High Yield Bond Fund
Unit-Linked Life Insurance
High Yield Bond Fund
Fund codeKT
Fund codeKT
Fund aim
Fund characteristics
Fund facts
Fund size | £3,346.8m |
Base currency | GBP |
Domicile | United Kingdom |
Share class launch | 01/11/06 |
Modified duration | 3.96 years |
Gross redemption yield (unhedged) | 8.58% |
Benchmark
ICE BofA BB-B Global High Yield Non Financials 2% Constrained Total Return Index (GBP Hedged).
An ICE BofA Index
Performance
Please note the benchmark used in the performance calculations has been updated from December 2023 to reflect the default calculation methodology of the benchmark provider which now includes estimated transaction costs with effect from 30 June 2022.
Please note the benchmark used in the performance calculations has been updated from December 2023 to reflect the default calculation methodology of the benchmark provider which now includes estimated transaction costs with effect from 30 June 2022.
Please note the benchmark used in the performance calculations has been updated from December 2023 to reflect the default calculation methodology of the benchmark provider which now includes estimated transaction costs with effect from 30 June 2022.
Portfolio breakdown
As at 31 Dec 2023
Top 10 issuers | 11.9% |
---|---|
Rest of portfolio | 88.1% |
No. of issuers | 495 |
---|
Top 10 issuers (%)
Petroleos Mexicanos | 2.1 |
ARD Holdings | 1.4 |
Carnival | 1.4 |
Charter Communications | 1.3 |
Vmed O2 UK | 1.2 |
INEOS | 1.0 |
Community Health Systems | 1.0 |
Iliad HoldingSU | 0.9 |
Wynn Resorts | 0.8 |
Venture Global LNG | 0.8 |
Currency (%)
USD | 73.8 |
EUR | 19.2 |
GBP | 5.5 |
Other | 0.0 |
Top 10 issuers | 11.9% |
---|---|
Rest of portfolio | 88.1% |
No. of issuers | 495 |
---|
Top 10 issuers (%)
Petroleos Mexicanos | 2.1 |
ARD Holdings | 1.4 |
Carnival | 1.4 |
Charter Communications | 1.3 |
Vmed O2 UK | 1.2 |
INEOS | 1.0 |
Community Health Systems | 1.0 |
Iliad HoldingSU | 0.9 |
Wynn Resorts | 0.8 |
Venture Global LNG | 0.8 |
Currency (%)
USD | 73.8 |
EUR | 19.2 |
GBP | 5.5 |
Other | 0.0 |
Credit rating (%)
Fund | Benchmark | Relative | ||
---|---|---|---|---|
BBB | 4.8 | - | 4.8 | |
BB | 41.1 | 59.3 | -18.2 | |
B | 42.9 | 40.4 | 2.5 | |
CCC | 4.6 | - | 4.6 | |
NR | 0.3 | - | 0.3 | |
Cash | 2.9 | 0.2 | 2.7 | |
Split rated | 3.3 | - | 3.3 |
Top sector over/underweights (%)
Fund | Benchmark | Relative | ||
---|---|---|---|---|
Other | 37.8 | 35.3 | 2.6 | |
Energy/E&P | 16.7 | 14.4 | 2.3 | |
Media | 5.5 | 3.4 | 2.0 | |
Retailers | 5.9 | 4.1 | 1.8 | |
Manufacturing | 3.3 | 1.5 | 1.8 | |
Homebuilders/materials | 6.2 | 4.8 | 1.4 | |
Consumer Products | 2.7 | 1.6 | 1.1 | |
Cash | 2.9 | 2.6 | 0.3 | |
Automotive / parts | 2.8 | 3.6 | -0.8 | |
Financials | 1.3 | 2.7 | -1.4 | |
Healthcare | 6.1 | 8.0 | -2.0 | |
Transportation | 1.6 | 3.7 | -2.1 | |
Telecommunications | 5.9 | 8.2 | -2.2 | |
Utilities | 1.2 | 6.0 | -4.8 |
All data source LGIM unless otherwise stated. Totals may not sum due to rounding.
Fund managers
Martin Reeves
Martin Reeves is Head of Global High Yield. Prior to joining LGIM in 2011, Martin ran Credit Research at AllianceBernstein where he had worked since 1998. Prior to Alliance Bernstein Martin was Head of US High Yield Research at UBK Asset Management and a Chartered Accountant with Ernst & Young. Martin holds an MA in Economics from Cambridge University, St Catharine's College.
Literature
Document type
Prices
Units can be purchased, sold or switched on a designated dealing day. This fund is offered on a weekly close, daily close, or daily midday basis. Further information is available in the relevant operational procedures sheet and the Description of Funds.
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