Schroder High Yield Opportunities Class Z Inc
Report And Accounts
Simplified Prospectus / KIID
Private Investor Factsheet
Professional Investor Factsheet
Performance
Discrete performance - to last month end
| 30/04/19 to 30/04/20 |
30/04/20 to 30/04/21 |
30/04/21 to 30/04/22 |
30/04/22 to 30/04/23 |
30/04/23 to 30/04/24 |
|
|---|---|---|---|---|---|
| Fund | -12.3% | 30.7% | -2.5% | -4.3% | 14.9% |
| Sector | -6.7% | 18.6% | -4.4% | -1.3% | 9.7% |
| Rank | 23/24 | 2/27 | 9/29 | 25/29 | 1/29 |
| Quartile | 4 | 1 | 2 | 4 | 1 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/04/24 |
5 Years to 30/04/24 |
10 Years to 30/04/24 |
||
| Fund | 2.3% | 4.2% | 5.0% | |
| Sector | 1.1% | 2.7% | 3.0% | |
| Rank | 9/29 | 3/24 | 1/20 | |
| Quartile | 2 | 1 | 1 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| Energy Transfer LP | 2.22 |
| TIBCO Software Inc | 2.17 |
| Marcolin SpA | 2.13 |
| TalkTalk Telecom Group Ltd | 2.06 |
| Global Aircraft Leasing Co Ltd | 2.02 |
| 4½% Treasury Gilt 2028 | 1.97 |
| Highlands Holdings Bond Issuer Ltd / Highlands Holdings Bond Co-Issuer Inc | 1.71 |
| MPT Operating Partnership LP / MPT Finance Corp | 1.68 |
| United Kingdom Treasury Bill | 1.60 |
| Emeria SASU | 1.58 |
| Total | 19.15 |
Fund Aims
The fund’s investment objective is to achieve a high level of income from a diversified portfolio of debt securities. The full spectrum of available securities, including unrated issues and those of non-investment grade, will be utilised. Investment will be in directly held transferable securities. The fund may also invest in collective investment schemes, warrants and money market instruments.
Fund Manager
Daniel Pearson is an analyst at Schroders, based in London. He joined Schroders in 2013.
Daniel was an investment executive at 3i Investments plc from 1997 to 2007.
He was previously a finance graduate at Hambros plc from 1991 to 1996.
ACCA Accountancy.
Fund Overview
| Mid (02/05/2024) | 46.06p |
| Distribution yield | 8.78% |
| Underlying yield | - |
| Fund size (31/03/2024) | £498.72m |
| Number of holdings | 201 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.72% |
| Launch date | 03/03/2000 |
Asset Allocation
| International Bonds | 70.23% | |
| UK Corporate Bonds | 20.44% | |
| Cash and Equivalents | 2.99% | |
| UK Gilts | 2.69% | |
| International Equities | 0.00% | |
| Alternative Trading Strategies | -0.45% | |
| Other Assets | 4.10% |
Commentary
Not Applicable
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. Please remember that past performance is not a reliable indicator of future performance. The figures shown are intended only to demonstrate performance history of the fund and take no account of product charges. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with net income reinvested. The value of your client's investment may go down as well as up and the fund value may be less than the payments your client has made. Please also note that our charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Asset Allocation
| International Bonds | 70.23% | |
| UK Corporate Bonds | 20.44% | |
| Cash and Equivalents | 2.99% | |
| UK Gilts | 2.69% | |
| International Equities | 0.00% | |
| Alternative Trading Strategies | -0.45% | |
| Other Assets | 4.10% |
Bond Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Bonds | 93.36% | - | - | - | |
| Non-Classified | 4.10% | - | - | - | |
| Cash and Equivalents | 2.99% | - | - | - | |
| Alternative Trading Strategies | -0.45% | - | - | - | |
| Alternative Trading Strategies | - | -0.45% | - | - | |
| Alternative Trading Strategies | - | - | -0.45% | - | |
| Alternative Trading Strategies | - | - | - | -0.45% | |
Regional Allocation
| Developed Europe - Excl UK | 37.44% | |
| UK | 23.13% | |
| North America | 19.19% | |
| Non-Classified | 10.12% | |
| South & Central America | 3.61% | |
| Cash and Equivalents | 2.99% | |
| Middle East & Africa | 2.11% | |
| Emerging Europe | 1.41% |
Fixed Interest Currencies
| US Dollar | 34.27% | |
| Euro | 33.07% | |
| Pound Sterling | 25.85% | |
| Non-Fixed Interest Assets | 3.65% | |
| Cash | 2.99% | |
| Singapore Dollar | 0.16% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Developed Europe - Excl UK | 37.44% | - | |
Luxembourg
|
- | 8.28% | |
Germany
|
- | 6.67% | |
France
|
- | 6.41% | |
Italy
|
- | 6.22% | |
Netherlands
|
- | 2.51% | |
Spain
|
- | 2.36% | |
Austria
|
- | 1.28% | |
Sweden
|
- | 0.96% | |
Ireland
|
- | 0.74% | |
Switzerland
|
- | 0.74% | |
Belgium
|
- | 0.58% | |
Portugal
|
- | 0.39% | |
Finland
|
- | 0.31% | |
| UK | 23.13% | - | |
United Kingdom
|
- | 23.13% | |
| North America | 19.19% | - | |
United States
|
- | 18.05% | |
Canada
|
- | 1.13% | |
| Non-Classified | 10.12% | - | |
| South & Central America | 3.61% | - | |
Mexico
|
- | 2.38% | |
Brazil
|
- | 1.09% | |
Chile
|
- | 0.15% | |
| Cash and Equivalents | 2.99% | - | |
| Middle East & Africa | 2.11% | - | |
Israel
|
- | 2.11% | |
| Emerging Europe | 1.41% | - | |
Turkey
|
- | 0.53% | |
Greece
|
- | 0.40% | |
Poland
|
- | 0.32% | |
Hungary
|
- | 0.16% | |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
68.26% |
| 5Yr - 10Yr Maturity |
|
14.50% |
| 10Yr - 15Yr Maturity |
|
1.72% |
| > 15Yr Maturity |
|
8.89% |
| Cash And Equivalents |
|
2.99% |
| Unknown Maturity |
|
4.10% |
| Other Asset Types |
|
-0.45% |
Fixed Interest Quality Profile
| AAA |
|
1.38% |
| AA |
|
2.69% |
| A |
|
1.27% |
| BBB |
|
4.85% |
| Sub-Investment Grade |
|
33.41% |
| Unknown Quality |
|
49.76% |
| Cash and Equivalents |
|
2.99% |
| Other Asset Types |
|
3.65% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | Energy Transfer LP | 2.22% | Bonds | United States |
| 2 | TIBCO Software Inc | 2.17% | Bonds | United States |
| 3 | Marcolin SpA | 2.13% | Bonds | Italy |
| 4 | TalkTalk Telecom Group Ltd | 2.06% | Bonds | United Kingdom |
| 5 | Global Aircraft Leasing Co Ltd | 2.02% | Bonds | Non-Classified |
| 6 | 4½% Treasury Gilt 2028 | 1.97% | Bonds | United Kingdom |
| 7 | Highlands Holdings Bond Issuer Ltd / Highlands Holdings Bond Co-Issuer Inc | 1.71% | Bonds | United States |
| 8 | MPT Operating Partnership LP / MPT Finance Corp | 1.68% | Bonds | United States |
| 9 | United Kingdom Treasury Bill | 1.60% | Bonds | United Kingdom |
| 10 | Emeria SASU | 1.58% | Bonds | France |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B514328 |
| Mex Code | SZUTLI |
| Isin Code | GB00B5143284 |
| Citi Code | I6N3 |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.72% |
Aims and Benchmark
| Aims | The fund’s investment objective is to achieve a high level of income from a diversified portfolio of debt securities. The full spectrum of available securities, including unrated issues and those of non-investment grade, will be utilised. Investment will be in directly held transferable securities. The fund may also invest in collective investment schemes, warrants and money market instruments. |
| Benchmark | Income and capital growth target of between 4.5% and 6.5% per year |
| Benchmark Category | - |
| IA Sector | £ High Yield |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | Unit Trust |
| Launch price | £0.50 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Monthly |
| Distribution Type | Interest |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 28 December | 25 January |
| 28 January | 25 February |
| 28 February | 25 March |
| 28 March | 25 April |
| 28 April | 25 May |
| 28 May | 25 June |
| 28 June | 25 July |
| 28 July | 25 August |
| 28 August | 25 September |
| 28 September | 25 October |
| 28 October | 25 November |
| 28 November | 25 December |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | J.P. Morgan Trustee and Depositary Company Limited |
| Fund Administrator | IFDS |
| Fund Registrar | IFDS |
| Fund Custodian | J.P. Morgan Trustee and Depositary Company Limited |
Group Details
| Group name | Schroder Unit Trusts Limited |
| Group address | 1 London Wall Place, London, EC2Y 5AU United Kingdom |
| Group telephone | 0800 718 777 |
| Dealing telephone | 0800 718 788 |
| investorservices@schroders.com | |
| Homepage | www.schroders.co.uk |
| Fax number | 0870 043 4080 |
Dealing
| Minimum Investment | £3000000 |
| Minimum Top Up | £100000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 4 days |
| Settlement Period: Sell | 4 days |
| Pricing Basis | Forward |
| Dealing Decimals | 2 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | 1.38 |
| Beta | 1.03 |
| Sharpe | 0.00 |
| Standard Deviation | 7.75 |
| Info Ratio | 0.58 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | Yes |
| Emerging Markets | No |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | Yes |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | No |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | Yes |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Charges to Capital
Part, or all of the periodic annual management fee(s) and expenses may be charged to capital which could increase the potential for the capital value of your investment to be eroded. Your capital could also decrease if income withdrawals exceed the growth rate of the fund(s).
High Yield Bonds
The fund invests in high yield bonds. High yield bonds carry a greater risk of default than investment grade bonds, and economic conditions and interest rate movements will have a greater effect on their price. Income levels may not be achieved and the income provided may vary.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Solvency of Bond Issuers
If the fund you choose invests in bonds there is a risk that the issuer may default, resulting in a loss to the portfolio.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage. "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.