Fund Aims
The objective of the Trust is to achieve a high income through investing primarily in a variety of investment grade fixed interest instruments without geographical restriction and preference shares in UK and European community companies. The Manager intends to retain ISA qualifying status and suitability for pension funds.
Fund Manager
Tom Wells manager for:
1 years 10 months
Tom joined Smith & Williamson in September 2007 on the Graduate programme, becoming fund manager in July 2010 and was promoted to Partner in January 2015. Tom has been part of the Fixed Interest team, working with Ian Kenny, since January 2009 and became deputy fund manager on the Short-Dated Corporate Bond Fund, Medium-Dated Corporate Bond Fund and Fixed Interest Fund in October 2015. Tom achieved a first class degree in Financial Services with Economics and is a Fellow of the Chartered Institute for Securities & Investment.
Fund Overview
Price
Bid
116.10p
Offer
116.10p
(17/08/2022)
Annual Management Charge
1.00%
Top 10 Holdings
|
| Stock Name |
% Weight |
| EDF 7.375 Perp '35 FRN |
3.7%
|
| ENGIE 4.750 Perp '30 FRN |
3.0%
|
| SCHRODERS PLC 6.346%-FRN LT2 18/07/34 GBP |
2.7%
|
| ENEI 1.875 Perp '30 FRN |
2.6%
|
| ATHORA HOLDING LTD. 2023 6 5/8% 16/06/28 REG.S |
2.6%
|
| LA BANQUE PTLE.SA 2022 5.625%(F/R)09/28 132 |
2.5%
|
| TRATON FI.LUX SA 2024 5 5/8% 16/01/29 REG.S |
2.5%
|
| INTL.DS.SVS. 2023 5 1/4% 14/09/28 REG.S |
2.5%
|
| SSE PLC 2020 3.74%(F/R) PERP. REG.S |
2.3%
|
| INVESTEC PLC 2021 1.875%(F/R)07/28 REG.S |
2.3%
|
|
Total
|
26.8%
|
Asset Allocation
|
| Name |
% Weight |
|
International Bonds
|
62.71 |
|
UK Bonds
|
25.79 |
|
Other
|
10.68 |
|
Hedge Funds
|
0.73 |
|
Cash & Equivalents
|
0.09 |
Data accurate at: 30/09/2024
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.
Data accurate at: 30/09/2024
Asset Allocation
|
|
International Bonds
|
62.7%
|
|
|
UK Bonds
|
25.8%
|
|
|
Other
|
10.7%
|
|
|
Hedge Funds
|
0.7%
|
|
|
Cash & Equivalents
|
0.1%
|
Equity Sector Allocation
ICB Industries
ICB Supersectors
ICB Sectors
ICB Subsectors
ICB Industries
| Non-Classified |
|
99.2% |
| Alternative Trading Strategies |
|
0.7% |
| Cash and Equivalents |
|
<0.1% |
ICB Supersectors
| Non-Classified |
|
99.2% |
| Alternative Trading Strategies |
|
0.7% |
| Cash and Equivalents |
|
<0.1% |
ICB Sectors
| Non-Classified |
|
99.2% |
| Alternative Trading Strategies |
|
0.7% |
| Cash and Equivalents |
|
<0.1% |
ICB Subsectors
| Non-Classified |
|
99.2% |
| Alternative Trading Strategies |
|
0.7% |
| Cash and Equivalents |
|
<0.1% |
Interactive Sector Breakdown
Drill down to specific information by clicking the folders.
Regional
and Currency
Allocation
Fixed Interest Analysis
Fixed Interest Maturity Profile
Fixed Interest Quality Profile
Top 10 Holdings
|
|---|
| Stock name | % Weight | Country | Sector |
| 1 | EDF 7.375 Perp '35 FRN | 3.7 %
| France | Bonds |
| 2 | ENGIE 4.750 Perp '30 FRN | 3.0 %
| France | Bonds |
| 3 | SCHRODERS PLC 6.346%-FRN LT2 18/07/34 GBP | 2.7 %
| Non-Classified | Non-Classified |
| 4 | ENEI 1.875 Perp '30 FRN | 2.6 %
| Italy | Bonds |
| 5 | ATHORA HOLDING LTD. 2023 6 5/8% 16/06/28 REG.S | 2.6 %
| Ireland | Bonds |
| 6 | LA BANQUE PTLE.SA 2022 5.625%(F/R)09/28 132 | 2.5 %
| France | Bonds |
| 7 | TRATON FI.LUX SA 2024 5 5/8% 16/01/29 REG.S | 2.5 %
| Luxembourg | Bonds |
| 8 | INTL.DS.SVS. 2023 5 1/4% 14/09/28 REG.S | 2.5 %
| Non-Classified | Bonds |
| 9 | SSE PLC 2020 3.74%(F/R) PERP. REG.S | 2.3 %
| United Kingdom | Bonds |
| 10 | INVESTEC PLC 2021 1.875%(F/R)07/28 REG.S | 2.3 %
| Non-Classified | Non-Classified |
|
FL Dual Aspect Analysis
|
|---|
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Managed Funds | Property | Other | Cash & Equiv | Total |
| Cash and Equivalents | | | | | | | | | 0.1%
| 0.1%
|
| Bonds | | | 25.8%
| 62.7%
| | | | | | 88.5%
|
| Non-Classified | | | | | | | | 11.4%
| | 11.4%
|
| Total | | | 25.8%
| 62.7%
| | | | 11.4%
| 0.1%
| 100.0%
|
Distribution Details
Income Frequency
Quarterly
Distribution Payment Basis
Net
Charges
Discounted initial charge
1.000%
Net discounted AMC
1.000%
Annual Management Charge
1.00%
Distribution Dates
| Ex dividend date(s) |
Income payment date(s) |
| 01st May |
20th June |
| 01st February |
20th March |
| 01st November |
20th December |
| 01st August |
20th September |
Aims & Benchmark
Benchmark
FTSE UK Gilts Government (All)
IA sector
£ Corporate Bond
Aims
The objective of the Trust is to achieve a high income through investing primarily in a variety of investment grade fixed interest instruments without geographical restriction and preference shares in UK and European community companies. The Manager intends to retain ISA qualifying status and suitability for pension funds.
Fund Administration
Fund Trustee/Depository
The National Westminster Bank plc
Fund Administrator
Internal
Fund Custodian
Royal Bank of Canada
Fund Background
Valuation point
Daily 12:00
Fund currency
Pound Sterling
Fund domicile
United Kingdom
Group Details
Group name
Sanlam Investments
Group address
Sanlam FOUR
1 Ely Place
London
EC1N 6RY
Group telephone
020 7776 5700
Dealing
Settlement period: buy
4 days
Settlement period: sell
4 days
Data accurate at: 30/09/2024
Concentration Coefficient*
52
*A measure of portfolio concentration, e.g. where the fund coefficient is 25, this means the portfolio concentration is equivalent to holding 25 equally weighted stocks.
Risk Factors
Concentrated Portfolio
No
Investments Long Term
Yes
| Fund Specific Risks |
-
Charges to Capital - Part, or all of the periodic annual management fee(s) and expenses may be charged to
capital which could increase the potential for the capital value of your investment to be eroded. Your capital could
also decrease if income withdrawals exceed the growth rate of the fund(s).
-
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.
-
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.
|
Alternative Trading Strategies
United Kingdom
Non-Classified
France
United States
Ireland
Netherlands
Luxembourg
Italy
Denmark
Hong Kong
Germany
Spain
Cash and Equivalents