Fact sheet: Rathbone Strategic Bond

Fund information
Fund name
Rathbone Strategic Bond Inst Inc
Fund manager company
Rathbone Unit Trust Mgmt Ltd
Fund type
Unit Trust
Fund managers
  • Noelle Cazalissince 01/01/2016
  • Bryn Jonessince 02/10/2011
  • David Coombssince 02/10/2011
Fund objective
The objective of the fund is to focus on achieving a total return comprised of a regular above average income, coupled with medium to longer term capital growth from a diversified portfolio of predominantly Sterling denominated (or hedged back to Sterling) fixed interest and other bond instruments, including gilt edged and other sovereign stocks, corporate bonds, convertibles, preference shares,permanent interest bearing shares. Typically, approximately 50% of the value of the fund will be exposed to such securities through investment in other collective investment schemes (funds). During extreme market conditions the Manager may decide to safeguard the interests of investors by moving the entire portfolio into gilt edged stocks.
Benchmark
  • No Specified Index
Investment style
Total Return,Strategic Investment
Investment method
Fixed Interest
Quick stats
1 Year return
7.5%
1 Year rank in sector
14/77
Sector
UT Sterling Strategic Bond
Yield
3.1%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.86%
Fund size
£68m (£57m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
16
Bid price
113.25
Offer price
114.02
Top in this sector
Fund name1 Year
Fidelity I Stg Cr + Bd11.8%
Natixis LS Stgc Inc11.7%
Fidelity UK Inv Grd Lg Cr11.1%
Fidelity Pre-Retirmnt Bd9.9%
Legg Mason IFBrwiGlInOp9.7%
...more in UT Sterling Strategic Bond

Performance snapshot

Holdings snapshot

  • UK46.8%
    International39.8%
    Global Emerging Markets9.6%
    Money Market3.7%
  • BBB34.6%
    BB19.6%
    Non-Rated17.8%
    AA13%
    A6.8%
  • UK Corporate Fixed Interest32%
    Global High Yield Fixed Interest24.5%
    Others11.9%
    UK Gilts11.4%
    Global Investment Grade Fixed Interest9%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.5%-0.3%4.7%7.5%14.2%32.6%
Sector-1%-3%2.4%5.3%13.1%31.8%
Rank within sector27 / 8317 / 824 / 8214 / 7730 / 7132 / 60
Quartile2nd1st1st1st2nd3rd
Calendar performance
 YTD - 20162015201420132012
Fund7.9%-0.1%5.8%3.5%11.7%
Sector6%-0.3%6.8%2.6%12.6%
Rank within sector20 / 7740 / 7440 / 7231 / 6442 / 61
Quartile2nd3rd3rd2nd3rd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
1.45
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.75
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.34
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
2.67
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
1.21
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.4
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.9
Price movement
52 week high114.73
52 week low106.58
Current bid price113.25
Current offer price114.02
Current mid price-
Region
1UK46.81%
2International39.82%
3Global Emerging Markets9.64%
4Money Market3.73%
Industry sector
1BBB34.56%
2BB19.61%
3Non-Rated17.76%
4AA13.04%
5A6.82%
6Money Market3.78%
7AAA3.41%
8B1.02%
Asset type
1UK Corporate Fixed Interest31.98%
2Global High Yield Fixed Interest24.46%
3Others11.94%
4UK Gilts11.43%
5Global Investment Grade Fixed Interest9.04%
6Global Government Fixed Interest4.02%
7Cash & Cash Equivalents3.73%
8UK Index-Linked3.4%
Individual holdings
1M&G GLOBAL MACRO BOND FUND4.56%
2ASHMORE SICAV EMERGING MARKETS TOTAL RETURN FUND4.41%
3ECM DYNAMIC CREDIT FUND3.59%
4NB GLOBAL FLOATING RATE INCOME C GBP3.39%
5ALGEBRIS MACRO CREDIT FUND3.29%
6JP MORGAN INCOME OPPORTUNITIES FUND2.76%
7JULIUS BAER EMERGING BOND FUND2.68%
8SQN ASSET FINANCE INCOME FUND2.31%
9NEUBERGER BERMAN SHORT DURATION BOND FUND2.28%
Management
Fund manager group
Rathbone Unit Trust Management
Fund manager company
Rathbone Unit Trust Mgmt Ltd
Fund type
Unit Trust
Fund objective
The objective of the fund is to focus on achieving a total return comprised of a regular above average income, coupled with medium to longer term capital growth from a diversified portfolio of predominantly Sterling denominated (or hedged back to Sterling) fixed interest and other bond instruments, including gilt edged and other sovereign stocks, corporate bonds, convertibles, preference shares,permanent interest bearing shares. Typically, approximately 50% of the value of the fund will be exposed to such securities through investment in other collective investment schemes (funds). During extreme market conditions the Manager may decide to safeguard the interests of investors by moving the entire portfolio into gilt edged stocks.
Benchmark
  • No Specified Index
Investment style
Total Return,Strategic Investment
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Noelle Cazalis01/01/2016Noelle is the assistant fund manager within the Fixed Income Team, assisting Bryn Jones on the Rathbone Ethical Bond Fund, and both Bryn Jones and David Coombs on the Rathbone Strategic Bond Fund and Rathbone Multi-Asset Portfolios, with direct bond selection. Noelle joined Rathbones in July 2011 as a credit analyst working alongside Bryn Jones, providing in-depth credit analysis for Rathbones’ fixed income funds and the Rathbone’s Fixed Income Committee. Having spent some time as a financial analyst for the Bank of France in Paris, Noelle spent five months in Cambodia, where she undertook due diligence on the Cambodian banking sector on behalf of the French Embassy. Noelle has achieved two masters’ degrees with distinction in 2010, from the University of Montesquieu in Bordeaux - a Magistere of International Finance, and a Masters in Banking, Finance and Financial Assets Trading. She holds the Investment Management Certificate and is a CFA (Chartered Financial Analyst) charter-holder.
Bryn Jones02/10/2011Bryn is the Head of Fixed Income for Rathbones, and is lead manager on the Rathbone Ethical Bond Fund and the Rathbone Strategic Bond Fund. He joined Rathbones in November 2004 from Merrill Lynch, where he managed $2 billion of fixed income assets. Bryn is a member of the Rathbone Strategic Asset Allocation Committee, Non-Executive Chairman of Rathbones' Fixed Income Committee, and an adviser to the Rathbone Banking Committee. He is a WMA representative for the HMT DMO’s (Her Majesty’s Treasury - Debt Management Office) Gilt market consultation process. He has been a guest speaker at the Euromoney Bond Conference in London, and at the Euromoney Bank Capital Conference in Amsterdam. Bryn appears regularly on CNBC and Bloomberg TV, and is also a co-opted Trustee for the Trust for London. He also sits on the IA Fixed Income Committee. Bryn graduated from Birmingham University with a Bachelor of Arts degree in Geography in 1995. Bryn’s Rathbone Ethical Bond Fund was awarded Best Sterling Corporate Bond Fund at the Morningstar UK Fund Awards 2014; Best SRI Bond Fund at the Money Observer 2015 Fund Awards and a ‘Highly Commended’ at the 2015 Moneywise Awards. His Rathbone Strategic Bond fund was voted best Multi-Asset Fixed Income Strategy at the Investment Week Specialist Investment Awards 2015. Bryn has also been appointed as one of a select number of ethical investors to the UKSIF Impact Investing Reference Group.
David Coombs02/10/2011David Coombs is head of multi-asset investments at Rathbone Unit Trust Management and joined Rathbones in 2007. He is a member of the Investment Executive Committee as well as the Strategic Asset Allocation Committee. He is the lead manager for the Rathbone Multi-Asset Portfolios and the offshore equivalents domiciled in Jersey. He is also co-manager for the Rathbone Strategic Bond Fund. He previously worked at Barings for almost 20 years where he managed institutional and private clients via pooled vehicles and segregated accounts. He joined Barings in 1988 from Hambros, where he managed multimanager portfolios for private clients. He is an Associate of the Chartered Institute of Financial Services.
Compliance
Distributor Status, IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Rathbone Strategic Bond Inst Acc
Initial charge-
Annual charge0.5%
Min single investment£1,000
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)0.86%
Total expense ratio (TER)1.28%
Bid price133.6
Offer price134.39
Mid price-
CurrencyGBX
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeB01D
Rathbone Strategic Bond Inst Inc
Initial charge-
Annual charge0.5%
Min single investment£1,000
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)0.86%
Total expense ratio (TER)1.28%
Bid price113.25
Offer price114.02
Mid price-
CurrencyGBX
Price updated07/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeB01C
Data provided by

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