AXA Global High Income R GROSS Acc NAV

IMA Sector:

High Yield

ISIN:

GB00B0T9V599

Fund Type:

OEIC

246.00p
   
  • PEP:
  • ISA:
  • CAT Std:
  • Date: 22-Oct-2021
  • Change: -0.100p
  • Change %: -0.04%
  • Currency: GBP
  • YTD change: 6.30p
  • YTD %: 2.63%

Fund Objective

To provide long term high yield returns.

View on Past Performance

The high yield market broke its streak of back-to-back negative monthly returns in August, posting its first gain since May. Summer vacations dominated the month, creating a relatively inactive market that ultimately was lifted slightly higher on moderately improved (US) economic data and a continued decline in commodity prices. As a result, consumer confidence improved month-over-month, demonstrating a more resilient and upbeat economic outlook.Trading during the month was limited with some cash held in the fund to make use of future investment opportunities. New issues were once again non-existent in Europe. The portfolio showed a positive return for the month for both the US and European high yield markets. Bonds with a lower credit risk profile increased in value most as investors sought to reduce risk exposure and sell into the rally. The yield to worst (i.e. the most conservative yield scenario) for the index increased by 20 bps.

Future Expectations

Investor sentiment continued to be cautious. Yield to worst is now 11.7% with the European market continuing to be more volatile than the larger US market. We expect trading to pick up in September as investors return from their holidays and the new issue market start up again, primarily in the US.We do expect however the first new issue in Europe to happen in the next month or so, which should see trading increase. We will continue to be very selective with regard to the credits that we add to the portfolio, and will continue to focus on more defensive, shorter duration bonds while picking up fundamentally sound credits at lower levels.

Fund Details

Latest Price 246.00p IMA Sector High Yield
Currency British Pound Launch Date 15/01/2001
Fund Size n/a Fund Manager Andrew WILMONT
ISIN GB00B0T9V599 Dividend 0.00p

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

 

Price Info

Date 22-Oct-2021
NAV 246.00p
Currency GBP
Change -0.100p
% -0.04%
YTD change 6.30p
YTD % 2.63%

Fund Facts

Fund Inception 15/01/2001
Fund Manager Andrew WILMONT
TER 1.36 (31-Dec-2009)

Fund Reports

Minimum Investment
Initial £1000
Additional n/a
Savings £50
Charges
Initial 4.00%
Annual Mang't 1.25%
Exit n/a

Risks

Name %
Standard deviation 0.00
Sharpe ratio 0.60

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