Schroder Strategic Credit Class Z Acc

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 -3.7% 14.4% -2.9% -0.5% 11.3%
Sector 1.9% 9.0% -4.8% -3.5% 5.5%
Rank 64/69 15/74 21/79 18/82 3/85
Quartile 4 1 2 1 1

Annualised performance

Annualised
3 Years to
30/04/24		 5 Years to
30/04/24		 10 Years to
30/04/24
Fund 2.4% 3.4% 3.3%
Sector -1.0% 1.5% 2.4%
Rank 4/79 9/69 10/52
Quartile 1 1 1

Top 10 Holdings

Stock % Weight
Pinewood Finance Co Ltd 1.55
Merlin Entertainments Ltd 1.31
UGI International LLC 1.23
TalkTalk Telecom Group Ltd 1.17
Hiscox Ltd 1.17
Gruenenthal GmbH 1.14
Ford Motor Credit Co LLC 1.13
BP Capital Markets PLC 1.13
Nidda Healthcare Holding GmbH 1.02
United Kingdom Treasury Bill 0.98
Total 11.82

Fund Aims

The fund invests in bonds issued by companies in the UK and Europe, with the flexibility to exploit opportunities across the fixed income spectrum to build a diversified portfolio of bonds. This will include bonds that have been awarded lower ratings from credit agencies, or no ratings at all. The fund also has the flexibility to invest outside Europe, and in bonds issued by governments or government agencies. The fund has no set target in respect of any country or sector but seeks to focus on investments which offer the most attractive returns. Investments in bonds issued in a foreign currency will be hedged to reduce the effects of exchange rate fluctuations between that currency and the fund's base currency, pounds sterling. The fund may also invest in other financial instruments and hold cash on deposit. Derivatives may be used to achieve the investment objective and to reduce risk or manage the fund more efficiently. The fund may use leverage and take indirect short positions.

Fund Manager

Peter Harvey manager for 18 years

Photo of Peter Harvey Peter Harvey joined Cazenove Capital in 2005 and is Head of Credit and manager of the Cazenove Strategic Debt Fund and the Morningstar OBSR Bronze rated Cazenove Strategic Bond Fund. Peter joined from F&C Management Ltd where he had been Head of UK Credit. He is a Director of Cazenove Capital and has 22 years’ experience analysing and investing in corporate debt. Peter graduated with a 2.1 degree from the University of St Andrews.

Fund Overview

Mid (29/04/2024) 69.16p
Distribution yield 6.50%
Underlying yield -
Fund size (31/03/2024) £731.13m
Number of holdings 356
Entry Charge 0.00%
Ongoing Charges 0.77%
Launch date 04/04/2006

Asset Allocation

pie chart
  International Bonds 61.59%
  UK Corporate Bonds 34.35%
  Alternative Trading Strategies 0.03%
  International Equities 0.00%
  Cash and Equivalents -0.19%
  Other Assets 4.22%

Commentary

Not Applicable

Portfolio data accurate as at: 31/03/24
Portfolio data accurate as at:

Asset Allocation

pie chart
  International Bonds 61.59%
  UK Corporate Bonds 34.35%
  Alternative Trading Strategies 0.03%
  International Equities 0.00%
  Cash and Equivalents -0.19%
  Other Assets 4.22%

Bond Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
 Bonds 95.94% - - -
 
 Non-Classified 4.22% - - -
 
 Alternative Trading Strategies 0.03% - - -
 
 Alternative Trading Strategies - 0.03% - -
 
 Alternative Trading Strategies - - 0.03% -
 
 Alternative Trading Strategies - - - 0.03%
 
 Cash and Equivalents -0.19% - - -

Regional Allocation

pie chart
  Developed Europe - Excl UK 41.94%
  UK 34.35%
  North America 12.61%
  Non-Classified 8.78%
  South & Central America 0.93%
  Emerging Europe 0.74%
  Middle East & Africa 0.72%
  Japan 0.06%
  Australia & New Zealand 0.05%
  Cash and Equivalents -0.19%

Fixed Interest Currencies

pie chart
  Pound Sterling 43.97%
  Euro 31.80%
  US Dollar 20.01%
  Non-Fixed Interest Assets 4.25%
  Swiss Franc 0.16%
  Cash -0.19%

Regional Breakdown

Expand allCollapse all
Region Country
 
 Developed Europe - Excl UK 41.94% -
 
 Germany - 11.89%
 
 France - 6.23%
 
 Italy - 5.54%
 
 Luxembourg - 4.50%
 
 Netherlands - 3.50%
 
 Ireland - 1.95%
 
 Spain - 1.85%
 
 Austria - 1.50%
 
 Switzerland - 1.50%
 
 Sweden - 0.81%
 
 Norway - 0.77%
 
 Belgium - 0.77%
 
 Finland - 0.68%
 
 Denmark - 0.44%
 
 UK 34.35% -
 
 United Kingdom - 34.35%
 
 North America 12.61% -
 
 United States - 12.33%
 
 Canada - 0.28%
 
 Non-Classified 8.78% -
 
 South & Central America 0.93% -
 
 Mexico - 0.86%
 
 Brazil - 0.08%
 
 Emerging Europe 0.74% -
 
 Poland - 0.63%
 
 Greece - 0.11%
 
 Middle East & Africa 0.72% -
 
 Israel - 0.72%
 
 Japan 0.06% -
 
 Japan - 0.06%
 
 Australia & New Zealand 0.05% -
 
 Australia - 0.05%
 
 Cash and Equivalents -0.19% -

Property Regions

pie chart
  BB 25.47%
  B 20.96%
  BBB 17.14%
  AA 11.11%
  A 10.51%
  NR 10.15%
  Other 16.47%

Asset Allocation

pie chart
  Other 38.11%
  Banking - SENR 19.07%
  Healthcare 9.42%
  Telecommunications 7.76%
  Services 6.94%
  Basic Industry 6.51%
  Other Assets 24.00%

Fixed Interest Maturity Profile

< 5Yr Maturity
 
 
69.33%
5Yr - 10Yr Maturity
 
 
15.37%
10Yr - 15Yr Maturity
 
 
0.04%
> 15Yr Maturity
 
 
11.19%
Cash And Equivalents
 
-0.19%
Unknown Maturity
 
 
4.22%
Other Asset Types
 
 
0.03%

Fixed Interest Quality Profile

AAA
 
 
0.89%
AA
 
 
0.26%
A
 
 
5.39%
BBB
 
 
15.45%
Sub-Investment Grade
 
 
27.56%
Unknown Quality
 
 
46.39%
Cash and Equivalents
 
-0.19%
Other Asset Types
 
 
4.25%

Top 10 Holdings

Stock % Weight Sector Country
1 Pinewood Finance Co Ltd 1.55% Bonds United Kingdom
2 Merlin Entertainments Ltd 1.31% Bonds United Kingdom
3 UGI International LLC 1.23% Bonds United States
4 TalkTalk Telecom Group Ltd 1.17% Bonds United Kingdom
5 Hiscox Ltd 1.17% Bonds Germany
6 Gruenenthal GmbH 1.14% Bonds Germany
7 Ford Motor Credit Co LLC 1.13% Bonds United States
8 BP Capital Markets PLC 1.13% Bonds United Kingdom
9 Nidda Healthcare Holding GmbH 1.02% Bonds Germany
10 United Kingdom Treasury Bill 0.98% Bonds United Kingdom

Identification Codes

Sedol Code BJZ2ZC0
Mex Code -
Isin Code GB00BJZ2ZC09
Citi Code K84E

Fund Charges

Entry Charge 0.00%
Ongoing Charges 0.77%

Aims and Benchmark

Aims The fund invests in bonds issued by companies in the UK and Europe, with the flexibility to exploit opportunities across the fixed income spectrum to build a diversified portfolio of bonds. This will include bonds that have been awarded lower ratings from credit agencies, or no ratings at all. The fund also has the flexibility to invest outside Europe, and in bonds issued by governments or government agencies. The fund has no set target in respect of any country or sector but seeks to focus on investments which offer the most attractive returns. Investments in bonds issued in a foreign currency will be hedged to reduce the effects of exchange rate fluctuations between that currency and the fund's base currency, pounds sterling. The fund may also invest in other financial instruments and hold cash on deposit. Derivatives may be used to achieve the investment objective and to reduce risk or manage the fund more efficiently. The fund may use leverage and take indirect short positions.
Benchmark ICE BofA Sterling 3 Month Government Bill Index
Benchmark Category -
IA Sector £ Strategic Bond

Fund Background

Valuation frequency Daily
Valuation point 12:00
Fund type OEIC
Launch price £1.00
Fund currency Pound Sterling
Fund domicile United Kingdom
ISA allowable Yes
SIPP allowable Yes

Distribution Details

Income frequency Biannually
Distribution Type Interest
Distribution Payment Basis Net

Distribution Dates

Ex dividend date(s) Income payment date(s)
01 January 28 February
01 July 31 August

Ratings

FE Crown Crown Rating of 5

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 J.P. Morgan Trustee and Depositary Company Limited
Fund Registrar J.P. Morgan Trustee and Depositary Company Limited
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
Email investorservices@schroders.com
Homepage www.schroders.co.uk
Fax number 0870 043 4080

Dealing

Minimum Investment £1000000
Minimum Top Up £10000
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 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.