Overview
The Strategic Bond Fund aims to produce monthly income. Opportunities for capital growth are also sought, subject to prevailing market conditions.
The manager believes that appropriate comparisons for this Fund are the Investment Association Sterling Strategic Bond sector average, given the investment policy of the Fund and the approach taken by the manager and a composite index comprising 70%: ICE BofA Sterling Non-Gilt Index and 30%: ICE BofA European Currency High Yield Constrained Index (hedged to GBP) being representative of the strategic asset allocation of the Fund.
Our performance is driven by stock selection. We source ideas across both investment grade and high yield bonds and are guided by our fundamental, bottom-up stock analysis.
Performance & Portfolio
Periodic Performance
All figures to 31/10/2024 6 Months
1 Year
3 Years
5 Years
Class B-Inc 4.5% 12.4% -1.2% 0.5% Index* 3.7% 10.4% -1.3% 0.4% Figures for 3 and 5 years are shown as the annualised rate of return. This is the average yearly return over the specified period.
Annual Discrete Performance to 30 September each year
Annual percentage return (Updated Quarterly) 30/09/2019
30/09/202030/09/2020
30/09/202130/09/2021
30/09/202230/09/2022
30/09/202330/09/2023
30/09/2024Class B-Inc 2.4% 4.3% -21.1% 7.7% 13.0% Index* 2.9% 2.8% -20.0% 9.1% 11.1% Sector Average*** 3.6% 4.6% -14.5% 4.9% 11.8% Please bear in mind that past performance is not a guide to future performance.
The value of your investment may go down as well as up, and you may not get back the amount you invested.
Sector data based on B-Acc share class performance.
Source: FE, Revolution. Total return net of charges, in sterling.
Share class returns calculated using 10am prices, while the Index is calculated close-to-close.
*70% ICE BofA ML Sterling Non Gilts Index / 30% ICE BofA ML European Currency High Yield Constrained Index
***IA £ Strategic Bond Sector.Top Ten Physical Bond Holdings* - 31/10/2024
Fund % 1 Rothesay Life 8% 2025 2.9% 2 DNB Bank 4% 2026/27 2.7% 3 Bharti Airtel 5.65% 2025 Perp 2.4% 4 Banco Santander 1.5% 2026 2.3% 5 Barclays 7.125% 2025 Perp AT1 2.3% 6 Telereal FRN 2031 (C1) 2.1% 7 Berkeley Group 2.5% 2031 2.0% 8 Realty Income 5.125% 2034 2.0% 9 Yorkshire Water 6.375% 2034 1.8% 10 Schroders 6.346% 2029/34 T2 1.8% Total 22.3% Sector Analysis of Total Assets - 31/10/2024Fund %
- 1 Industrials 41.42
- 2 Financial 35.04
- 3 Securitized 9.60
- 4 Quasi & Foreign Government 6.79
- 5 Utility 3.22
- 6 Sovereign 1.61
- 7 Cash & Derivatives 2.32
- Total 100.00
As the Fund invests in overseas securities, changes in the rates of exchange may cause the value of your investment (and any income it may pay) to go down or up.
The information contained on this page is intended as a guide only and should not be relied upon when making investment decisions. All holdings information is unaudited. Source Baillie Gifford & Co.
Please note that totals may not add due to rounding.Insights
View all Insights.Meet the Managers
Lesley Dunn
Lesley is Head of Credit and co-manager of the Strategic Bond strategy. She is a member of the Multi Asset and Income Leadership Group and the Sustainable Income Portfolio Construction Group. Lesley joined Baillie Gifford in 2016 and became a partner of the firm in 2023. Prior to this, she spent 15 years at Scottish Widows Investment Partnership. Lesley graduated BSc (Hons) in Maths, Statistics & Economics from Strathclyde University in 2000 and is a CFA Charterholder.
Robert Baltzer
Robert is Head of Credit Research and co-manager of the Strategic Bond Strategy. He joined Baillie Gifford in 2001 on the graduate scheme, becoming an investment grade bond manager in 2004 before going on to manage high yield portfolios in 2010. He is responsible for running the corporate credit portion of the Managed strategy. Robert has managed strategic bond strategies since 2012. He graduated MMath from Durham University in 2001 and is a CFA Charterholder.
Documents
You can access any literature about the Fund here, either by downloading or requesting a copy by post (where available).
To download any document you will need Adobe Reader. Please note that we can now provide you with Braille and audio transcriptions of our literature on request. It may take up to 10 days for the transcription to be completed dependent on the size of the document.
Application forms
Enhanced disclosure document
Factsheets
Interim reports
Key investor information documents (KIIDs)
Philosophy and process documents
Quarterly investor reports
Shareholders rights directive
Sustainability-related disclosures and climate reports
Value assessment
Complaints
In the first instance, clients should contact their normal Client Contact with any concerns. Alternatively, or for those clients who do not have a direct client contact assigned, complaints can be emailed to Baillie Gifford’s Compliance Department at: InstitutionalComplaints@bailliegifford.com. A summary document which contains details on Baillie Gifford’s complaints management policy is available upon request. All material complaints are recorded in an in-house incident management system and are escalated to, and dealt with by, members of staff of suitable seniority, independent of the area from which the matter arose.
