IFSL Church House Investment Grade Fixed Interest Fund Class A Acc

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

Performance

Discrete performance - to last month end

31/03/21
to
31/03/22		 31/03/22
to
31/03/23		 31/03/23
to
31/03/24		 31/03/24
to
31/03/25		 31/03/25
to
31/03/26
Fund -2.3% -4.1% 7.6% 4.5% 4.3%
Sector -4.2% -9.1% 7.4% 3.2% 4.4%
Rank 6/86 16/89 37/91 29/92 45/92
Quartile 1 1 2 2 2

Annualised performance

Annualised
3 Years to
31/03/26		 5 Years to
31/03/26		 10 Years to
31/03/26
Fund 5.5% 1.9% 2.4%
Sector 5.0% 0.1% 2.3%
Rank 29/91 11/86 28/69
Quartile 2 1 2

Top 10 Holdings

Stock % Weight
KREDITANSTALT 4 010731 2.04
STANDARD CH 5.125 060634 1.72
BARCLAYS 5.851% 210335 1.62
RIO TINTO FIN 4 111229 1.57
BNS 4.526278 150928 1.47
SSE PLC 3.74 PERP 1.46
GOLDMAN SACHS 7.25 100428 1.43
BPLN 6 PERP 1.39
INT FINANCE CO 4.5 021028 1.38
EUROPEAN 4% 150229 1.28
Total 15.36

Fund Aims

The Fund aims to provide quarterly income, while maintaining capital over the long term (at least 5 years). The Fund will invest at least 90% directly in shares of Sterling denominated investment grade corporate bonds (including floating rate notes), UK Government Gilts and fixed interest securities issued by supranational organisations.

Fund Manager

James Mahon manager for 21 years and 1 months

Photo of James Mahon James is the Chief Executive and Chief Investment Officer of Church House. He was instrumental in the establishment of Church House Investment Management in 1999 and brings many years of experience to his role. He became a member of the London Stock Exchange in 1980 and has held a number of senior posts including being a partner in stockbrokers Galloway & Pearson, a director of Hoare Govett and Managing Director of Archdale Securities.

Jeremy Wharton manager for 21 years and 1 months

Photo of Jeremy Wharton Jeremy is a Director with a particular involvement in Fixed Income. He had a 14 year career in the City during which he worked in the gilts market and co-founded an independent gilt broker. He then spent 5 years as a professional investor in derivatives, trading a global macro derivatives book, before joining Church House in 2004.

Fund Overview

Bid (02/04/2026) 199.00p
Offer (02/04/2026) 209.50p
Distribution yield 4.59%
Underlying yield -
Fund size (28/02/2026) £442.70m
Number of holdings 128
Entry Charge 0.00%
Ongoing Charges 0.85%
Launch date 11/12/2000

Asset Allocation

pie chart
  UK Corporate Bonds 56.18%
  International Bonds 38.78%
  Cash and Equivalents 3.49%
  Investment Trusts 0.61%
  Alternative Trading Strategies 0.52%
  Other Assets 0.42%
Portfolio data accurate as at: 28/02/26
Portfolio data accurate as at:

Asset Allocation

pie chart
  UK Corporate Bonds 56.18%
  International Bonds 38.78%
  Cash and Equivalents 3.49%
  Investment Trusts 0.61%
  Alternative Trading Strategies 0.52%
  Other Assets 0.42%

Bond Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
 Bonds 94.97% - - -
 
 Cash and Equivalents 3.49% - - -
 
 Financials 0.61% - - -
 
 Financial Services - 0.61% - -
 
 Equity Investment Instruments - - 0.61% -
 
 Equity Investment Instruments - - - 0.61%
 
 Alternative Trading Strategies 0.52% - - -
 
 Alternative Trading Strategies - 0.52% - -
 
 Alternative Trading Strategies - - 0.52% -
 
 Alternative Trading Strategies - - - 0.52%
 
 Non-Classified 0.42% - - -
 
 Non-Classified - 0.42% - -
 
 Non-Classified - - 0.42% -
 
 Non-Classified - - - 0.42%

Regional Allocation

pie chart
  UK 56.18%
  Developed Europe - Excl UK 19.68%
  North America 18.19%
  Cash and Equivalents 3.49%
  Non-Classified 1.54%
  Developed Asia 0.91%

Fixed Interest Currencies

pie chart
  Pound Sterling 94.97%
  Cash 3.49%
  Non-Fixed Interest Assets 1.54%

Regional Breakdown

Expand allCollapse all
Region Country
 
 UK 56.18% -
 
 United Kingdom - 56.18%
 
 Developed Europe - Excl UK 19.68% -
 
 Germany - 6.12%
 
 Luxembourg - 4.88%
 
 France - 4.10%
 
 Netherlands - 1.86%
 
 Switzerland - 1.13%
 
 Denmark - 0.91%
 
 Belgium - 0.69%
 
 North America 18.19% -
 
 United States - 11.72%
 
 Canada - 6.47%
 
 Cash and Equivalents 3.49% -
 
 Non-Classified 1.54% -
 
 Developed Asia 0.91% -
 
 Singapore - 0.91%

Fixed Interest Maturity Profile

< 5Yr Maturity
 
 
43.60%
5Yr - 10Yr Maturity
 
 
32.47%
10Yr - 15Yr Maturity
 
 
4.06%
> 15Yr Maturity
 
 
14.83%
Cash And Equivalents
 
 
3.49%
Unknown Maturity
 
 
0.52%
Other Asset Types
 
 
1.02%

Fixed Interest Quality Profile

AAA
 
 
22.20%
AA
 
 
2.31%
A
 
 
25.84%
BBB
 
 
28.03%
Unknown Quality
 
 
16.58%
Cash and Equivalents
 
 
3.49%
Other Asset Types
 
 
1.54%

Top 10 Holdings

Stock % Weight Sector Country
1 KREDITANSTALT 4 010731 2.04% Bonds Germany
2 STANDARD CH 5.125 060634 1.72% Bonds United Kingdom
3 BARCLAYS 5.851% 210335 1.62% Bonds United Kingdom
4 RIO TINTO FIN 4 111229 1.57% Bonds United Kingdom
5 BNS 4.526278 150928 1.47% Bonds Canada
6 SSE PLC 3.74 PERP 1.46% Bonds United Kingdom
7 GOLDMAN SACHS 7.25 100428 1.43% Bonds United States
8 BPLN 6 PERP 1.39% Bonds United Kingdom
9 INT FINANCE CO 4.5 021028 1.38% Bonds United States
10 EUROPEAN 4% 150229 1.28% Bonds Luxembourg

Identification Codes

Sedol Code B11DPK9
Mex Code CGCHHH
Isin Code GB00B11DPK96
Citi Code KZ17

Fund Charges

Entry Charge 0.00%
Ongoing Charges 0.85%

Aims and Benchmark

Aims The Fund aims to provide quarterly income, while maintaining capital over the long term (at least 5 years). The Fund will invest at least 90% directly in shares of Sterling denominated investment grade corporate bonds (including floating rate notes), UK Government Gilts and fixed interest securities issued by supranational organisations.
Benchmark ML AA CB 7-10 Yrs
Benchmark Category Comparator
IA Sector £ Corporate Bond

Fund Background

Valuation frequency Daily
Valuation point 12:00
Fund type Unit Trust
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)
02 January 28 February
01 April 31 May
01 July 31 August
01 October 30 November

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 NatWest Trustee and Depositary Services Limited
Fund Administrator Investment Fund Services Limited
Fund Registrar Other
Fund Custodian RBC Investor Services

Group Details

Group name Church House Investments Limited
Group address Church House Investment Management York House Sherborne Dorset DT9 4JW
Group telephone 01935 382620
Dealing telephone -
Email enquiries@church-house.co.uk
Homepage www.church-house.co.uk
Fax number -

Dealing

Minimum Investment £5000
Minimum Top Up £5000
Minimum Regular Saving -
Settlement Period: Buy 4 days
Settlement Period: Sell 4 days
Pricing Basis Forward
Dealing Decimals 3