abrdn OEIC abrdn High Yield Bond Platform 1 Inc

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

Performance

Discrete performance - to last month end

28/02/19
to
29/02/20
29/02/20
to
28/02/21
28/02/21
to
28/02/22
28/02/22
to
28/02/23
28/02/23
to
29/02/24
Fund 5.2% 7.1% -0.2% -3.5% 10.7%
Sector 5.7% 5.8% -0.6% -4.4% 9.5%
Rank 15/25 10/28 15/30 11/30 9/30
Quartile 3 2 2 2 2

Annualised performance

Annualised
3 Years to
29/02/24
5 Years to
29/02/24
10 Years to
29/02/24
Fund 2.2% 3.7% 3.6%
Sector 1.3% 3.0% 3.1%
Rank 11/30 8/25 5/21
Quartile 2 2 1

Top 10 Holdings

Stock % Weight
VIRGIN MEDIA VENDOR FIN 4.875% 07/15/2028 2.13
ROLLS-ROYCE PLC 5.75% 10/15/2027 1.85
STICHTING AK RABOBANK 6.5% 1.72
BELLIS ACQUISITION CO PL 4.5% 02/16/2026 1.66
ALBION FINANCING 1SARL / 5.25% 10/15/2026 1.63
TEVA PHARM FNC NL II 4.375% 05/09/2030 1.60
GOODYEAR EUROPE BV 2.75% 08/15/2028 1.54
ELECTRICITE DE FRANCE SA 5.375% 1.50
TK ELEVATOR MIDCO GMBH 4.375% 07/15/2027 1.50
ALTICE FINCO SA 4.75% 01/15/2028 1.48
Total 16.62

Fund Aims

To generate income and some growth over the long term (5 years or more) by investing in Sterling and Euro denominated sub-investment grade (high yield) corporate bonds.

Performance Target: To achieve the return of the ICE BofA GBP/Euro Fixed & Floating High Yield Non-Financial 3% Constrained Index (Hedged to GBP) plus 0.8% per annum over rolling three year periods (before charges).

There is no certainty or promise that the Performance Target will be achieved.

The ICE BofA GBP/Euro Fixed & Floating High Yield Non-Financial 3% Constrained (Hedged to GBP) Index ( the "Index") is a representative index of the market for high yield bonds in Europe which excludes financial institutions.

Fund Manager

Arthur Milson manager for 5 years and 3 months

Photo of Arthur Milson Arthur works in the High Yield team alongside Erlend Lochen, Alasdair MacLean and Samantha Lamb. His role involves the identification and researching of investment opportunities and assisting in the managing of the High Yield Funds. Arthur joined Standard Life Investments in June 2006 from HBOS. There he worked initially in leveraged finance, providing debt funding to private equity backed MBO deals. Latterly, he was a member of the Bank’s Integrated Finance team, specialising in the debt and equity financing of buyouts.

Fund Overview

Mid (28/03/2024) 54.55p
Distribution yield 5.92%
Underlying yield 5.92%
Fund size (31/01/2024) £227.79m
Number of holdings 145
Entry Charge 0.00%
Ongoing Charges 0.75%
Launch date 22/05/2012

Asset Allocation

pie chart
  International Bonds 79.13%
  UK Corporate Bonds 16.00%
  Cash and Equivalents 2.38%
  Alternative Trading Strategies 1.72%
  UK Gilts 0.27%
  Other Assets 0.49%
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 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 79.13%
  UK Corporate Bonds 16.00%
  Cash and Equivalents 2.38%
  Alternative Trading Strategies 1.72%
  UK Gilts 0.27%
  Other Assets 0.49%

Bond Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Bonds 95.40% - - -
 
Cash and Equivalents 2.38% - - -
 
Alternative Trading Strategies 1.72% - - -
 
Alternative Trading Strategies - 1.72% - -
 
Alternative Trading Strategies - - 1.72% -
 
Alternative Trading Strategies - - - 1.72%
 
Non-Classified 0.49% - - -

Regional Allocation

pie chart
  Developed Europe - Excl UK 69.82%
  UK 16.27%
  North America 5.69%
  Non-Classified 4.09%
  Cash and Equivalents 2.38%
  South & Central America 0.79%
  Emerging Europe 0.78%
  Japan 0.17%

Fixed Interest Currencies

pie chart
  Euro 69.34%
  Pound Sterling 17.80%
  US Dollar 8.26%
  Cash 2.38%
  Non-Fixed Interest Assets 2.22%

Regional Breakdown

Expand allCollapse all
Region Country
 
Developed Europe - Excl UK 69.82% -
 
Netherlands - 19.40%
 
Luxembourg - 14.00%
 
Germany - 12.38%
 
France - 10.30%
 
Spain - 4.75%
 
Sweden - 2.95%
 
Italy - 2.68%
 
Ireland - 2.22%
 
Austria - 0.62%
 
Switzerland - 0.52%
 
UK 16.27% -
 
United Kingdom - 16.27%
 
North America 5.69% -
 
United States - 5.69%
 
Non-Classified 4.09% -
 
Cash and Equivalents 2.38% -
 
South & Central America 0.79% -
 
Mexico - 0.79%
 
Emerging Europe 0.78% -
 
Czech Republic - 0.78%
 
Japan 0.17% -
 
Japan - 0.17%

Fixed Interest Maturity Profile

< 5Yr Maturity
 
 
68.58%
5Yr - 10Yr Maturity
 
 
15.77%
10Yr - 15Yr Maturity
 
 
1.39%
> 15Yr Maturity
 
 
9.67%
Cash And Equivalents
 
 
2.38%
Unknown Maturity
 
 
0.49%
Other Asset Types
 
 
1.72%

Fixed Interest Quality Profile

AA
 
 
0.27%
BBB
 
 
2.95%
Sub-Investment Grade
 
 
31.65%
Unknown Quality
 
 
60.53%
Cash and Equivalents
 
 
2.38%
Other Asset Types
 
 
2.22%

Top 10 Holdings

Stock % Weight Sector Country
1 VIRGIN MEDIA VENDOR FIN 4.875% 07/15/2028 2.13% Bonds Ireland
2 ROLLS-ROYCE PLC 5.75% 10/15/2027 1.85% Bonds United Kingdom
3 STICHTING AK RABOBANK 6.5% 1.72% Non-Classified Netherlands
4 BELLIS ACQUISITION CO PL 4.5% 02/16/2026 1.66% Bonds United Kingdom
5 ALBION FINANCING 1SARL / 5.25% 10/15/2026 1.63% Bonds Luxembourg
6 TEVA PHARM FNC NL II 4.375% 05/09/2030 1.60% Bonds Netherlands
7 GOODYEAR EUROPE BV 2.75% 08/15/2028 1.54% Bonds Netherlands
8 ELECTRICITE DE FRANCE SA 5.375% 1.50% Bonds France
9 TK ELEVATOR MIDCO GMBH 4.375% 07/15/2027 1.50% Bonds Germany
10 ALTICE FINCO SA 4.75% 01/15/2028 1.48% Bonds Luxembourg

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 B7G7DD7
Mex Code STNCLA
Isin Code GB00B7G7DD75
Citi Code 10GH

Fund Charges

Entry Charge 0.00%
Ongoing Charges 0.75%

Aims and Benchmark

Aims To generate income and some growth over the long term (5 years or more) by investing in Sterling and Euro denominated sub-investment grade (high yield) corporate bonds. Performance Target: To achieve the return of the ICE BofA GBP/Euro Fixed & Floating High Yield Non-Financial 3% Constrained Index (Hedged to GBP) plus 0.8% per annum over rolling three year periods (before charges). There is no certainty or promise that the Performance Target will be achieved. The ICE BofA GBP/Euro Fixed & Floating High Yield Non-Financial 3% Constrained (Hedged to GBP) Index ( the "Index") is a representative index of the market for high yield bonds in Europe which excludes financial institutions.
Benchmark ICE BofA GBP/Euro Fixed & Floating High Yield Non Financial 3% Constrained (Hedged to GBP)
Benchmark Category -
IA Sector £ High Yield

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 December 31 January
01 March 30 April
01 June 31 July
01 September 31 October

Ratings

FE Crown Crown Rating of 2

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 SS&C Financial Services Europe Limited
Fund Custodian Citibank

Group Details

Group name abrdn OEIC
Group address Aberdeen Standard Fund Managers Limited PO BOX 12233 Chelmsford CM99 2EE
Group telephone 0800 33 33 53
Dealing telephone 0800 33 33 53
Email investments_marketline@standardlife.com
Homepage www.aberdeenstandard.com
Fax number 0131 525 9720

Dealing

Minimum Investment £2000000
Minimum Top Up £50000
Minimum Regular Saving -
Settlement Period: Buy 3 days
Settlement Period: Sell 3 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 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 1.13
Beta 1.02
Sharpe 0.00
Standard Deviation 7.49
Info Ratio 0.73

Risk Factors

Risk Factor Yes / No
Charges to Capital No
Emerging Markets Yes
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 Yes
Performance Charges No
Derivative Exposure No
Offshore No
Income Eroding Capital Growth Yes
Umbrella Liabilities No
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

Emerging Markets

The fund invests in emerging markets. Generally less well regulated than the UK. There is an increased chance of political and economic instability with less reliable custody, dealing and settlement arrangements. The market(s) can be less liquid. If a fund investing in markets is affected by currency exchange rates, the investment could either increase or decrease. These investments therefore carry more risk.

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.

Higher Risk

This fund is specifically aimed at sophisticated investors and is particularly high risk, because it concentrates on a region that may be exposed to unusual political or economic risks. You should only invest if you are comfortable with the specific risks pertaining to the fund in question. If you are not familiar with these you should ask us for a copy of the provider's key features and brochure.

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.

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.