CT High Yield Bond Class Z (Gross) Inc
Report And Accounts
Simplified Prospectus / KIID
Private Investor Factsheet
Professional Investor Factsheet
Performance
Discrete performance - to last month end
| 31/03/19 to 31/03/20 |
31/03/20 to 31/03/21 |
31/03/21 to 31/03/22 |
31/03/22 to 31/03/23 |
31/03/23 to 31/03/24 |
|
|---|---|---|---|---|---|
| Fund | -8.9% | 21.9% | -2.3% | -4.5% | 10.8% |
| Sector | -10.0% | 23.5% | -1.1% | -4.5% | 10.8% |
| Rank | 8/24 | 19/27 | 20/29 | 13/29 | 14/29 |
| Quartile | 2 | 3 | 3 | 2 | 2 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/03/24 |
5 Years to 31/03/24 |
10 Years to 31/03/24 |
||
| Fund | 1.1% | 2.8% | 3.8% | |
| Sector | 1.5% | 3.1% | 3.1% | |
| Rank | 18/29 | 15/24 | 6/20 | |
| Quartile | 3 | 3 | 2 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| BLACKROCK ICS STERL LIQ – PREM DIS | 2.56 |
| ROLLS-ROYCE PLC 5.75 15/10/2027 | 1.05 |
| BELLIS ACQUISITION CO PL 3.25 16/02/2026 | 1.02 |
| LORCA TELECOM BONDCO 4.00 18/09/2027 | 1.01 |
| TEVA PHARM FNC NL II 3.75 09/05/2027 | 0.80 |
| INEOS FINANCE PLC 6.375 15/04/2029 | 0.79 |
| MARKET BIDCO FINCO PLC 5.50 04/11/2027 | 0.78 |
| TELEFONICA EUROPE BV 4.375 | 0.77 |
| INPOST SA 2.25 15/07/2027 | 0.76 |
| ILIAD HOLDING SAS 5.125 15/10/2026 | 0.76 |
| Total | 10.29 |
Fund Aims
The Fund aims to achieve a higher level of income. Income will be paid monthly. The Fund invests principally in higher risk UK and international fixed interest securities. It may also invest in equities.
Fund Manager
Roman Gaiser is the Head of Portfolio Management, High Yield, EMEA having re-joined Columbia Threadneedle Investments in 2018. Based in London, Roman is responsible for the performance of Columbia Threadneedle’s European high yield portfolios.
He has over 20 years of experience of European corporate credit and more than 18 years of experience in running European high yield portfolios. Roman worked at the company before as a high yield portfolio manager between 2005 and 2011. Since 2011. he was Head of High Yield at Pictet Asset Management, in charge of its European high yield and European short-term high yield bond strategies. Previously, he has worked as a portfolio manager at F&C in London and as an analyst for Bankgesellschaft in Berlin.
David Backhouse is a portfolio manager in the dedicated High Yield Bond team. He joined the company in 2003 as an investment analyst, specialising in non-investment grade credits. Before joining the company, David worked for Gartmore as a credit analyst. He has also worked for UBK Asset Management as a senior Telecommunications analyst and Ernst & Young as an auditor.He holds a BEng (Hons) degree in electrical and electronic engineering from UMIST and is a qualified chartered accountant. David is a member the Institute of Chartered Accountants in England and Wales.
Fund Overview
| Mid (26/04/2024) | 92.62p |
| Distribution yield | 4.71% |
| Underlying yield | - |
| Fund size (29/02/2024) | £579.22m |
| Number of holdings | 354 |
| Entry Charge | 3.00% |
| Ongoing Charges | 0.73% |
| Launch date | 24/09/2013 |
Asset Allocation
| International Bonds | 78.55% | |
| UK Corporate Bonds | 16.90% | |
| Cash and Equivalents | 0.84% | |
| Other Assets | 3.71% |
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 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.
Asset Allocation
| International Bonds | 78.55% | |
| UK Corporate Bonds | 16.90% | |
| Cash and Equivalents | 0.84% | |
| Other Assets | 3.71% |
Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Bonds | 95.45% | - | - | - | |
| Non-Classified | 3.71% | - | - | - | |
| Cash and Equivalents | 0.84% | - | - | - | |
Regional Allocation
| Developed Europe - Excl UK | 62.29% | |
| UK | 16.90% | |
| Non-Classified | 10.24% | |
| North America | 6.36% | |
| Emerging Europe | 2.14% | |
| Cash and Equivalents | 0.84% | |
| South & Central America | 0.80% | |
| Japan | 0.42% |
Fixed Interest Currencies
| Euro | 79.11% | |
| Pound Sterling | 15.24% | |
| Non-Fixed Interest Assets | 3.71% | |
| US Dollar | 1.10% | |
| Cash | 0.84% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Developed Europe - Excl UK | 62.29% | - | |
France
|
- | 14.61% | |
Netherlands
|
- | 11.35% | |
Germany
|
- | 10.10% | |
Luxembourg
|
- | 8.24% | |
Italy
|
- | 6.11% | |
Spain
|
- | 6.09% | |
Sweden
|
- | 2.06% | |
Portugal
|
- | 1.69% | |
Ireland
|
- | 1.32% | |
Belgium
|
- | 0.52% | |
Denmark
|
- | 0.20% | |
| UK | 16.90% | - | |
United Kingdom
|
- | 16.90% | |
| Non-Classified | 10.24% | - | |
| North America | 6.36% | - | |
United States
|
- | 6.12% | |
Canada
|
- | 0.24% | |
| Emerging Europe | 2.14% | - | |
Greece
|
- | 1.14% | |
Poland
|
- | 0.57% | |
Romania
|
- | 0.43% | |
| Cash and Equivalents | 0.84% | - | |
| South & Central America | 0.80% | - | |
Mexico
|
- | 0.80% | |
| Japan | 0.42% | - | |
Japan
|
- | 0.42% | |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
63.53% |
| 5Yr - 10Yr Maturity |
|
15.20% |
| 10Yr - 15Yr Maturity |
|
0.10% |
| > 15Yr Maturity |
|
16.61% |
| Cash And Equivalents |
|
0.84% |
| Unknown Maturity |
|
3.71% |
Fixed Interest Quality Profile
| A |
|
0.36% |
| BBB |
|
8.23% |
| Sub-Investment Grade |
|
40.90% |
| Unknown Quality |
|
45.96% |
| Cash and Equivalents |
|
0.84% |
| Other Asset Types |
|
3.71% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | BLACKROCK ICS STERL LIQ – PREM DIS | 2.56% | Non-Classified | Non-Classified |
| 2 | ROLLS-ROYCE PLC 5.75 15/10/2027 | 1.05% | Bonds | United Kingdom |
| 3 | BELLIS ACQUISITION CO PL 3.25 16/02/2026 | 1.02% | Bonds | United Kingdom |
| 4 | LORCA TELECOM BONDCO 4.00 18/09/2027 | 1.01% | Bonds | Spain |
| 5 | TEVA PHARM FNC NL II 3.75 09/05/2027 | 0.80% | Bonds | Netherlands |
| 6 | INEOS FINANCE PLC 6.375 15/04/2029 | 0.79% | Bonds | United Kingdom |
| 7 | MARKET BIDCO FINCO PLC 5.50 04/11/2027 | 0.78% | Bonds | United Kingdom |
| 8 | TELEFONICA EUROPE BV 4.375 | 0.77% | Bonds | Netherlands |
| 9 | INPOST SA 2.25 15/07/2027 | 0.76% | Bonds | Luxembourg |
| 10 | ILIAD HOLDING SAS 5.125 15/10/2026 | 0.76% | 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 | B99MVQ2 |
| Mex Code | DDTI24 |
| Isin Code | GB00B99MVQ21 |
| Citi Code | J6HD |
Fund Charges
| Entry Charge | 3.00% |
| Ongoing Charges | 0.73% |
Aims and Benchmark
| Aims | The Fund aims to achieve a higher level of income. Income will be paid monthly. The Fund invests principally in higher risk UK and international fixed interest securities. It may also invest in equities. |
| Benchmark | Merrill Lynch European Currency High Yield (3%) Constrained Index ex Subordinated Financials (Hedged to £) |
| Benchmark Category | - |
| IA Sector | £ High Yield |
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 | Monthly |
| Distribution Type | Interest |
| Distribution Payment Basis | Gross |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 08 December | 04 January |
| 08 January | 04 February |
| 08 February | 04 March |
| 08 March | 04 April |
| 08 April | 04 May |
| 08 May | 04 June |
| 08 June | 04 July |
| 08 July | 04 August |
| 08 August | 04 September |
| 08 September | 04 October |
| 08 October | 04 November |
| 08 November | 04 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 | Citibank |
| Fund Administrator | Citibank |
| Fund Registrar | IFDS |
| Fund Custodian | Citibank |
Group Details
| Group name | Threadneedle |
| Group address | Cannon Place 78 Cannon Street London EC4N 6AG |
| Group telephone | 0800 068 4000 |
| Dealing telephone | 0800 068 4000 |
| questions@service.columbiathreadneedle.co.uk | |
| Homepage | www.columbiathreadneedle.com |
| Fax number | 0800 068 4001 |
Dealing
| Minimum Investment | £1000000 |
| Minimum Top Up | £50000 |
| 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. 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 | -0.14 |
| Beta | 0.98 |
| Sharpe | 0.00 |
| Standard Deviation | 7.24 |
| Info Ratio | -0.11 |
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 | Yes |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | Yes |
| Umbrella Liabilities | Yes |
| 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.
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.
Income Eroding Capital Growth
The fund focuses on providing an income, which can reduce the prospects for capital growth, and in some cases the capital value may fall.
Umbrella Liabilities
If the liabilities of one fund were to exceed its assets, the other funds within the scheme might have to transfer across money to cover the liabilities.
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.