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A mid green ethical version of the Royal London Corporate Bond, investing entirely in UK bonds. The ethical screening restricts the investable universe by approximately 5% when compared to the Corporate Bond trust. This fund sets itself apart from the peer group within the sector by the relatively large position the manager is prepared to take in unrated bonds (up to 20%). This is designed to reduce the volatility of returns and improve the risk/return characteristics of the fund. Diversification of individual credit risk is emphasised by the large number of companies in which the fund holds a single issue only.

  • Standard Initial Charge 0.00%
  • Initial charge via Bestinvest 0.00%

Fund summary

Sector £ Strategic Bond
Structure OEIC
Launched April, 2019
Size £1,594m
Yield 2.4%
Charging basis 50% Income 50% Capital
Dividends paid 31 Mar, 30 Jun, 30 Sep, 31 Dec


Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.45%
Ongoing charges figure 0.49%


Before investing make sure you have understood the risks relevant to the fund by reviewing our Risk Warnings section. Further information on the risks are contained in the fund's Key Investor Information Document, which we make available to you before you make a decision to invest, alternatively it is available on request.

Bestinvest view

No information available.


Allocation Proportion(%)
Equity 0
High yield bonds 21
Quality bonds 79
Property 0
Commodities 0
Hedge 0
Fund cash 0
Allocation Proportion(%)
UK 0
Europe 0
North America 0
Japan 0
Pacific 0
Emerging Markets 0
Allocation Proportion(%)
Large Caps 0
Mid Caps 0
Small Caps 0

View all performance data for this fund

Investment process

The aim is to invest in bonds that have been issued by socially-aware companies and will invest the portfolio in sterling investment grade bonds. Up to 20% may be held in unrated bonds. 75% of research is produced internally. An independent EIRIS screen researches approximately two-thirds of the companies that could be considered. Royal London carry out their own research on ethical companies to improve the risk/return profile and achieve diversification. The filtering system ensures that any issuer of the fund's holdings does not produce more than 10% of its annual turnover from a combination of any of the following:- Alcohol, armaments, gambling, tobacco, and pornography.

Live feed

Bid price(inc) 127.60p
Accum units 158.70p
Fund commentary
Fund data updated on 21/09/21

Asset allocation

Allocation Proportion(%)
Equity 0
High yield bonds 21
Quality bonds 79
Property 0
Commodities 0
Hedge 0
Fund cash 0

Equity Geographic

Allocation Proportion(%)
UK 0
Europe 0
North America 0
Japan 0
Pacific 0
Emerging Markets 0

Equity Capitalisation

Allocation Propor
Large Caps 0
Mid Caps 0
Small Caps 0

Top 10 holdings

As at: 31/07/2020
1.0231%Thames Water Utilities Cayman Fin 7.738% Bds 09/04/58 Gbp100000
.9938%Electricite De France 6% 23/01/2114
.8841%Prudential Plc 6.125% Sub Nts 19/12/31 Gbp(Var)
.8203%Nbha 3.625% 11/22/28
.8148%Aviva 6.875%/ Frn 20/05/58 Gbp50000
.7882%Glaxosmithkline Capital 1.25% Nts 12/10/28 Gbp100000
.7745%Uk Municipal Bonds Agency Finance Frn 12/03/2025
.7544%Derby Healthcare 5.564% Nts 30/6/41 Gbp1000
.7305%Mgnln 6 1/4 10/20/68
.6793%Premiertel Cls`B`6.175% Bds 8/5/32 Gbp1000
Source: Trustnet

Sector breakdown

Corporate Bonds 24%
Financial Services 20%
Property 14%
Utilities 12%
Insurance 11%
Real Estate 5%
Consumer Services 5%
Mortgage & Secured Bonds 2%
Government Agency Bonds 2%
Consumer Goods 2%

Portfolio details

130-150 issues, individual issues not more than 3%


100% UK bonds, up to 20% unrated bonds. UK Government debt may also be used.

Average monthly relative returns Bestinvest MRI
16/17 17/18 18/19 19/20 20/21   3 years 5 years Career 3 years 5 years Career
0.02% -0.01% -0.05% -0.03%   -0.12% 24.50%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Eric Holt

Manager. Holt has worked within the fixed interest markets for over 20 years. As the Head of Credit, he oversees credit analysis for a broad range of bond portfolios. He has a degree in Mathematics from the University of Nottingham and is an Associate of the Institute of Actuaries.

Track record

Eric Holt has 19 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.12%. During the worst period of relative performance (from February 1997 - July 2009) there was a decline of 26% relative to the index. The worst absolute loss has been 28%.

Periods of worst performance
Absolute -28% (December 2007 - November 2008)
Relative -26% (February 1997 - July 2009)

Other funds managed

Sector record since (19 yrs)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

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