Royal London Sterling Extra Yield Bond

(Class A Income [GBP])

 

Performance

Cumulative Performance (%)

3m 6m 1Yr 3Yr 5Yr
Fund 2.98% 5.06% 10.26% 36.82% 41.26%
Sector 2.00% 4.05% 5.13% 23.72% 10.53%
Rank 9/89 14/89 2/86 5/80 1/70
Quartile 1 1 1 1 1

Discrete Performance (%) - to last month end

09/20 to 09/21 09/21 to 09/22 09/22 to 09/23 09/23 to 09/24 09/24 to 09/25
Fund 13.89% -9.22% 8.66% 13.77% 10.73%
Sector 4.63% -14.49% 4.94% 11.78% 5.19%
Rank 3/70 16/74 14/80 20/82 2/86
Quartile 1 1 1 1 1

Fund Aims

The investment objective of the fund is to achieve a high level of income. The fund seeks to achieve a gross redemption yield (GRY) of 1.25 times the gross redemption yield of the FTSE Actuaries British Government 15 Year index.

Fund Managers

Eric Holt manager for: 22 years 6 months

Eric Holt has extensive knowledge of UK investment grade and high yield corporate bonds, gained over a career spanning more than 30 years. He has overall responsibility for RLAM’s credit research process, as well as managing the Sterling Extra Yield Bond Fund and the Ethical Bond Fund. He joined RLAM in 1999 following RLAM's acquisition of Refuge Assurance’s investment team, where he had worked for the previous 20 years. Eric is a graduate of Nottingham University with a degree in mathematics and is an associate of the Institute of Actuaries.

Rachid Semaoune manager for: 6 years 9 months

Rachid Semaoune joined RLAM in February 2015 as a Credit Fund Manager within the Fixed Income Team.  Rachid joined from UBS Asset Management where he spent three years managing investment grade credit portfolios.  Prior to this he was a deputy credit fund manager at Old Mutual Asset Management.  Rachid began his investment career in 2001 at Gulf International Bank where he worked as a credit analyst and deputy fund manager. Rachid studied for a PhD in Physics at Imperial College London and holds a Postgraduate Degree in Laser Physics from the Université Paris 13.


Fund Overview

Price

Bid £1.11

Offer £1.11(03/10/2025)

Distribution yield
7.42%
£1717.0m
Number of holdings
175
Initial charge
0.00%
Annual Management Charge
0.75%
Ongoing Charges
0.84%

Top 10 Holdings
Stock Name % Weight
ELECTRICITE DE FRANCE SA JR SUBORDINA REGS 12/99 VAR 2.8%
METROCENTRE FINANCE SR SECURED 12/28 8.75 2.2%
SANTANDER UK PLC JR SUBORDINA 10/49 10.0625 2.1%
Abbey National 10 3/8% Non Cum Stlg Pref GBP1 2.1%
CO OP GRP HLDS COMPANY GUAR REGS 07/26 VAR 2.1%
CENTRICA PLC SUBORDINATED REGS 05/55 VAR 1.9%
PHOENIX GRP HLD PLC JR SUBORDINA REGS 12/49 VAR 1.7%
M+G PLC SUBORDINATED REGS 12/63 VAR 1.7%
CANARY WHARF GROUP SR SECURED REGS 04/28 3.375 1.6%
NATIONWIDE BLDG SOCIETY JR SUBORDINA REGS 12/99 VAR 1.5%
Total 19.7%

Asset Allocation
Name % Weight
UK Bonds 60.51
Hedge Funds 21.12
International Bonds 11.69
UK Equities 3.49
International Equities 1.26
UK Gilt 1.09
Other 0.84


Data accurate at: 31/08/2025

Performance figures show total return with no initial charge and net income reinvested, except for Offshore funds which show gross income reinvested. Cumulative performance figures are calculated from the previous working day. Discrete performance figures are calculated from the previous month end.