Schroder UK Corporate Bond A

Invests in fixed income securities including preference shares and convertibles.

  • 65.80p
    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.

  • 82.87p
    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!

  • 1.00%
    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).

  • 1.14%
    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.

  • 4.00%
    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 11 December 2019

Fund summary

Sector £ Corporate Bond
Structure OEIC
Launched November, 1995
Size £350m
Yield 4.00%
Charging basis 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 1.00%
Ongoing charges figure 1.14%

Allocation

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Investment process

The Fund aims to achieve a high income return together with capital growth by investing in fixed income securities including corporate bonds, preferences shares and convertibles. The fund will invest primarily in UK based securities but may extend to any economic sector or geographic area.

Manager research

Average monthly relative returns

  • 14/15 0.00%
  • 15/16 0.01%
  • 16/17 0.08%
  • 17/18 0.00%
  • 18/19 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career -0.07%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 61.30%

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

Alix Stewart

Stewart joined Schroders in 2012 following four years as a fund manager at UBS. Prior to working at UBS Stewart has spells at Gartmore, Scottish Mutual, Standard Life and SWIP. Stewart also holds a BSc (Hons) in Economic and Mathematics from the University of Leeds.

Track record

Alix Stewart has 3.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.07%. During the worst period of relative performance (from February 2005 - July 2007) there was a decline of 5% relative to the index. The worst absolute loss has been 4%.

Periods of worst performance

Absolute -4.00% (September 2005 - June 2006)
Relative -5.00% (February 2005 - July 2007)

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 30 August 2019

3.8295% Hm Treasury United Kingdom Dmo 1.5% Gilt 22/07/47 Gbp1
2.1738% Ngg Finance 5.625% Reset Cap Sec 18/06/73 Gbp100000
1.9611% Cybg 3.375% 24/04/2026
1.9445% London & Quadrant Housing Trust 2.625% Bds 28/02/28 Gbp100000
1.8014% Grainger Plc 3.375% Bds 24/04/28 Gbp100000
1.5313% Casino Guichard Perrachon 5.976% 26/05/2021
1.5237% Sainsburys Bank Plc 6% Sub Nts 23/11/27 Gbp100000
1.5113% Intu Jersey 2 2.875% 01/11/2022
1.4688% Western Power Distribution East Mid 3.5% Nts 16/10/26 Gbp100000
1.3411% Assura Plc 3% Bds 19/07/28 Gbp1000
Source: Trustnet

Sector breakdown

Industrials 48.00%
Financials 30.00%
Utilities 8.00%
Government Bonds 6.00%
Mortgage & Secured Bonds 4.00%
Money Market 3.00%
Government Agency Bonds 1.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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