Schroder Schroder Investment Fund Company - Schroder Strategic Credit Fund Z Income Class Z 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 | 4.4% | 3.9% | -7.5% | 9.2% | 10.6% |
| Sector | 6.1% | 1.7% | -10.6% | 3.5% | 8.9% |
| Rank | 47/70 | 14/75 | 22/79 | 4/85 | 19/88 |
| Quartile | 3 | 1 | 2 | 1 | 1 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/11/24 |
5 Years to 30/11/24 |
10 Years to 30/11/24 |
||
| Fund | 3.8% | 3.9% | 3.7% | |
| Sector | 0.3% | 1.7% | 2.7% | |
| Rank | 5/79 | 9/70 | 10/51 | |
| Quartile | 1 | 1 | 1 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| United Kingdom Treasury Bill | 3.64 |
| United Kingdom Treasury Bill | 2.78 |
| United Kingdom Treasury Bill | 1.37 |
| BP Capital Markets PLC | 1.26 |
| Hiscox Ltd | 1.24 |
| UGI International LLC | 1.11 |
| Ford Motor Credit Co LLC | 1.07 |
| United Kingdom Treasury Bill | 1.04 |
| Gruenenthal GmbH | 0.95 |
| Merlin Entertainments Ltd | 0.92 |
| Total | 15.38 |
Fund Aims
The fund invests in bonds issued by companies in the UK and Europe, with the flexibility to exploit opportunities across the fixed income spectrum to build a diversified portfolio of bonds. This will include bonds that have been awarded lower ratings from credit agencies, or no ratings at all. The fund also has the flexibility to invest outside Europe, and in bonds issued by governments or government agencies. The fund has no set target in respect of any country or sector but seeks to focus on investments which offer the most attractive returns. Investments in bonds issued in a foreign currency will be hedged to reduce the effects of exchange rate fluctuations between that currency and the fund's base currency, pounds sterling. The fund may also invest in other financial instruments and hold cash on deposit. Derivatives may be used to achieve the investment objective and to reduce risk or manage the fund more efficiently. The fund may use leverage and take indirect short positions.
Fund Manager
Peter Harvey joined Cazenove Capital in 2005 and is Head of Credit and manager of the Cazenove Strategic Debt Fund and the Morningstar OBSR Bronze rated Cazenove Strategic Bond Fund. Peter joined from F&C Management Ltd where he had been Head of UK Credit. He is a Director of Cazenove Capital and has 22 years’ experience analysing and investing in corporate debt. Peter graduated with a 2.1 degree from the University of St Andrews.
Fund Overview
| Mid (20/12/2024) | 73.10p |
| Distribution yield | 6.14% |
| Underlying yield | - |
| Fund size (30/09/2024) | £858.07m |
| Number of holdings | 410 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.77% |
| Launch date | 04/04/2006 |
Asset Allocation
| International Bonds | 56.41% | |
| UK Corporate Bonds | 36.54% | |
| Alternative Trading Strategies | 1.08% | |
| Cash and Equivalents | 0.70% | |
| Other Assets | 5.27% |
Commentary
Not Applicable
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
| International Bonds | 56.41% | |
| UK Corporate Bonds | 36.54% | |
| Alternative Trading Strategies | 1.08% | |
| Cash and Equivalents | 0.70% | |
| Other Assets | 5.27% |
Bond Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Bonds | 92.95% | - | - | - | |
| Non-Classified | 5.27% | - | - | - | |
| Alternative Trading Strategies | 1.08% | - | - | - | |
| Alternative Trading Strategies | - | 1.08% | - | - | |
| Alternative Trading Strategies | - | - | 1.08% | - | |
| Alternative Trading Strategies | - | - | - | 1.08% | |
| Cash and Equivalents | 0.70% | - | - | - | |
Regional Allocation
| Developed Europe - Excl UK | 37.71% | |
| UK | 36.54% | |
| North America | 11.10% | |
| Non-Classified | 10.86% | |
| South & Central America | 0.73% | |
| Cash and Equivalents | 0.70% | |
| Middle East & Africa | 0.66% | |
| Emerging Europe | 0.63% | |
| Developed Asia | 0.50% | |
| Other Regions | 0.58% |
Fixed Interest Currencies
| Pound Sterling | 47.72% | |
| Euro | 28.82% | |
| US Dollar | 16.26% | |
| Non-Fixed Interest Assets | 6.72% | |
| Cash | 0.34% | |
| Swiss Franc | 0.14% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Developed Europe - Excl UK | 37.71% | - | |
Germany
|
- | 10.69% | |
France
|
- | 5.19% | |
Luxembourg
|
- | 4.96% | |
Italy
|
- | 4.92% | |
Netherlands
|
- | 3.08% | |
Ireland
|
- | 1.74% | |
Spain
|
- | 1.48% | |
Belgium
|
- | 1.26% | |
Switzerland
|
- | 1.25% | |
Austria
|
- | 1.23% | |
Sweden
|
- | 0.67% | |
Finland
|
- | 0.58% | |
Denmark
|
- | 0.46% | |
Portugal
|
- | 0.18% | |
| UK | 36.54% | - | |
United Kingdom
|
- | 36.54% | |
| North America | 11.10% | - | |
United States
|
- | 10.65% | |
Canada
|
- | 0.45% | |
| Non-Classified | 10.86% | - | |
| South & Central America | 0.73% | - | |
Mexico
|
- | 0.67% | |
Brazil
|
- | 0.06% | |
| Cash and Equivalents | 0.70% | - | |
| Middle East & Africa | 0.66% | - | |
Israel
|
- | 0.66% | |
| Emerging Europe | 0.63% | - | |
Poland
|
- | 0.51% | |
Greece
|
- | 0.10% | |
Czech Republic
|
- | 0.02% | |
| Developed Asia | 0.50% | - | |
Singapore
|
- | 0.50% | |
| Australia & New Zealand | 0.38% | - | |
Australia
|
- | 0.38% | |
| Japan | 0.20% | - | |
Japan
|
- | 0.20% | |
Property Regions
| BB | 25.47% | |
| B | 20.96% | |
| BBB | 17.14% | |
| AA | 11.11% | |
| A | 10.51% | |
| NR | 10.15% | |
| Other | 16.47% |
Asset Allocation
| Other | 38.11% | |
| Banking - SENR | 19.07% | |
| Healthcare | 9.42% | |
| Telecommunications | 7.76% | |
| Services | 6.94% | |
| Basic Industry | 6.51% | |
| Other Assets | 24.00% |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
69.56% |
| 5Yr - 10Yr Maturity |
|
12.94% |
| 10Yr - 15Yr Maturity |
|
0.16% |
| > 15Yr Maturity |
|
10.29% |
| Cash And Equivalents |
|
0.70% |
| Unknown Maturity |
|
5.27% |
| Other Asset Types |
|
1.08% |
Fixed Interest Quality Profile
| AAA |
|
2.02% |
| AA |
|
0.57% |
| A |
|
5.77% |
| BBB |
|
12.92% |
| Sub-Investment Grade |
|
22.76% |
| Unknown Quality |
|
48.91% |
| Cash and Equivalents |
|
0.70% |
| Other Asset Types |
|
6.35% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | United Kingdom Treasury Bill | 3.64% | Bonds | United Kingdom |
| 2 | United Kingdom Treasury Bill | 2.78% | Bonds | United Kingdom |
| 3 | United Kingdom Treasury Bill | 1.37% | Bonds | United Kingdom |
| 4 | BP Capital Markets PLC | 1.26% | Bonds | United Kingdom |
| 5 | Hiscox Ltd | 1.24% | Bonds | Germany |
| 6 | UGI International LLC | 1.11% | Bonds | United States |
| 7 | Ford Motor Credit Co LLC | 1.07% | Bonds | United States |
| 8 | United Kingdom Treasury Bill | 1.04% | Bonds | United Kingdom |
| 9 | Gruenenthal GmbH | 0.95% | Bonds | Germany |
| 10 | Merlin Entertainments Ltd | 0.92% | 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 | BJZ2ZC0 |
| Mex Code | - |
| Isin Code | GB00BJZ2ZC09 |
| Citi Code | K84E |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.77% |
Aims and Benchmark
| Aims | The fund invests in bonds issued by companies in the UK and Europe, with the flexibility to exploit opportunities across the fixed income spectrum to build a diversified portfolio of bonds. This will include bonds that have been awarded lower ratings from credit agencies, or no ratings at all. The fund also has the flexibility to invest outside Europe, and in bonds issued by governments or government agencies. The fund has no set target in respect of any country or sector but seeks to focus on investments which offer the most attractive returns. Investments in bonds issued in a foreign currency will be hedged to reduce the effects of exchange rate fluctuations between that currency and the fund's base currency, pounds sterling. The fund may also invest in other financial instruments and hold cash on deposit. Derivatives may be used to achieve the investment objective and to reduce risk or manage the fund more efficiently. The fund may use leverage and take indirect short positions. |
| Benchmark | ICE BofA Sterling 3 Month Government Bill Index |
| Benchmark Category | - |
| IA Sector | £ Strategic Bond |
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 January | 28 February |
| 01 July | 31 August |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | J.P. Morgan Trustee and Depositary Company Limited |
| Fund Administrator | J.P. Morgan Trustee and Depositary Company Limited |
| Fund Registrar | J.P. Morgan Trustee and Depositary Company Limited |
| Fund Custodian | J.P. Morgan Trustee and Depositary Company Limited |
Group Details
| Group name | Schroder Unit Trusts Limited |
| Group address | 1 London Wall Place, London, EC2Y 5AU United Kingdom |
| Group telephone | 0800 718 777 |
| Dealing telephone | 0800 718 788 |
| investorservices@schroders.com | |
| Homepage | www.schroders.co.uk |
| Fax number | 0870 043 4080 |
Dealing
| Minimum Investment | £1000000 |
| Minimum Top Up | £10000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 4 days |
| Settlement Period: Sell | 4 days |
| Pricing Basis | Forward |
| Dealing Decimals | 2 |
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 | 4.12 |
| Beta | 0.76 |
| Sharpe | 0.05 |
| Standard Deviation | 5.99 |
| Info Ratio | 1.31 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | Yes |
| Emerging Markets | Yes |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | Yes |
| Sector Specific | No |
| Geared Investments | Yes |
| 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 | Yes |
| Umbrella Liabilities | Yes |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | Yes |
| 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).
Emerging Markets
The fund invests in emerging markets. Generally less well regulated than the UK. There is an increased chance of political and economic instability with less reliable custody, dealing and settlement arrangements. The market(s) can be less liquid. If a fund investing in markets is affected by currency exchange rates, the investment could either increase or decrease. These investments therefore carry more risk.
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.
Geared Investments
The fund focuses on geared investments. Funds which focus on geared investments such as warrants or options carry a higher degree of risk than other equity investments because of the risk of the underlying investments. It is possible that the fund may suffer sudden and large falls in value so that the short fall on cancellation, or the loss of the realisation on the investment at any time after the investor has bought the contract, could be very high and could even equal the amount invested, in which case you would get nothing back.
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.
Income Eroding Capital Growth
The fund focuses on providing an income, which can reduce the prospects for capital growth, and in some cases the capital value may fall.
Umbrella Liabilities
If the liabilities of one fund were to exceed its assets, the other funds within the scheme might have to transfer across money to cover the liabilities.
Solvency of Bond Issuers
If the fund you choose invests in bonds there is a risk that the issuer may default, resulting in a loss to the portfolio.
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.