom Dmo 0.375% Treasury Gilt 22/10/30 Gbp
5.03% Hm Treasury United Kingdom Dmo 6% Gilt 2028
4.98% Hm Treasury United Kingdom Dmo 3.75% Gilt 07/09/21 Gbp
4.87% Hm Treasury United Kingdom Dmo 4.25% Gilt 07/03/36 Gbp0.01
4.33% Hm Treasury United Kingdom Dmo 0.125% Treasury Gilt 31/01/28 Gbp0.01
3.72% Hm Treasury United Kingdom Dmo 3.25% Gilt 22/01/44 Gbp0.01
3.68% Hm Treasury United Kingdom Dmo 4% Gilt 07/03/22 Gbp0.01
3.32% Hm Treasury United Kingdom Dmo 1% Treasury Gilt 22/04/24 Gbp0.01
2.97% Hm Treasury United Kingdom Dmo 3.5% Gilt 22/07/68 Gbp0.01
2.91% Hm Treasury United Kingdom Dmo 4.25% Gilt 07/12/55 Gbp0.01
Source: Trustnet

Sector breakdown

Government Bonds 86.00%
Money Market 7.00%
Government Agency Bonds 2.00%
Fixed Interest 2.00%
Financials 2.00%
Local Government Bonds 1.00%

Portfolio

80% Gilts, other AAA issues. Min rating is A.

Key Investor Information - Income

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Key Investor Information - Accumulation

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