Royal London UK Government Bond Class M Acc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 30/11/19 to 30/11/20 |
30/11/20 to 30/11/21 |
30/11/21 to 30/11/22 |
30/11/22 to 30/11/23 |
30/11/23 to 30/11/24 |
|
|---|---|---|---|---|---|
| Fund | 5.7% | -1.5% | -20.6% | -5.4% | 5.2% |
| Sector | 5.7% | -1.6% | -22.3% | -5.7% | 3.6% |
| Rank | 8/28 | 19/29 | 10/30 | 12/32 | 2/32 |
| Quartile | 2 | 3 | 2 | 2 | 1 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/11/24 |
5 Years to 30/11/24 |
10 Years to 30/11/24 |
||
| Fund | -7.6% | -3.8% | 0.0% | |
| Sector | -8.8% | -4.6% | -0.1% | |
| Rank | 9/30 | 7/28 | 3/19 | |
| Quartile | 2 | 1 | 1 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| 4⅛% Treasury Gilt 2027 | 19.36 |
| ½% Treasury Gilt 2029 | 12.71 |
| 3½% Treasury Gilt 2025 | 7.81 |
| 1¾% Treasury Gilt 2037 | 6.83 |
| 1⅛ Treasury 2039 | 4.75 |
| 1¼ % Treasury Gilt 2041 | 3.71 |
| 1½% Treasury Gilt 2047 | 3.57 |
| 3¾% Treasury Gilt 2027 | 3.37 |
| 1⅝% Treasury Gilt 2054 | 3.19 |
| ⅜% Treasury Gilt 2026 | 3.12 |
| Total | 68.42 |
Fund Aims
The fund’s investment objective is to achieve a total return over the medium term (3–5 years) by investing at least 80% in UK government bonds, also known as gilts. The fund’s performance target is to outperform, after the deduction of charges, the FTSE Actuaries UK Conventional Gilts (All Stocks) Total Return GBP Index (the "Index") over rolling 5-year periods. For further information on the fund's index, please refer to the Prospectus.
Fund Manager
Craig Inches joined RLAM in January 2009 as a Fund Manager with the Fixed Interest Team. He is responsible for the management of government bond portfolios including index linked bonds, gilts and non UK sovereign debt. Craig joined RLAM after a successful 11 year career at Scottish Widows Investment Partnership. At SWIP, Craig built up a strong track record across a wide range of fixed interest funds, being appointed Fixed Income Investment Director in 2003. Craig has an MSc in Investment Analysis from Stirling University and a BSc (Hons) in Actuarial Mathematics and Statistics from Heriot-Watt University.
Ben Nicholl is an Assistant Fund Manager, responsible for quantitative bond modelling within RLAM’s Rates and Cash business. Ben focuses on the management of the UK government bond, Cash and Absolute return funds. Prior to the Rates and Cash team Ben worked within RLAM’s Far East Equity and Asset Allocation teams developing a wide range of market knowledge and investment techniques. Ben has a BSc (Hons) in Economics from the University of York and is a CFA Charterholder.
Fund Overview
| Mid (20/12/2024) | 102.70p |
| Distribution yield | 3.98% |
| Underlying yield | - |
| Fund size (31/01/2024) | £921.42m |
| Number of holdings | 57 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.30% |
| Launch date | 26/11/2012 |
Asset Allocation
| UK Gilts | 96.17% | |
| International Bonds | 1.80% | |
| UK Corporate Bonds | 1.63% | |
| Cash and Equivalents | 0.34% | |
| Other Assets | 0.07% |
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 client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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
| UK Gilts | 96.17% | |
| International Bonds | 1.80% | |
| UK Corporate Bonds | 1.63% | |
| Cash and Equivalents | 0.34% | |
| Other Assets | 0.07% |
Bond Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Bonds | 99.59% | - | - | - | |
| Cash and Equivalents | 0.34% | - | - | - | |
| Non-Classified | 0.07% | - | - | - | |
Regional Allocation
| UK | 97.79% | |
| Developed Europe - Excl UK | 0.73% | |
| Non-Classified | 0.55% | |
| Cash and Equivalents | 0.34% | |
| Australia & New Zealand | 0.32% | |
| North America | 0.28% |
Fixed Interest Currencies
| Pound Sterling | 99.27% | |
| Cash | 0.34% | |
| Australian Dollar | 0.32% | |
| Non-Fixed Interest Assets | 0.07% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| UK | 97.79% | - | |
United Kingdom
|
- | 97.79% | |
| Developed Europe - Excl UK | 0.73% | - | |
Finland
|
- | 0.27% | |
France
|
- | 0.23% | |
Netherlands
|
- | 0.23% | |
| Non-Classified | 0.55% | - | |
| Cash and Equivalents | 0.34% | - | |
| Australia & New Zealand | 0.32% | - | |
Australia
|
- | 0.32% | |
| North America | 0.28% | - | |
Canada
|
- | 0.28% | |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
54.68% |
| 5Yr - 10Yr Maturity |
|
4.34% |
| 10Yr - 15Yr Maturity |
|
13.95% |
| > 15Yr Maturity |
|
26.63% |
| Cash And Equivalents |
|
0.34% |
| Unknown Maturity |
|
0.07% |
Fixed Interest Quality Profile
| AAA |
|
0.55% |
| AA |
|
97.12% |
| Unknown Quality |
|
1.92% |
| Cash and Equivalents |
|
0.34% |
| Other Asset Types |
|
0.07% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | 4⅛% Treasury Gilt 2027 | 19.36% | Bonds | United Kingdom |
| 2 | ½% Treasury Gilt 2029 | 12.71% | Bonds | United Kingdom |
| 3 | 3½% Treasury Gilt 2025 | 7.81% | Bonds | United Kingdom |
| 4 | 1¾% Treasury Gilt 2037 | 6.83% | Bonds | United Kingdom |
| 5 | 1⅛ Treasury 2039 | 4.75% | Bonds | United Kingdom |
| 6 | 1¼ % Treasury Gilt 2041 | 3.71% | Bonds | United Kingdom |
| 7 | 1½% Treasury Gilt 2047 | 3.57% | Bonds | United Kingdom |
| 8 | 3¾% Treasury Gilt 2027 | 3.37% | Bonds | United Kingdom |
| 9 | 1⅝% Treasury Gilt 2054 | 3.19% | Bonds | United Kingdom |
| 10 | ⅜% Treasury Gilt 2026 | 3.12% | 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 investment professionals and is for information purposes only.
Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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 | B881TW5 |
| Mex Code | RLCBTG |
| Isin Code | GB00B881TW52 |
| Citi Code | GWUS |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.30% |
Aims and Benchmark
| Aims | The fund’s investment objective is to achieve a total return over the medium term (3–5 years) by investing at least 80% in UK government bonds, also known as gilts. The fund’s performance target is to outperform, after the deduction of charges, the FTSE Actuaries UK Conventional Gilts (All Stocks) Total Return GBP Index (the "Index") over rolling 5-year periods. For further information on the fund's index, please refer to the Prospectus. |
| Benchmark | FTSE® Actuaries All Stocks Gilt index |
| Benchmark Category | - |
| IA Sector | UK Gilt |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | OEIC |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Biannually |
| Distribution Type | Interest |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 May | 30 June |
| 01 November | 31 December |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | HSBC Bank plc |
| Fund Administrator | HSBC Bank plc |
| Fund Registrar | DST Financial Services Europe |
| Fund Custodian | HSBC Bank plc |
Group Details
| Group name | Royal London Unit Trust Managers Limited |
| Group address | 55 Gracechurch Street London EC3V 0UF |
| Group telephone | 020 32725408 |
| Dealing telephone | 08456 04 04 04 |
| platforms@rlam.co.uk | |
| Homepage | www.rlam.co.uk |
| Fax number | - |
Dealing
| Minimum Investment | £100000 |
| Minimum Top Up | £1000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 3 days |
| Settlement Period: Sell | 3 days |
| Pricing Basis | Forward |
| Dealing Decimals | 4 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | 1.40 |
| Beta | 0.97 |
| Sharpe | -0.01 |
| Standard Deviation | 10.25 |
| Info Ratio | 1.71 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | Yes |
| Emerging Markets | No |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | No |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | 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).
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.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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 client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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.