Royal London Corporate Bond Class M 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 4.6% 7.6% -5.3% -6.6% 8.0%
Sector 5.3% 4.9% -7.3% -6.6% 5.5%
Rank 54/87 9/92 19/92 36/95 4/97
Quartile 3 1 1 2 1

Annualised performance

Annualised
3 Years to
30/04/24		 5 Years to
30/04/24		 10 Years to
30/04/24
Fund -1.5% 1.4% 3.4%
Sector -3.0% 0.2% 2.3%
Rank 21/92 7/87 2/69
Quartile 1 1 1

Top 10 Holdings

Stock % Weight
GBP FWD FX CONTRACT 05 APR 2024 10.38
ICF LONG GILT FUTURE Mar24 9.25
HSBC Bank Fund 5.844% VRN Perp 2.08
Legal And General Group 5.5% VRN 27/06/2064 1.90
HSBC Holdings PLC 8.201% VRN 16/11/2034 1.83
M&G Plc 5.7% VRN 19/12/2063 1.59
Aviva 6.875% VRN 20/05/2058 1.55
Assicurazioni Generali 6.269% Perp 1.40
FUTURES LIABILITY 1.36
Barclays Bank PLC 6.278% VRN Perp 1.32
Total 32.67

Fund Aims

The fund’s investment objective is to achieve a total return over the medium term (3-5 years), by investing at least 80% in sterlingdenominated corporate bonds. The fund's performance target is to outperform, after the deduction of charges, the iBoxx Sterling Non-Gilt Total Return GBP Index (the "Index") over a rolling 5-year period. For further information on the fund's index, please refer to the Prospectus.

Fund Manager

Shalin Shah manager for 6 years and 7 months

Photo of Shalin Shah Shalin Shah joined the Fixed Income team in 2008. Prior to becoming a credit Fund Manager Shalin was involved in a variety of areas including LDI (Liability Driven Investment) product development and risk management. Before joining RLAM, Shalin worked at PricewaterhouseCoopers LLP where he was involved in advising clients on a variety of investment solutions, including LDI and strategic asset allocation. Shalin holds a BSc in MORSE (Mathematics, Operational Research, Statistics and Economics) from the University of Warwick and is a qualified actuary.

Matt Franklin manager for 2 years and 3 months

Photo of Matt Franklin Matt is responsible for the management of a variety of sterling corporate bond portfolios, as co-manager of Royal London Sustainable Managed Income, Sustainable Managed Growth, Corporate Bond Monthly Income and Corporate Bond, as well as several segregated portfolios. He joined RLAM’s Sterling Credit team in 2014 as a credit analyst, building a deep understanding of both unsecured corporate bonds and asset backed securities across a variety of sectors, as well as playing a key role in the development of the team’s approach to ESG integration. Matt has a degree in Economics from Durham University, is a CFA Charterholder, and a Certified Financial Risk Manager (FRM).

Fund Overview

Mid (30/04/2024) 150.50p
Distribution yield 5.32%
Underlying yield -
Fund size (31/01/2024) £1287.95m
Number of holdings 344
Entry Charge 0.00%
Ongoing Charges 0.56%
Launch date 26/11/2012

Asset Allocation

pie chart
  UK Corporate Bonds 62.69%
  International Bonds 21.56%
  UK Equities 1.82%
  Cash and Equivalents -0.15%
  Other Assets 14.08%
Portfolio data accurate as at: 31/01/24

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 62.69%
  International Bonds 21.56%
  UK Equities 1.82%
  Cash and Equivalents -0.15%
  Other Assets 14.08%

Bond Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
 Bonds 85.58% - - -
 
 Non-Classified 14.57% - - -
 
 Cash and Equivalents -0.15% - - -

Regional Allocation

pie chart
  UK 64.51%
  Non-Classified 18.14%
  Developed Europe - Excl UK 14.25%
  North America 2.22%
  Australia & New Zealand 1.02%
  Cash and Equivalents -0.15%

Fixed Interest Currencies

pie chart
  Pound Sterling 73.77%
  Non-Fixed Interest Assets 15.90%
  US Dollar 5.49%
  Euro 4.99%
  Cash -0.15%

Regional Breakdown

Expand allCollapse all
Region Country
 
 UK 64.51% -
 
 United Kingdom - 64.51%
 
 Non-Classified 18.14% -
 
 Developed Europe - Excl UK 14.25% -
 
 France - 6.24%
 
 Switzerland - 1.93%
 
 Ireland - 1.47%
 
 Sweden - 1.47%
 
 Luxembourg - 1.17%
 
 Germany - 0.99%
 
 Netherlands - 0.81%
 
 Finland - 0.10%
 
 Denmark - 0.08%
 
 North America 2.22% -
 
 United States - 2.22%
 
 Australia & New Zealand 1.02% -
 
 Australia - 1.02%
 
 Cash and Equivalents -0.15% -

Fixed Interest Maturity Profile

< 5Yr Maturity
 
 
11.73%
5Yr - 10Yr Maturity
 
 
20.14%
10Yr - 15Yr Maturity
 
 
10.31%
> 15Yr Maturity
 
 
42.08%
Cash And Equivalents
 
-0.15%
Unknown Maturity
 
 
14.08%
Other Asset Types
 
 
1.82%

Fixed Interest Quality Profile

AAA
 
 
1.94%
AA
 
 
3.48%
A
 
 
17.71%
BBB
 
 
31.20%
Sub-Investment Grade
 
 
7.49%
Unknown Quality
 
 
22.43%
Cash and Equivalents
 
-0.15%
Other Asset Types
 
 
15.90%

Top 10 Holdings

Stock % Weight Sector Country
1 GBP FWD FX CONTRACT 05 APR 2024 10.38% Non-Classified Non-Classified
2 ICF LONG GILT FUTURE Mar24 9.25% Non-Classified Non-Classified
3 HSBC Bank Fund 5.844% VRN Perp 2.08% Bonds United Kingdom
4 Legal And General Group 5.5% VRN 27/06/2064 1.90% Bonds United Kingdom
5 HSBC Holdings PLC 8.201% VRN 16/11/2034 1.83% Non-Classified Non-Classified
6 M&G Plc 5.7% VRN 19/12/2063 1.59% Bonds United Kingdom
7 Aviva 6.875% VRN 20/05/2058 1.55% Bonds United Kingdom
8 Assicurazioni Generali 6.269% Perp 1.40% Bonds Non-Classified
9 FUTURES LIABILITY 1.36% Non-Classified Non-Classified
10 Barclays Bank PLC 6.278% VRN Perp 1.32% Bonds United Kingdom

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 B87FJ40
Mex Code RLCBTA
Isin Code GB00B87FJ401
Citi Code GWUM

Fund Charges

Entry Charge 0.00%
Ongoing Charges 0.56%

Aims and Benchmark

Aims The fund’s investment objective is to achieve a total return over the medium term (3-5 years), by investing at least 80% in sterlingdenominated corporate bonds. The fund's performance target is to outperform, after the deduction of charges, the iBoxx Sterling Non-Gilt Total Return GBP Index (the "Index") over a rolling 5-year period. For further information on the fund's index, please refer to the Prospectus.
Benchmark iBoxx Sterling Non Gilt All Maturities Index
Benchmark Category -
IA Sector £ Corporate 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 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 4

Effect of Deductions

Assuming a growth rate of 6.00% Assuming a growth rate of 7.00%
- -

Fund Administration

Fund Trustee/Depository HSBC Bank plc
Fund Administrator HSBC Bank plc
Fund Registrar DST Financial Services Europe
Fund Custodian HSBC Bank plc

Group Details

Group name Royal London Unit Trust Managers Limited
Group address 55 Gracechurch Street London EC3V 0UF
Group telephone 020 32725408
Dealing telephone 08456 04 04 04
Email platforms@rlam.co.uk
Homepage www.rlam.co.uk
Fax number -

Dealing

Minimum Investment £100000
Minimum Top Up £1000
Minimum Regular Saving -
Settlement Period: Buy 3 days
Settlement Period: Sell 3 days
Pricing Basis Forward
Dealing Decimals 4

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.