Investment Objective The Sub-fund aims to produce a combination of income and capital growth.
Investment Policy The Sub-fund will invest at least 80% in sub-investment grade bonds and will be actively managed.
To the extent that the Sub-fund is not fully invested in sub-investment grade bonds, the Sub-fund may also invest in other bonds, shares, other transferable securities, money market instruments, deposits and cash.
The bonds in which the Sub-fund invests will be denominated in sterling or denominated in other currencies and hedged back to sterling.
The Sub-fund may use derivatives and currency forwards for both investment purposes and in the management of risk.
Fund Manager
Faisal Islammanager
for
0 years
and 4 months
Faisal is an investment manager in the Credit Team, co-managing our High Yield Bond Strategy. Before joining Baillie Gifford in 2018, he worked for four years at PwC where he qualified as a chartered accountant in corporate finance, before moving to Aberdeen Standard Investments in 2016 as a high yield credit analyst. Faisal graduated BSc in Economics from the London School of Economics and Political Science in 2011 and is a CFA Charterholder.
Arthur Milsonmanager
for
1 years
and 6 months
Arthur Milson is an investment manager in the Credit Team. He is co-manager of our high yield bond funds and a member of the High Yield Portfolio Group. Before joining Baillie Gifford in 2022, Arthur worked for abrdn/Standard Life Investments for 16 years, where he was responsible for managing a number of high yield funds. Arthur graduated BSc Biological Sciences from The University of Edinburgh in 1992, has a postgraduate diploma in Commerce from The University of Wollongong and is a Chartered Accountant.
Fund Overview
Mid (26/07/2024)
116.50p
Distribution yield
7.00%
Underlying yield
6.60%
Fund size (31/05/2024)
£403.79m
Number of holdings
132
Entry Charge
0.00%
Ongoing Charges
0.37%
Launch date
28/02/2002
Asset Allocation
International Bonds
83.34%
UK Corporate Bonds
15.03%
Cash and Equivalents
0.43%
UK Equities
0.31%
Alternative Trading Strategies
0.14%
Other Assets
0.76%
Portfolio data accurate as at: 31/05/24
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 investment can go down as well as up so you might get back less than you put in. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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.
Portfolio data accurate as at:
Asset Allocation
International Bonds
83.34%
UK Corporate Bonds
15.03%
Cash and Equivalents
0.43%
UK Equities
0.31%
Alternative Trading Strategies
0.14%
Other Assets
0.76%
Bond Sector Breakdown
Expand allCollapse all
Industry
Supersector
Sector
Subsector
Bonds
98.37%
-
-
-
Non-Classified
0.76%
-
-
-
Cash and Equivalents
0.43%
-
-
-
Financials
0.31%
-
-
-
Banks
-
0.31%
-
-
Banks
-
-
0.31%
-
Banks
-
-
-
0.31%
Alternative Trading Strategies
0.14%
-
-
-
Alternative Trading Strategies
-
0.14%
-
-
Alternative Trading Strategies
-
-
0.14%
-
Alternative Trading Strategies
-
-
-
0.14%
Regional Allocation
Developed Europe - Excl UK
42.06%
North America
34.37%
UK
15.34%
Non-Classified
5.84%
Emerging Europe
1.53%
Developed Asia
0.44%
Cash and Equivalents
0.43%
Fixed Interest Currencies
US Dollar
42.27%
Euro
39.69%
Pound Sterling
16.41%
Non-Fixed Interest Assets
1.20%
Cash
0.43%
Regional Breakdown
Expand allCollapse all
Region
Country
Developed Europe - Excl UK
42.06%
-
France
-
9.34%
Netherlands
-
8.74%
Luxembourg
-
6.37%
Germany
-
6.29%
Italy
-
5.56%
Ireland
-
2.62%
Spain
-
2.46%
Austria
-
0.67%
North America
34.37%
-
United States
-
32.96%
Canada
-
1.41%
UK
15.34%
-
United Kingdom
-
15.34%
Non-Classified
5.84%
-
Emerging Europe
1.53%
-
Romania
-
1.19%
Poland
-
0.34%
Developed Asia
0.44%
-
Singapore
-
0.44%
Cash and Equivalents
0.43%
-
Fixed Interest Maturity Profile
< 5Yr Maturity
57.09%
5Yr - 10Yr Maturity
31.14%
> 15Yr Maturity
10.14%
Cash And Equivalents
0.43%
Unknown Maturity
0.76%
Other Asset Types
0.45%
Fixed Interest Quality Profile
BBB
2.59%
Sub-Investment Grade
48.57%
Unknown Quality
47.21%
Cash and Equivalents
0.43%
Other Asset Types
1.20%
Top 10 Holdings
Stock
% Weight
Sector
Country
1
UK T Bill 19/08/2024
3.01%
Bonds
United Kingdom
2
Aggreko 6.125% 2026 (144A)
1.81%
Bonds
Luxembourg
3
EDF 6% 2026 Perp
1.70%
Bonds
France
4
Barclays 7.125% 2025 Perp AT1
1.64%
Bonds
United Kingdom
5
Teva Pharma Ind 7.375% 2029
1.54%
Bonds
Non-Classified
6
Chart Industries 7.5% 2030 (144A)
1.48%
Bonds
United States
7
Brightline East 11% 2030 (144A)
1.45%
Bonds
United States
8
IMA FRN 2029
1.44%
Bonds
Non-Classified
9
Italmatch Chemicals 10% 2028
1.35%
Bonds
Italy
10
The House of HR 9% 2029
1.29%
Bonds
Netherlands
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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
3081671
Mex Code
BGHYCB
Isin Code
GB0030816713
Citi Code
BE79
Fund Charges
Entry Charge
0.00%
Ongoing Charges
0.37%
Aims and Benchmark
Aims
Investment Objective The Sub-fund aims to produce a combination of income and capital growth.
Investment Policy The Sub-fund will invest at least 80% in sub-investment grade bonds and will be actively managed.
To the extent that the Sub-fund is not fully invested in sub-investment grade bonds, the Sub-fund may also invest in other bonds, shares, other transferable securities, money market instruments, deposits and cash.
The bonds in which the Sub-fund invests will be denominated in sterling or denominated in other currencies and hedged back to sterling.
The Sub-fund may use derivatives and currency forwards for both investment purposes and in the management of risk.
Benchmark
Investment Association Sterling High Yield sector average
Benchmark Category
-
IA Sector
£ High Yield
Fund Background
Valuation frequency
Daily
Valuation point
10:00
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
Quarterly
Distribution Type
Interest
Distribution Payment Basis
Net
Distribution Dates
Ex dividend date(s)
Income payment date(s)
31 December
28 February
31 March
31 May
30 June
31 August
30 September
30 November
Ratings
FE Crown
Effect of Deductions
Assuming a growth rate of 5.00%
Assuming a growth rate of 7.00%
4.20%
-
Fund Administration
Fund Trustee/Depository
NatWest Trustee and Depositary Services Limited
Fund Administrator
Internal
Fund Registrar
Internal
Fund Custodian
Bank of New York Mellon Trust & Depositary Co. Ltd
Group Details
Group name
Baillie Gifford & Co
Group address
Calton Square
1 Greenside Row
Edinburgh
EH1 3AN
Group telephone
0800 917 4752
Dealing telephone
0800 917 4750
Email
trustenquiries@bailliegifford.com
Homepage
www.bailliegifford.com/intermediaries
Fax number
0131 275 3955
Dealing
Minimum Investment
£1000
Minimum Top Up
£0
Minimum Regular Saving
-
Settlement Period: Buy
3 days
Settlement Period: Sell
3 days
Pricing Basis
Forward
Dealing Decimals
-
Important Information
Ongoing charges may vary in the future and may be higher than they are now. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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 investment can go down as well as up so you might get back less than you put in. This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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.