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  2. Threadneedle Sterling Bond Z

fund

Threadneedle Sterling Bond Z

Primarily invested in Gilts and supranationals.

  • 123.11p
    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!

  • 0.40%
    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).

  • 0.53%
    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.

  • 0.70%
    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 19 January 2021

Fund summary

Sector UK Gilt
Structure OEIC
Launched October, 2012
Size £552m
Yield 0.70%
Charging basis Capital
Dividends paid 7 May, 7 Nov

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.40%
Ongoing charges figure 0.53%

Allocation

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Investment process

The aim of the Fund is to achieve total return primarily by way of income with some capital growth. The Fund will invest primarily in UK Government securities, Agencies, Sovereigns and Supranational Borrowers, denominated in sterling.

Manager research

Average monthly relative returns

  • 16/17 -0.04%
  • 17/18 -0.05%
  • 18/19 -0.04%
  • 19/20 -0.07%
  • 20/21 -0.04%

Bestinvest MRI

  • 3 years -0.05%
  • 5 years -0.05%
  • Career -0.04%
  • 3 years 45.20%
  • 5 years 46.40%
  • Career 58.30%

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

Dave Chappell

Chappell joined Threadneedle Investments in 1997 when Scudder Investments became part of Threadneedle. He joined Scudder Investments as a fixed income dealer, and in 1997 became an Insurance Asset Fund Manager. He started his career in 1987 at Royal Bank of Scotland as an Operations Supervisor before moving to Irving Trust co as an Operations Manager. He graduated in 2006 from the University of Bath with a BSc (Hons) in Economics.

Track record

Dave Chappell has 6.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.04%. During the worst period of relative performance (from February 2016 - August 2020) there was a decline of 5% relative to the index. The worst absolute loss has been 8%.

Periods of worst performance

Absolute -8.00% (August 2016 - January 2017)
Relative -5.00% (February 2016 - August 2020)

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 May 2020

12.6% Hm Treasury United Kingdom Dmo 1.75% Treasury Gilt 22/01/49 Gbp0.01
9.8% Hm Treasury United Kingdom Dmo 0.625% Trsy Gilt 07/06/25 Gbp0.01
8.9% Hm Treasury United Kingdom Dmo 1.75% Gilt 07/09/37 Gbp0.01
7.5% Hm Treasury United Kingdom Dmo 3.75% Gilt 7/9/20 Gbp0.01
7.4% Hm Treasury United Kingdom Dmo 4.5% Gilt 7/9/2034 Gbp0.01
6.7% Hm Treasury United Kingdom Dmo 1.5% Gilt 22/01/21 Gbp0.01
6.3% Hm Treasury United Kingdom Dmo 3.25% Gilt 22/01/44 Gbp0.01
6.1% Hm Treasury United Kingdom Dmo 1.25% Gilt 22/10/41 Gbp0.01 (Wi)
4% Hm Treasury United Kingdom Dmo 1.5% Gilt 22/07/47 Gbp1
3.6% Hm Treasury United Kingdom Dmo 0.375% Treasury Gilt 22/10/30 Gbp
Source: Trustnet

Sector breakdown

Long dated bonds 45.00%
Long dated bonds 18.00%
Very short dated bonds 17.00%
Short dated bonds 9.00%
Medium dated bonds 9.00%
Cash & Cash Equivalents 2.00%
Money market 1.00%

Portfolio

Average rating AA. 80% Gilts, 10% AA, 6% A, 4% B.

Key Investor Information

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