Liontrust Sustainable Future Corporate Bond Class 2 Inc

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

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 3.9% 7.7% -9.2% -7.1% 6.5%
Sector 5.3% 4.9% -7.3% -6.6% 5.5%
Rank 63/87 8/92 79/92 41/95 20/97
Quartile 3 1 4 2 1

Annualised performance

Annualised
3 Years to
30/04/24		 5 Years to
30/04/24		 10 Years to
30/04/24
Fund -3.5% 0.1% 2.6%
Sector -3.0% 0.2% 2.3%
Rank 51/92 41/87 14/69
Quartile 3 2 1

Top 10 Holdings

Stock % Weight
⅞% Green Gilt 2033 3.81
NATIONAL WESTMINSTER BANK PLC 2.72
ZURICH FINANCE (IRELAND) DAC 2.38
AT&T INC 2.36
LEGAL & GENERAL GRP PLC 2.19
VERIZON COMMUNICATIONS INC 2.10
STANDARD CHARTERED PLC 1.96
ROTHESAY LIFE LTD 1.95
RABOBANK NEDERLAND 1.71
ING GROEP NV 1.59
Total 22.78

Fund Aims

The Fund aims to deliver income with capital growth over the long term (5 years or more).

Fund Manager

Jack Willis manager for 3 years and 1 months

Photo of Jack Willis Jack Willis joined Liontrust in April 2017 as part of the company's acquisition of Alliance Trust Investments. He started his career on the Alliance Trust Management training programme in September 2014 after graduating with First Class Honours in Mathematics with Finance from the University of Leeds and subsequently completing an MSc in Finance and Investment with Distinction, also at the University of Leeds. Following a successful period as a credit analyst within the team, he is now Co-manager on the Liontrust Monthly Income Bond Fund, Sustainable Future Corporate Bond Fund and GF Sustainable Future European Corporate Bond Fund. Jack is a CFA Charterholder.

Kenny Watson manager for 10 years and 7 months

Photo of Kenny Watson Kenny Watson joined Liontrust in April 2017 after more than three years at Alliance Trust Investments. He is a Co-manager of the Liontrust Monthly Income Bond, Sustainable Future Corporate Bond Fund and GF Sustainable Future European Corporate Bond Fund. Prior to this, he worked for Ignis Asset Management for 15 years, specialising first in UK smaller companies, before moving to the fixed income team in 2004 where he was responsible for the sub-investment grade bond portfolios including the High Income Bond Fund. Prior to focusing on sub-investment grade bonds, he was part of the team managing investment grade life company mandates. He started his career at KPMG, after qualifying as a chartered accountant, before joining Murray Johnstone as a trainee fund manager in UK equities in 1994. Kenny has a BA in Accounting & Economics from the University of Strathclyde and is a chartered accountant.

Aitken Ross manager for 10 years and 2 months

Photo of Aitken Ross Aitken Ross joined Liontrust in April 2017 as part of the company's acquisition of Alliance Trust Investments. He started his career on the Alliance Trust Management training programme in September 2010 after graduating in Accountancy and Finance (First Class Honours) from Dundee University and subsequently completing an MA in International Financial Analysis (Distinction) at Newcastle University. Following a successful period as an analyst within the team, he is now Co-manager on the Liontrust Monthly Income Bond Fund, Sustainable Future Corporate Bond Fund and GF Sustainable Future European Corporate Bond Fund. Aitken is a CFA Charterholder.

Fund Overview

Mid (02/05/2024) 69.82p
Distribution yield 4.16%
Underlying yield -
Fund size (31/03/2024) £666.56m
Number of holdings 78
Entry Charge 0.00%
Ongoing Charges 0.56%
Launch date 19/02/2001

Asset Allocation

pie chart
  UK Corporate Bonds 40.50%
  International Bonds 35.21%
  Cash and Equivalents 7.48%
  UK Gilts 3.81%
  UK Equities 1.96%
  Other Assets 11.04%

Commentary

Corporate bond markets ended the year on a positive note, and continued their outperformance of government bonds. New issue activity was relatively light as the holiday season approached, and investors focused their attention on the US. The Federal Reserve’s decision to maintain its asset purchase programme, at least until US unemployment falls back to 6.5 per cent, was welcomed by investors. In view of protracted negotiations between president and congress to avert the looming ‘fiscal cliff’ of tax hikes and spending cuts in the New Year, we actively managed the interest rate sensitivity of the portfolio during the month. At the end of December, the portfolio was positioned for an anticipated period of weakness in the gilt market in the early weeks of 2013. Activity was relatively light last month. We sold down our holding in US telecoms operator AT&T after a review of the company’s rating on SRI criteria highlighted concerns over its corporate governance record and caused us to downgrade its sustainability rating. We participated in a new issue of 20-year bonds from Notting Hill Housing Association, which came to the market on an attractive valuation and provides significant exposure to the affordable accommodation sector.

Portfolio data accurate as at: 31/03/24

Important Information

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 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 investment can go down as well as up so you might get back less than you put in. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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
  UK Corporate Bonds 40.50%
  International Bonds 35.21%
  Cash and Equivalents 7.48%
  UK Gilts 3.81%
  UK Equities 1.96%
  Other Assets 11.04%

Bond Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
 Bonds 79.51% - - -
 
 Non-Classified 13.00% - - -
 
 Cash and Equivalents 7.48% - - -

Regional Allocation

pie chart
  UK 46.26%
  Non-Classified 22.53%
  Developed Europe - Excl UK 17.59%
  Cash and Equivalents 7.48%
  North America 6.14%

Fixed Interest Currencies

pie chart
  Pound Sterling 67.26%
  Non-Fixed Interest Assets 17.15%
  Euro 7.29%
  US Dollar 4.97%
  Cash 3.33%

Regional Breakdown

Expand allCollapse all
Region Country
 
 UK 46.26% -
 
 United Kingdom - 46.26%
 
 Non-Classified 22.53% -
 
 Developed Europe - Excl UK 17.59% -
 
 France - 6.65%
 
 Netherlands - 6.33%
 
 Ireland - 1.53%
 
 Denmark - 1.10%
 
 Spain - 1.00%
 
 Germany - 0.97%
 
 Cash and Equivalents 7.48% -
 
 North America 6.14% -
 
 United States - 6.14%

Fixed Interest Maturity Profile

< 5Yr Maturity
 
 
4.75%
5Yr - 10Yr Maturity
 
 
41.92%
10Yr - 15Yr Maturity
 
 
11.37%
> 15Yr Maturity
 
 
21.48%
Cash And Equivalents
 
 
7.48%
Unknown Maturity
 
 
11.04%
Other Asset Types
 
 
1.96%

Fixed Interest Quality Profile

AA
 
 
5.04%
A
 
 
19.70%
BBB
 
 
37.38%
Unknown Quality
 
 
17.40%
Cash and Equivalents
 
 
7.48%
Other Asset Types
 
 
13.00%

Top 10 Holdings

Stock % Weight Sector Country
1 ⅞% Green Gilt 2033 3.81% Bonds United Kingdom
2 NATIONAL WESTMINSTER BANK PLC 2.72% Non-Classified Non-Classified
3 ZURICH FINANCE (IRELAND) DAC 2.38% Bonds Non-Classified
4 AT&T INC 2.36% Bonds United States
5 LEGAL & GENERAL GRP PLC 2.19% Bonds United Kingdom
6 VERIZON COMMUNICATIONS INC 2.10% Bonds United States
7 STANDARD CHARTERED PLC 1.96% Non-Classified United Kingdom
8 ROTHESAY LIFE LTD 1.95% Bonds United Kingdom
9 RABOBANK NEDERLAND 1.71% Bonds Netherlands
10 ING GROEP NV 1.59% Bonds Netherlands

Important Information

The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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 3002906
Mex Code NUSCB2
Isin Code GB0030029069
Citi Code CU97

Fund Charges

Entry Charge 0.00%
Ongoing Charges 0.56%

Aims and Benchmark

Aims The Fund aims to deliver income with capital growth over the long term (5 years or more).
Benchmark IBOXX GBP Corporate All Maturities
Benchmark Category Comparator
IA Sector £ Corporate Bond

Fund Background

Valuation frequency Daily
Valuation point 12:00
Fund type OEIC
Launch price £0.50
Fund currency Pound Sterling
Fund domicile United Kingdom
ISA allowable Yes
SIPP allowable Yes

Distribution Details

Income frequency Quarterly
Distribution Type Interest
Distribution Payment Basis Net

Distribution Dates

Ex dividend date(s) Income payment date(s)
01 February 31 March
01 May 30 June
01 August 30 September
01 November 31 December

Ratings

FE Crown Crown Rating of 1

Effect of Deductions

Assuming a growth rate of 6.00% Assuming a growth rate of 7.00%
4.50% 5.50%

Fund Administration

Fund Trustee/Depository The Bank of New York Mellon (International) Limited
Fund Administrator The Bank of New York Mellon (International) Limited
Fund Registrar The Bank of New York Mellon SA/NV
Fund Custodian The Bank of New York Mellon (International) Limited

Group Details

Group name Liontrust Fund Partners LLP
Group address 2 Savoy Court London WC2R 0EZ
Group telephone 020 7412 1766
Dealing telephone 020 7964 4774
Email info@liontrust.co.uk
Homepage www.liontrust.co.uk
Fax number 020 7412 1779

Dealing

Minimum Investment £500000
Minimum Top Up £25000
Minimum Regular Saving -
Settlement Period: Buy 4 days
Settlement Period: Sell 4 days
Pricing Basis Forward
Dealing Decimals 3

Important Information

Ongoing charges may vary in the future and may be higher than they are now. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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 investment can go down as well as up so you might get back less than you put in. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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.