BNY Mellon Real Return (GB) Class W Inc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 31/08/20 to 31/08/21 |
31/08/21 to 31/08/22 |
31/08/22 to 31/08/23 |
31/08/23 to 31/08/24 |
31/08/24 to 31/08/25 |
|
|---|---|---|---|---|---|
| Fund | 10.0% | -5.6% | -3.5% | 10.6% | 7.3% |
| Sector | 6.5% | -0.4% | 1.3% | 8.4% | 5.5% |
| Rank | 23/61 | 47/64 | 60/70 | 21/70 | 21/72 |
| Quartile | 2 | 3 | 4 | 2 | 2 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/08/25 |
5 Years to 31/08/25 |
10 Years to 31/08/25 |
||
| Fund | 4.6% | 3.5% | 3.9% | |
| Sector | 5.0% | 4.2% | 2.7% | |
| Rank | 40/70 | 37/61 | 15/44 | |
| Quartile | 3 | 3 | 2 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| USA Treasury Notes 1.25% TII 15/4/2028 USD100 | 5.05 |
| 4¾% Treasury Gilt 2043 | 4.31 |
| Brazil (Fed Rep of) 0% LTN 01/01/2030 BRL1000 | 3.50 |
| UK Treasury Bill 0% 27/10/2025 GBP0.01 | 3.42 |
| Mexico (United Mexican States) 7.75% Bds 29/05/2031 MXN100 | 3.38 |
| South Africa (Republic of) 7% Bds 28/02/2031 ZAR1 | 2.32 |
| MICROSOFT CORPORATION | 2.17 |
| AMAZON.COM | 1.79 |
| NVIDIA CORPORATION | 1.75 |
| TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED | 1.53 |
| Total | 29.21 |
Fund Aims
The objective of the Sub-Fund is to achieve significant real rates of return in Sterling terms predominantly from a portfolio of UK and international securities. The Sub-Fund is managed to seek a minimum return of cash (1 month GBP LIBOR) +4% per annum over 5 years before fees. In so doing we aim to achieve a positive return on a rolling 3 year basis. However, a positive return is not guaranteed and a capital loss may occur. The Sub-Fund may also invest in deposits, approved money market instruments, derivative instruments, forward transactions and collective investment schemes.
Fund Manager
Ella is head of the fixed-income team. Ella joined Newton in July 2023 and has 20 years’ experience in managing a variety of fixed-income portfolios. Ella was previously a senior investment manager at Pictet Asset Management on the global bonds team. Prior to that, Ella held senior investment management positions at Wellington Management and Invesco Asset Management.
Ella was recognised as one of the 50 leading women in hedge funds for 2019 and is an active advocate of developing and nurturing diverse talent in the industry.
Ella holds an Executive MBA from the University of Cambridge. She also holds a MSc in International Finance and a BA Hons degree in Business Finance. In addition, she is a CFA charterholder.
Ella speaks five languages and is a qualified sommelier.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
Andy is co-head of the Real Return team. Together with Aron Pataki, Andy is responsible for the final capital allocation decisions on the strategy. Andy started his career at Mercury Asset Management in 1993 as a unit trust dealer before joining the quant and derivatives team to focus on managing synthetic portfolios for clients and trading equity derivatives for the firm. In 2006, Andy joined the multi-asset team at BlackRock where he was responsible for managing absolute and relative return mandates, as well as the head of research specialising in equity thematic views and risk premia strategies. Andy has an MSc in Finance from Leicester University and is a CFA charterholder.
Andy plays in a rock band in his spare time and enjoys playing, writing and recording music.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
Aron is co-head of the Real Return team and risk strategist for the Real Return portfolios, with a particular focus on the use of derivatives and hedging. Together with Andy Warwick, Aron is responsible for the final capital allocation decisions on the strategy. Aron joined Newton in 2006 as a member of the portfolio analytics team, where he was responsible for risk analysis and portfolio construction across Newton’s institutional and retail portfolios. Previously, he worked as a quantitative analyst at Lacima Group.
Fund Overview
| Mid (17/09/2025) | 118.05p |
| Historic yield | 2.76% |
| Fund size (31/07/2025) | £2054.36m |
| Number of holdings | 135 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.82% |
| Launch date | 05/09/2012 |
Asset Allocation
| International Equities | 34.75% | |
| International Bonds | 26.01% | |
| UK Gilts | 6.90% | |
| UK Equities | 6.44% | |
| UK Corporate Bonds | 6.28% | |
| Commodities | 3.53% | |
| Investment Trusts | 3.34% | |
| Cash and Equivalents | 1.60% | |
| Property | 0.82% | |
| Other Assets | 10.33% |
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.
Asset Allocation
| International Equities | 34.75% | |
| International Bonds | 26.01% | |
| UK Gilts | 6.90% | |
| UK Equities | 6.44% | |
| UK Corporate Bonds | 6.28% | |
| Commodities | 3.53% | |
| Investment Trusts | 3.34% | |
| Cash and Equivalents | 1.60% | |
| Property | 0.82% | |
| Other Assets | 10.33% |
Bond Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Bonds | 39.18% | - | - | - | |
| Financials | 12.00% | - | - | - | |
| Financial Services | - | 5.68% | - | - | |
| Equity Investment Instruments | - | - | 3.34% | - | |
| Equity Investment Instruments | - | - | - | 3.34% | |
| Investment Banking & Brokerage Services | - | - | 1.76% | - | |
| Investment Services | - | - | - | 1.76% | |
| Finance & Credit Services | - | - | 0.58% | - | |
| Financial Data & Systems | - | - | - | 0.58% | |
| Banks | - | 4.19% | - | - | |
| Banks | - | - | 4.19% | - | |
| Banks | - | - | - | 4.19% | |
| Insurance | - | 2.14% | - | - | |
| Non-life Insurance | - | - | 1.35% | - | |
| Reinsurance | - | - | - | 0.76% | |
| Insurance Brokers | - | - | - | 0.59% | |
| Life Insurance | - | - | 0.79% | - | |
| Life Insurance | - | - | - | 0.79% | |
| Non-Classified | 10.13% | - | - | - | |
| Non-Classified | - | 6.67% | - | - | |
| Non-Classified | - | - | 6.67% | - | |
| Non-Classified | - | - | - | 6.67% | |
| Technology | 8.88% | - | - | - | |
| Technology | - | 8.88% | - | - | |
| Software & Computer Services | - | - | 4.75% | - | |
| Consumer Digital Services | - | - | - | 2.58% | |
| Software | - | - | - | 2.17% | |
| Technology Hardware & Equipment | - | - | 4.14% | - | |
| Semiconductors | - | - | - | 4.14% | |
| Industrials | 8.14% | - | - | - | |
| Industrial Goods & Services | - | 8.14% | - | - | |
| Aerospace & Defence | - | - | 2.45% | - | |
| Aerospace | - | - | - | 1.55% | |
| Defense | - | - | - | 0.90% | |
| Electronic & Electrical Equipment | - | - | 2.00% | - | |
| Electrical Components | - | - | - | 2.00% | |
| Industrial Engineering | - | - | 1.55% | - | |
| Machinery: Agricultural | - | - | - | 0.80% | |
| Machinery: Industrial | - | - | - | 0.75% | |
| Industrial Support Services | - | - | 1.37% | - | |
| Professional Business Support Services | - | - | - | 0.78% | |
| Transaction Processing Services | - | - | - | 0.59% | |
| General Industrials | - | - | 0.44% | - | |
| Diversified Industrials | - | - | - | 0.44% | |
| Industrial Transportation | - | - | 0.33% | - | |
| Commercial Vehicle-Equipment Leasing | - | - | - | 0.33% | |
| Consumer Discretionary | 6.80% | - | - | - | |
| Media | - | 2.50% | - | - | |
| Media | - | - | 2.50% | - | |
| Entertainment | - | - | - | 0.94% | |
| Media Agencies | - | - | - | 0.83% | |
| Radio & TV Broadcasters | - | - | - | 0.72% | |
| Retail | - | 2.31% | - | - | |
| Retailers | - | - | 2.31% | - | |
| Diversified Retailers | - | - | - | 1.79% | |
| Apparel Retailers | - | - | - | 0.52% | |
| Consumer Products & Services | - | 1.19% | - | - | |
| Personal Goods | - | - | 1.19% | - | |
| Cosmetics | - | - | - | 0.65% | |
| Clothing & Accessories | - | - | - | 0.55% | |
| Travel & Leisure | - | 0.81% | - | - | |
| Travel & Leisure | - | - | 0.81% | - | |
| Restaurants & Bars | - | - | - | 0.81% | |
| Commodities | 3.53% | - | - | - | |
| Commodities | - | 3.53% | - | - | |
| Commodities | - | - | 3.53% | - | |
| Commodities | - | - | - | 3.53% | |
| Health Care | 3.51% | - | - | - | |
| Health Care | - | 3.51% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 2.14% | - | |
| Pharmaceuticals | - | - | - | 2.14% | |
| Medical Equipment & Services | - | - | 1.37% | - | |
| Medical Supplies | - | - | - | 0.94% | |
| Medical Equipment | - | - | - | 0.43% | |
| Utilities | 1.81% | - | - | - | |
| Utilities | - | 1.81% | - | - | |
| Electricity | - | - | 1.81% | - | |
| Conventional Electricity | - | - | - | 1.20% | |
| Alternative Electricity | - | - | - | 0.61% | |
| Cash and Equivalents | 1.60% | - | - | - | |
| Basic Materials | 1.57% | - | - | - | |
| Chemicals | - | 1.04% | - | - | |
| Chemicals | - | - | 1.04% | - | |
| Chemicals: Diversified | - | - | - | 1.04% | |
| Basic Resources | - | 0.53% | - | - | |
| Industrial Metals & Mining | - | - | 0.53% | - | |
| Copper | - | - | - | 0.53% | |
| Consumer Staples | 1.34% | - | - | - | |
| Personal Care, Drug & Grocery Stores | - | 1.00% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 1.00% | - | |
| Personal Products | - | - | - | 1.00% | |
| Food, Beverage & Tobacco | - | 0.34% | - | - | |
| Food Producers | - | - | 0.34% | - | |
| Food Products | - | - | - | 0.34% | |
| Real Estate | 0.82% | - | - | - | |
| Real Estate | - | 0.82% | - | - | |
| Real Estate Investment Trusts | - | - | 0.82% | - | |
| Diversified REITs | - | - | - | 0.82% | |
| Energy | 0.46% | - | - | - | |
| Energy | - | 0.46% | - | - | |
| Non-Renewable Energy | - | - | 0.46% | - | |
| Oil Refining and Marketing | - | - | - | 0.46% | |
| Alternative Trading Strategies | 0.20% | - | - | - | |
| Alternative Trading Strategies | - | 0.20% | - | - | |
| Alternative Trading Strategies | - | - | 0.20% | - | |
| Alternative Trading Strategies | - | - | - | 0.20% | |
Regional Allocation
| North America | 27.72% | |
| UK | 19.94% | |
| Developed Europe - Excl UK | 13.83% | |
| South & Central America | 7.61% | |
| Non-Classified | 13.68% | |
| Emerging Asia | 3.76% | |
| Australia & New Zealand | 3.60% | |
| Commodities | 3.53% | |
| Middle East & Africa | 2.32% | |
| Other Regions | 4.01% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 59.22% | |
| Pound Sterling | 12.95% | |
| US Dollar | 9.11% | |
| Brazilian Real | 3.50% | |
| Euro | 3.47% | |
| Mexican Peso | 3.38% | |
| Other Currencies | 8.37% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| North America | 27.72% | - | |
United States
|
- | 27.58% | |
Canada
|
- | 0.13% | |
| UK | 19.94% | - | |
United Kingdom
|
- | 19.61% | |
Guernsey
|
- | 0.33% | |
| Developed Europe - Excl UK | 13.83% | - | |
France
|
- | 3.38% | |
Germany
|
- | 2.31% | |
Ireland
|
- | 2.24% | |
Switzerland
|
- | 1.64% | |
Italy
|
- | 1.32% | |
Netherlands
|
- | 1.18% | |
Luxembourg
|
- | 0.90% | |
Spain
|
- | 0.87% | |
| South & Central America | 7.61% | - | |
Mexico
|
- | 3.83% | |
Brazil
|
- | 3.50% | |
Colombia
|
- | 0.27% | |
| Non-Classified | 13.68% | - | |
| Emerging Asia | 3.76% | - | |
Taiwan
|
- | 1.53% | |
South Korea
|
- | 0.85% | |
Indonesia
|
- | 0.85% | |
India
|
- | 0.53% | |
| Australia & New Zealand | 3.60% | - | |
Australia
|
- | 1.81% | |
New Zealand
|
- | 1.78% | |
| Commodities | 3.53% | - | |
| Middle East & Africa | 2.32% | - | |
South Africa
|
- | 2.32% | |
| Cash and Equivalents | 1.60% | - | |
| Property | 0.82% | - | |
| Developed Asia | 0.79% | - | |
Hong Kong
|
- | 0.79% | |
| Japan | 0.65% | - | |
Japan
|
- | 0.65% | |
| Emerging Europe | 0.15% | - | |
Hungary
|
- | 0.15% | |
Breakdown By Market Cap (%)
| Mega |
|
24.02% |
| Large |
|
4.17% |
| Medium |
|
3.46% |
| Small |
|
0.61% |
| Non-Classified |
|
26.95% |
| Bonds |
|
39.18% |
| Cash |
|
1.60% |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
13.55% |
| 5Yr - 10Yr Maturity |
|
13.58% |
| 10Yr - 15Yr Maturity |
|
3.17% |
| > 15Yr Maturity |
|
8.88% |
| Cash And Equivalents |
|
1.60% |
| Unknown Maturity |
|
6.99% |
| Other Asset Types |
|
52.22% |
Fixed Interest Quality Profile
| AAA |
|
3.05% |
| AA |
|
11.95% |
| BBB |
|
4.60% |
| Sub-Investment Grade |
|
6.56% |
| Unknown Quality |
|
13.02% |
| Cash and Equivalents |
|
1.60% |
| Other Asset Types |
|
59.22% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | USA Treasury Notes 1.25% TII 15/4/2028 USD100 | 5.05% | Bonds | United States |
| 2 | 4¾% Treasury Gilt 2043 | 4.31% | Bonds | United Kingdom |
| 3 | Brazil (Fed Rep of) 0% LTN 01/01/2030 BRL1000 | 3.50% | Bonds | Brazil |
| 4 | UK Treasury Bill 0% 27/10/2025 GBP0.01 | 3.42% | Bonds | United Kingdom |
| 5 | Mexico (United Mexican States) 7.75% Bds 29/05/2031 MXN100 | 3.38% | Bonds | Mexico |
| 6 | South Africa (Republic of) 7% Bds 28/02/2031 ZAR1 | 2.32% | Bonds | South Africa |
| 7 | MICROSOFT CORPORATION | 2.17% | Software & Computer Services | United States |
| 8 | AMAZON.COM | 1.79% | Retailers | United States |
| 9 | NVIDIA CORPORATION | 1.75% | Technology Hardware & Equipment | United States |
| 10 | TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED | 1.53% | Technology Hardware & Equipment | Taiwan |
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 | B7W3652 |
| Mex Code | RSETRS |
| Isin Code | GB00B7W36529 |
| Citi Code | GPQJ |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.82% |
Aims and Benchmark
| Aims | The objective of the Sub-Fund is to achieve significant real rates of return in Sterling terms predominantly from a portfolio of UK and international securities. The Sub-Fund is managed to seek a minimum return of cash (1 month GBP LIBOR) +4% per annum over 5 years before fees. In so doing we aim to achieve a positive return on a rolling 3 year basis. However, a positive return is not guaranteed and a capital loss may occur. The Sub-Fund may also invest in deposits, approved money market instruments, derivative instruments, forward transactions and collective investment schemes. |
| Benchmark | LIBOR GBP 1 Month + 4% |
| Benchmark Category | - |
| IA Sector | Targeted Absolute Return |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | ICVC |
| 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 | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 02 January | 28 February |
| 03 July | 30 September |
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 | The National Westminster Bank plc |
| Fund Administrator | Bank of New York Mellon (International) Limited |
| Fund Registrar | BNY Mellon Fund Managers Limited |
| Fund Custodian | The National Westminster Bank plc |
Group Details
| Group name | BNY Mellon Fund Management (Luxembourg) S.A. |
| Group address | BNY Mellon Asset Management International Limited The Bank of New York Mellon Centre 160 Queen Victoria Street London EC4V 4LA United Kingdom |
| Group telephone | 0500 66 00 00 |
| Dealing telephone | - |
| - | |
| Homepage | www.bnymellonam.com |
| Fax number | - |
Dealing
| Minimum Investment | £10000000 |
| Minimum Top Up | £0 |
| 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.