AXA Defensive Distribution R Gross Dis NAV

IMA Sector:

Mixed Investment 0-35% Shares

ISIN:

GB00B0T9V151

Fund Type:

OEIC

79.34p
   
  • PEP:
  • ISA:
  • CAT Std:
  • Date: 27-Mar-2024
  • Change: 0.030p
  • Change %: 0.04%
  • Currency: GBP
  • YTD change: -0.33p
  • YTD %: -0.41%

Fund Objective

The trust aims to achieve a high level of income and maintenance of capital over the medium to long term.

View on Past Performance

There was scant new issuance in the Primary market during August, as syndicates entered the traditional mid summer holiday period. That said, we did participate in a new Lower-Tier 2 deal from The Bank of Ireland. Outside of the financial sector, we trimmed our overweight in the telecoms sector following its strong performance over the past few months. We did not make any adjustments to the overall duration of the fund during the month.

Future Expectations

Although there are significant challenges facing the global economy, we remain of the view that investment grade spreads continue to offer excellent value. Furthermore, although we would agree that a certain degree of weakness in the credit market is justified, we think that even with the most extreme potential rise in default rates, much of the frailty has already been priced in.We believe the risk remains a prolonged and painful recession, although we continue to view the possibility of a "depression" like scenario as being highly unlikely. The outlook for this year remains undoubtedly challenging though, and we do not expect any sudden turnaround in the economic environment.

Fund Details

Latest Price 79.34p IMA Sector Mixed Investment 0-35% Shares
Currency British Pound Launch Date 03/10/2008
Fund Size n/a Fund Manager Neil Sutherland
ISIN GB00B0T9V151 Dividend 0.82p

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Price Info

Date 27-Mar-2024
NAV 79.34p
Currency GBP
Change 0.030p
% 0.04%
YTD change -0.33p
YTD % -0.41%

Fund Facts

Fund Inception 03/10/2008
Fund Manager Neil Sutherland
TER 1.48 (30-Nov-2009)

Fund Reports

Minimum Investment
Initial £1000
Additional n/a
Savings £50
Charges
Initial 5.00%
Annual Mang't 1.50%
Exit n/a

Risks

Name %
Standard deviation 0.01
Sharpe ratio -0.05

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