Prudential Baillie Gifford High Yield Bond S4

Essentials Portfolio Analysis Background Data Investment Risk Performance View PDF Factsheet
Portfolio data accurate as at:

Performance

Discrete performance - to last month end

30/11/15
to
30/11/16
30/11/16
to
30/11/17
30/11/17
to
30/11/18
30/11/18
to
30/11/19
30/11/19
to
30/11/20
Fund 5.2% 6.3% -2.8% 6.9% 1.0%
Sector 5.1% 5.9% -2.2% 6.3% 2.0%
Rank 16/36 18/38 33/38 17/38 31/38
Quartile 2 2 4 2 4

Annualised performance

Annualised
3 Years to
30/11/20
5 Years to
30/11/20
10 Years to
30/11/20
Fund 1.6% 3.2% 4.3%
Sector 2.0% 3.4% 3.9%
Rank 28/38 26/36 16/31
Quartile 3 3 2

Top 10 Holdings

Stock % Weight
Netflix 4.625% 2029 2.64
Unicredit 4.875% 2024/29 1.99
Darling Ingredients 3.625% 2026 1.97
Travis Perkins 4.5% 2023 1.86
Co-operative Group 7.5% 2026 1.84
First Cash 4.625% 2028 (144A) 1.82
Adevinta 3% 2027 1.80
Canpack 2.375% 2027 1.78
LeasePlan 7.375% 2024 Perp AT1 1.70
Virgin Media 5% 2027 1.64
Total 19.04

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the Baillie Gifford High Yield Bond Fund - the underlying fund.

Underlying Fund Objective: The fund aims to produce a high level of return by investing in a diversified portfolio consisting primarily of sub-investment grade bonds. Currency forwards and derivatives may be used from time to time in keeping with the fund’s objective with the intention of either protecting or enhancing the return on the fund. No more than 10% in value of the property of the fund will be invested in units of other collective investment schemes. More than 35% in value of the property of the fund may be invested in Government and Public securities.

Fund Manager

Lucy Isles manager of the underlying fund for 2 years and 11 months

Photo of Lucy Isles Lucy Isles - graduated MA (Hons) in International Relations and Modern History from the University of St Andrews in 2011. Lucy joined Baillie Gifford in 2012 and is an Investment Manager in the High Yield Team.

Rob Baltzer manager of the underlying fund for 10 years and 6 months

Photo of Rob Baltzer Robert graduated with MMath from Durham University in 2001. He joined Baillie Gifford in the same year and is an Investment Manager in the Credit Team. Robert is a CFA Charterholder and is the chair of the trustees of our own Pension Fund.

Fund Overview

Bid (04/12/2020) 155.10
Offer (04/12/2020) 163.30
Fund size (30/09/2020) £4.07m
Underlying Fund size £830.56m
Number of holdings 93
Launch date 25/01/2010

Fund Charges

Annual Management Charge (AMC) 1.60%
Further Costs 0.06%
Yearly Total 1.66%

Asset Allocation

pie chart
  International Bonds 81.07%
  UK Corporate Bonds 17.03%
  Cash and Equivalents 1.66%
  Alternative Trading Strategies 0.24%
Portfolio data accurate as at: 31/10/20

Important Information

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Source of portfolio data: Broadridge. 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 fund charges and further costs, but take no account of product charges, or any Annual Management Charge paid for by the deduction of units. Charges and further costs 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 net 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.

Portfolio data accurate as at:

Asset Allocation

pie chart
  International Bonds 81.07%
  UK Corporate Bonds 17.03%
  Cash and Equivalents 1.66%
  Alternative Trading Strategies 0.24%

Bond Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Bonds 98.10% - - -
 
Cash and Equivalents 1.66% - - -
 
Alternative Trading Strategies 0.24% - - -
 
Alternative Trading Strategies - 0.24% - -
 
Alternative Trading Strategies - - 0.24% -
 
Alternative Trading Strategies - - - 0.24%

Regional Allocation

pie chart
  Developed Europe - Excl UK 40.09%
  North America 30.24%
  UK 18.52%
  Emerging Europe 4.33%
  South & Central America 2.45%
  Cash and Equivalents 1.66%
  Other Regions 2.71%

Fixed Interest Currencies

pie chart
  Euro 51.01%
  US Dollar 25.47%
  Pound Sterling 21.62%
  Cash 1.66%
  Non-Fixed Interest Assets 0.24%

Regional Breakdown

Expand allCollapse all
Region Country
 
Developed Europe - Excl UK 40.09% -
 
Netherlands - 9.84%
 
France - 5.91%
 
Italy - 5.43%
 
Ireland - 4.20%
 
Luxembourg - 3.54%
 
Germany - 3.44%
 
Sweden - 3.39%
 
Norway - 1.80%
 
Portugal - 1.29%
 
Spain - 1.25%
 
North America 30.24% -
 
United States - 30.24%
 
UK 18.52% -
 
United Kingdom - 17.03%
 
Jersey - 1.49%
 
Emerging Europe 4.33% -
 
Poland - 1.78%
 
Czech Republic - 1.37%
 
Romania - 1.18%
 
South & Central America 2.45% -
 
Mexico - 1.59%
 
Panama - 0.65%
 
Chile - 0.21%
 
Cash and Equivalents 1.66% -
 
Japan 1.57% -
 
Japan - 1.57%
 
Middle East & Africa 0.90% -
 
South Africa - 0.90%
 
Non-Classified 0.24% -

Fixed Interest Maturity Profile

< 5Yr Maturity
 
 
40.66%
5Yr - 10Yr Maturity
 
 
46.07%
10Yr - 15Yr Maturity
 
 
2.17%
> 15Yr Maturity
 
 
9.20%
Cash And Equivalents
 
 
1.66%
Other Asset Types
 
 
0.24%

Fixed Interest Quality Profile

BBB
 
 
5.78%
Sub-Investment Grade
 
 
54.35%
Unknown Quality
 
 
37.97%
Cash and Equivalents
 
 
1.66%
Other Asset Types
 
 
0.24%

Top 10 Holdings

Stock % Weight Sector Country
1 Netflix 4.625% 2029 2.64% Bonds United States
2 Unicredit 4.875% 2024/29 1.99% Bonds Italy
3 Darling Ingredients 3.625% 2026 1.97% Bonds Netherlands
4 Travis Perkins 4.5% 2023 1.86% Bonds United Kingdom
5 Co-operative Group 7.5% 2026 1.84% Bonds United Kingdom
6 First Cash 4.625% 2028 (144A) 1.82% Bonds United States
7 Adevinta 3% 2027 1.80% Bonds Norway
8 Canpack 2.375% 2027 1.78% Bonds Poland
9 LeasePlan 7.375% 2024 Perp AT1 1.70% Bonds Netherlands
10 Virgin Media 5% 2027 1.64% Bonds United Kingdom

Important Information

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

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 B5B1YG0
Mex Code PUBGFF
Isin Code GB00B5B1YG03
Citi Code I2Z8

Fund Charges

Annual Management Charge (AMC) 1.60%
Further Costs 0.06%
Yearly Total 1.66%

Aims and Benchmark

Aims Objective: The investment strategy of the fund is to purchase units in the Baillie Gifford High Yield Bond Fund - the underlying fund. Underlying Fund Objective: The fund aims to produce a high level of return by investing in a diversified portfolio consisting primarily of sub-investment grade bonds. Currency forwards and derivatives may be used from time to time in keeping with the fund’s objective with the intention of either protecting or enhancing the return on the fund. No more than 10% in value of the property of the fund will be invested in units of other collective investment schemes. More than 35% in value of the property of the fund may be invested in Government and Public securities.
Benchmark Investment Association Sterling High Yield sector average
ABI Sector Sterling High Yield

Ratings

FE Crown Crown Rating of 3

Important Information

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Charges and further costs 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. 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.

Risk Analysis

Ratio Value
Alpha -0.74
Beta 1.11
Sharpe 0.00
Standard Deviation 10.29
Info Ratio -0.28

Risk Factors

Risk Factor Yes / No
Charges to Capital No
Emerging Markets No
Concentrated Portfolio Yes
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 Yes
Higher Risk No
Performance Charges No
Derivative Exposure Yes
Offshore No
Income Eroding Capital Growth No
Umbrella Liabilities No
New Fund No
Solvency of Depository No
Solvency of Bond Issuers No
Ethical Restrictions No
Liquidity Yes
Returns Are Not Guaranteed Yes
Inflation Yes
Taxation and Tax Relief Yes

Fund Specific Risks

Concentrated Portfolio

The fund may invest in a relatively smaller number of stocks. This stock concentration may carry more risk than funds spread across a larger number of companies.

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.

Exchange Rate

This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.

Derivative Exposure

The fund invests in derivatives as part of its investment strategy, over and above their use for Efficient Portfolio Management (EPM). Investors should be aware that the use of these instruments can, under certain circumstances, increase the volatility and risk profile of the Fund beyond that expected of a fund that only invests in equities. The fund may also be exposed to the risk that the company issuing the derivative may not honour their obligations which in turn could lead to losses arising.

Liquidity

This fund can suffer from partial or total illiquidity, which may lead to considerable price fluctuations and the inability to redeem your investment.

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

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

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

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

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 fund charges and further costs, but take no account of product charges, or any Annual Management Charge paid for by the deduction of units. Charges and further costs 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 net 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.