MI TwentyFour Investment Funds Dynamic Bond Class I Net Acc
Report And Accounts
Simplified Prospectus / KIID
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 | -1.8% | 15.9% | -5.8% | -6.0% | 10.2% |
| Sector | 1.9% | 9.0% | -4.8% | -3.5% | 5.5% |
| Rank | 54/69 | 10/74 | 47/79 | 66/82 | 6/85 |
| Quartile | 4 | 1 | 3 | 4 | 1 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/04/24 |
5 Years to 30/04/24 |
10 Years to 30/04/24 |
||
| Fund | -0.8% | 2.1% | 2.9% | |
| Sector | -1.0% | 1.5% | 2.4% | |
| Rank | 38/79 | 23/69 | 14/52 | |
| Quartile | 2 | 2 | 2 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| T 4 1/2 11/15/33 | 11.81 |
| DBR 2.2 02/15/34 | 9.13 |
| T 4 02/15/34 | 2.35 |
| B 06/06/24 | 1.96 |
| COVBS 6 ⅞ PERP | 1.88 |
| NATIONWIDE BUILDING SOCIETY | 1.78 |
| PICORP 7 ⅜ PERP | 1.30 |
| NWIDE 5 3/4 PERP | 1.16 |
| PHNXLN 5 3/4 PERP | 1.08 |
| ROTHLF 6 ⅞ PERP | 0.98 |
| Total | 33.43 |
Fund Aims
The Dynamic Bond Fund aims to provide an attractive level of income along with an opportunity for capital growth, by investing in a broad range of bonds and fixed income assets.
Fund Manager
Eoin is one of the founding partners of TwentyFour, and a Portfolio Manager. Eoin’s main responsibility is managing the firm’s Multi-Sector Bond team with funds including the Dynamic Bond Fund and Select Monthly Income Fund. He also sits on the firm’s Investment Committee. Eoin has over 20 years of experience in fixed income markets and prior to joining TwentyFour was a portfolio manager at Citigroup Alternative Investments, managing over $75bn of fixed income assets.
Mark is one of the founding partners of TwentyFour, and serves as the firm’s Chief Executive Officer. He sits on the firm’s Executive Committee, which has the overall responsibility for the day to day running of the firm, as well as the Board of Directors which sets the overall strategy and direction of the business. Day to day, Mark is also a key member of the firm’s Multi-Sector Bond team which manages strategies including the Dynamic Bond Fund. He is a member of the firm’s Investment Committee. Mark has 29 years of experience in fixed income markets gained across a variety of senior roles asset management and investment banking, including positions at Barclays Capital, Lehman Brothers and Morgan Stanley.
David Norris joined TwentyFour in September 2018. Based in the New York office, he serves as the Head of US Credit as well as one of the portfolio managers of the Multi-Sector Bond team. He is a credit specialist with 30 years’ experience in fixed income markets gained across a variety of senior roles in asset management and investment banking in London, Frankfurt and New York.
Felipe joined TwentyFour in 2011 and is a Portfolio Manager in the Multi-Sector Bond team. Felipe’s main responsibility is managing funds including the Dynamic Bond Fund and Select Monthly Income Fund. He is also a member of the Investment Committee. Prior to joining TwentyFour, Felipe worked as an Asset Allocation and Strategy Analyst at Celfin Capital in Chile, now part of the BTG Pactual group. There, Felipe took an active role in developing the team’s strategic view of the global macro economy and asset classes. Felipe graduated from Pontificia Universidad Catolica de Chile with a Bachelor’s degree in Economics and Business Administration before obtaining a master’s in Finance from the London Business School. Felipe is also a CFA Charterholder.
Pierre joined TwentyFour in April 2014 as a Portfolio Manager in the Multi-Sector Bond team. His main responsibility is managing the business line’s funds including the Dynamic Bond Fund and Select Monthly Income Fund. Pierre also manages the FX hedging and daily funding for a number of funds and managed accounts. Pierre has over 7 years of experience in fixed income and previously worked in WestLB’s credit trading and special situations divisions. Pierre graduated in Mathematics & Economics from University College London.
Fund Overview
| Mid (02/05/2024) | £183.26 |
| Distribution yield | 4.20% |
| Underlying yield | - |
| Fund size (31/03/2024) | £1538.51m |
| Number of holdings | 242 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.79% |
| Launch date | 26/04/2010 |
Asset Allocation
| International Bonds | 68.57% | |
| UK Corporate Bonds | 17.05% | |
| UK Equities | 1.78% | |
| Alternative Trading Strategies | 0.28% | |
| Other Assets | 12.33% |
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 Bonds | 68.57% | |
| UK Corporate Bonds | 17.05% | |
| UK Equities | 1.78% | |
| Alternative Trading Strategies | 0.28% | |
| Other Assets | 12.33% |
Bond Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Bonds | 85.61% | - | - | - | |
| Non-Classified | 12.33% | - | - | - | |
| Financials | 1.78% | - | - | - | |
| Banks | - | 1.78% | - | - | |
| Banks | - | - | 1.78% | - | |
| Banks | - | - | - | 1.78% | |
| Alternative Trading Strategies | 0.28% | - | - | - | |
| Alternative Trading Strategies | - | 0.28% | - | - | |
| Alternative Trading Strategies | - | - | 0.28% | - | |
| Alternative Trading Strategies | - | - | - | 0.28% | |
Regional Allocation
| Developed Europe - Excl UK | 40.68% | |
| North America | 24.09% | |
| UK | 18.82% | |
| Non-Classified | 15.06% | |
| South & Central America | 1.33% | |
| Developed Asia | 0.02% |
Fixed Interest Currencies
| Euro | 36.88% | |
| US Dollar | 30.22% | |
| Pound Sterling | 18.51% | |
| Non-Fixed Interest Assets | 14.39% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Developed Europe - Excl UK | 40.68% | - | |
Germany
|
- | 9.89% | |
Ireland
|
- | 9.52% | |
Netherlands
|
- | 6.07% | |
Spain
|
- | 4.21% | |
France
|
- | 4.19% | |
Italy
|
- | 2.24% | |
Luxembourg
|
- | 1.17% | |
Austria
|
- | 1.11% | |
Denmark
|
- | 1.09% | |
Switzerland
|
- | 0.69% | |
Sweden
|
- | 0.34% | |
Belgium
|
- | 0.17% | |
| North America | 24.09% | - | |
United States
|
- | 23.92% | |
Canada
|
- | 0.17% | |
| UK | 18.82% | - | |
United Kingdom
|
- | 18.82% | |
| Non-Classified | 15.06% | - | |
| South & Central America | 1.33% | - | |
Mexico
|
- | 1.33% | |
| Developed Asia | 0.02% | - | |
Singapore
|
- | 0.02% | |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
12.78% |
| 5Yr - 10Yr Maturity |
|
39.78% |
| 10Yr - 15Yr Maturity |
|
4.27% |
| > 15Yr Maturity |
|
28.78% |
| Other Asset Types |
|
14.39% |
Fixed Interest Quality Profile
| AAA |
|
14.16% |
| A |
|
0.61% |
| BBB |
|
14.38% |
| Sub-Investment Grade |
|
16.17% |
| Unknown Quality |
|
40.30% |
| Other Asset Types |
|
14.39% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | T 4 1/2 11/15/33 | 11.81% | Bonds | United States |
| 2 | DBR 2.2 02/15/34 | 9.13% | Bonds | Germany |
| 3 | T 4 02/15/34 | 2.35% | Bonds | United States |
| 4 | B 06/06/24 | 1.96% | Bonds | United States |
| 5 | COVBS 6 ⅞ PERP | 1.88% | Bonds | United Kingdom |
| 6 | NATIONWIDE BUILDING SOCIETY | 1.78% | Banks | United Kingdom |
| 7 | PICORP 7 ⅜ PERP | 1.30% | Bonds | United Kingdom |
| 8 | NWIDE 5 3/4 PERP | 1.16% | Bonds | United Kingdom |
| 9 | PHNXLN 5 3/4 PERP | 1.08% | Bonds | United Kingdom |
| 10 | ROTHLF 6 ⅞ PERP | 0.98% | 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 | B5VRV67 |
| Mex Code | - |
| Isin Code | GB00B5VRV677 |
| Citi Code | JZU9 |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.79% |
Aims and Benchmark
| Aims | The Dynamic Bond Fund aims to provide an attractive level of income along with an opportunity for capital growth, by investing in a broad range of bonds and fixed income assets. |
| Benchmark | 3m GBP Libor |
| Benchmark Category | - |
| IA Sector | £ Strategic Bond |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 18:00 |
| Fund type | OEIC |
| Launch price | £10.00 |
| 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 | Gross |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 January | 28 February |
| 01 April | 31 May |
| 01 July | 31 August |
| 01 October | 30 November |
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 | Maitland Institutional Services Limited |
| Fund Registrar | Maitland International Securities Limited |
| Fund Custodian | The Northern Trust Company |
Group Details
| Group name | MI TwentyFour Investment Funds |
| Group address | TwentyFour Asset Management 24 Cornhill, London, EC2V 3ND |
| Group telephone | 0207 015 8900 |
| Dealing telephone | - |
| salessupport@twentyfouram.com | |
| Homepage | www.twentyfouram.com |
| Fax number | - |
Dealing
| Minimum Investment | £1000 |
| Minimum Top Up | £1000 |
| 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.
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.