Morningstar Fund Report  | 17/04/2025Print

Royal London Short Duration Global High Yield Bond Fund Z GBP Inc

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Royal London Short Duration Global High Yield Bond Fund Z GBP Inc
Fund3.1-3.58.55.91.5
+/-Cat-0.87.3-2.8-2.30.4
+/-B’mrk-1.78.2-4.3-2.50.4
 
Category: Global High Yield Bond - GBP Hedged
Category Benchmark: Morningstar Gbl HY Bd GR Hd...
Key Stats
NAV
15/04/2025		 GBP 0.78
Day Change 0.18%
Morningstar Category™ Global High Yield Bond - GBP Hedged
IA (formerly IMA) Sector £ High Yield
ISIN IE00B979BF49
Fund Size (Mil)
14/04/2025		 GBP 1018.07
Share Class Size (Mil)
14/04/2025		 GBP 176.51
Max Initial Charge -
Ongoing Charge
21/03/2025		  0.50%
Investment Objective: Royal London Short Duration Global High Yield Bond Fund Z GBP Inc
The investment objective of the Fund is to provide income, the Fund will seek to achieve its objective on an active basis. The Fund will predominantly invest in fixed and floating rate sub-investment grade debt securities with a short duration of approximately 2 years, which will primarily include corporate bonds which are listed or dealt on the Recognised Markets, across the high yield credit spectrum. The Fund will also invest a small portion in fixed and floating rate investment grade securities, which will primarily include bonds. The Fund will also invest in fixed and floating rate investment grade and sub-investment grade government bonds which are listed or dealt on the Recognised Markets. The Fund may also invest in investment grade and non-investment grade fixed-income or floating rate securities that include zero coupon bonds, deferred interest bonds and bonds on which the interest is payable in the form of additional bonds of the same kind.
Returns
Trailing Returns (GBP)15/04/2025
YTD1.31
3 Years Annualised4.61
5 Years Annualised4.00
10 Years Annualised2.64
12 Month Yield 4.54
Dividend Paying Frequency Half-yearly
Management
Manager Name
Start Date
Azhar Hussain
15/02/2013
Stephen Tapley
15/02/2013
Inception Date
15/02/2013

Category Benchmark
Fund BenchmarkMorningstar Benchmark
SONIAMorningstar Gbl HY Bd GR Hdg GBP
Portfolio Profile for  Royal London Short Duration Global High Yield Bond Fund Z GBP Inc31/03/2025
Fixed Income
Effective Maturity-
Effective Duration1.44
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock0.000.000.00
Bond99.200.0099.20
Property0.000.000.00
Cash0.590.000.59
Other0.210.000.21
Growth Of 1000 (GBP) 31/03/2025
Fund:  Royal London Short Duration Global High Yield Bond Fund Z GBP Inc
Category:  Global High Yield Bond - GBP Hedged
Category Index:  Morningstar Gbl HY Bd GR Hdg GBP
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return0.544.95-0.013.06-3.498.505.861.49
+/- Category4.47-6.43-3.63-0.807.25-2.75-2.280.42
+/- Category Index---4.98-1.678.21-4.31-2.540.39
% Rank in Category19992655939419
Trailing Returns (GBP)15/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.18   -0.14-0.08
1 Week0.66   0.02-0.51
1 Month-0.08   1.501.29
3 Months0.92   1.631.57
6 Months1.99   1.651.49
YTD1.31   1.891.55
1 Year6.40   -0.12-1.21
3 Years Annualised4.61   0.38-0.04
5 Years Annualised4.00   -1.43-1.47
10 Years Annualised2.64   -0.73-1.26
 
Category: Global High Yield Bond - GBP Hedged
Category Index: Morningstar Gbl HY Bd GR Hdg GBP
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20251.49---
20241.011.552.460.72
20232.351.241.053.62
2022-1.23-6.580.414.16
20210.731.050.660.58
2020-8.105.131.781.69
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAbove AverageBelow Average4 star
5-YearLowLow2 star
10-YearBelow AverageLow3 star
OverallBelow AverageLow3 star
 
Category :  Global High Yield Bond - GBP HedgedClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev5.18 %
3-Yr Mean Return4.57 %
 
3-Yr Sharpe Ratio0.10
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar Gbl HY Bd GR Hdg GBP  Morningstar Gbl HY Bd GR Hdg GBP
3-Yr Beta0.620.62
3-Yr Alpha0.020.02
 
Fixed Income Style28/02/2025
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)GBP 1068
Maturity Distribution %
1 to 376.21
3 to 516.28
5 to 70.00
7 to 100.00
10 to 150.00
15 to 200.00
20 to 302.72
Over 300.00
Effective Maturity-
Effective Duration1.44
Credit Quality Breakdown %     %
AAA0.00   BB54.36
AA0.00   B32.81
A0.00   Below B0.23
BBB11.77   Not Rated0.83
 
Category: Global High Yield Bond - GBP Hedged
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock0.000.000.00
Bond99.200.0099.20
Property0.000.000.00
Cash0.590.000.59
Other0.210.000.21
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings0
Total Number of Bond Holdings94
Assets in Top 10 Holdings18.44
NameSectorCountry% of Assets
Eircom Finance Designated Activity Co... Ireland1.91
Frontier Communications Parent Inc 5.... United States1.90
Sirius Xm Radio Inc 3.125%United States1.89
Iqvia Inc 5%United States1.88
TransDigm, Inc. 5.5%United States1.84
Iron Mountain UK PLC 3.875%United States1.84
United Group B.V. 4%Netherlands1.80
Jaguar Land Rover Automotive PLC 5.875%United Kingdom1.80
Edgewell Personal Care Co 5.5%United States1.80
Sunoco LP / Sunoco Finance Corp 6%United States1.78
 
Increase Decrease New since last portfolio
Category: Global High Yield Bond - GBP Hedged
 
Management
Name of CompanyRoyal London Asset Management Ltd
Phone+44 20 75066500
Websitewww.rlam.co.uk
Address80 Fenchurch Street
 London   EC3M 4BY
 United Kingdom
DomicileIreland
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date15/02/2013
Fund Advisor(s)
Royal London Asset Management Ltd
Fund ManagerAzhar Hussain
Manager Start Date15/02/2013
Fund ManagerStephen Tapley
Manager Start Date15/02/2013
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.48%
Ongoing Charge0.50%
Purchase Details
Minimum Investments
Initial3000000  GBP
Additional50000  GBP
Savings-
Tax Free Savings Schemes
ISAsYes