Morningstar Fund Report  | 05/04/2025Print

Royal London Sterling Extra Yield Bond Fund A

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Royal London Sterling Extra Yield Bond Fund A
Fund7.4-5.29.410.63.0
+/-Cat7.56.51.67.01.3
+/-B’mrk12.318.24.613.52.4
 
Category: GBP Flexible Bond
Category Benchmark: Morningstar UK Core Bd GR GBP
Key Stats
NAV
03/04/2025		 GBP 1.09
Day Change -0.13%
Morningstar Category™ GBP Flexible Bond
IA (formerly IMA) Sector £ Strategic Bond
ISIN IE0032571485
Fund Size (Mil)
03/04/2025		 GBP 1634.21
Share Class Size (Mil)
03/04/2025		 GBP 271.70
Max Initial Charge -
Ongoing Charge
21/03/2025		  0.80%
Investment Objective: Royal London Sterling Extra Yield Bond Fund A
The fund’s objective is to achieve a high level of income and to achieve gross redemption yield of 1.25 times the gross redemption yield of the FTSE Actuaries British Government 15 year index. The above objective applies to Class A and Class B shares in each of the sub-funds. The sub-fund seeks to achieve its investment objective by investing at least 75% of its assets in Sterling denominated securities traded principally on the London Stock Exchange or over the counter markets. The sub-fund may also invest up to 25% of its assets in non-Sterling denominated securities traded principally on European, U.S., Canadian and Australian exchanges or over the counter markets.
Returns
Trailing Returns (GBP)03/04/2025
YTD3.02
3 Years Annualised6.27
5 Years Annualised8.20
10 Years Annualised5.64
12 Month Yield 6.68
Dividend Paying Frequency Quarterly
Management
Manager Name
Start Date
Rachid Semaoune
02/01/2019
Eric Holt
11/04/2003
Inception Date
11/04/2003

Category Benchmark
Fund BenchmarkMorningstar Benchmark
FTSE Act UK Cnvt Gilts Over 15 Yr TR GBPMorningstar UK Core Bd GR GBP
Portfolio Profile for  Royal London Sterling Extra Yield Bond Fund A31/03/2025
Fixed Income
Effective Maturity-
Effective Duration4.00
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock1.330.001.33
Bond89.190.0089.19
Property0.000.000.00
Cash0.420.100.31
Other9.160.009.16
Growth Of 1000 (GBP) 31/03/2025
Fund:  Royal London Sterling Extra Yield Bond Fund A
Category:  GBP Flexible Bond
Category Index:  Morningstar UK Core Bd GR GBP
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return1.268.800.877.45-5.169.3710.592.97
+/- Category3.380.78-4.087.546.461.566.971.28
+/- Category Index1.221.04-7.5112.3118.244.6413.472.44
% Rank in Category6318641853612
Trailing Returns (GBP)03/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.13   -0.22-0.89
1 Week0.12   -0.32-1.77
1 Month0.76   1.000.26
3 Months2.80   1.321.04
6 Months4.95   3.656.27
YTD3.02   1.611.37
1 Year10.16   4.918.79
3 Years Annualised6.27   4.0011.46
5 Years Annualised8.20   4.7713.08
10 Years Annualised5.64   3.225.87
 
Category: GBP Flexible Bond
Category Index: Morningstar UK Core Bd GR GBP
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20252.97---
20243.641.422.942.21
20231.320.132.535.14
2022-1.59-3.85-4.054.46
20212.163.501.630.00
2020-15.689.942.655.99
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearHighBelow Average5 star
5-YearHighHigh5 star
10-YearHighAbove Average5 star
OverallHighAbove Average5 star
 
Category :  GBP Flexible BondClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev5.41 %
3-Yr Mean Return6.42 %
 
3-Yr Sharpe Ratio0.43
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar UK Core Bd GR GBP  Morningstar UK HY Bd GR GBP
3-Yr Beta0.340.66
3-Yr Alpha5.330.42
 
Fixed Income Style28/02/2025
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)GBP 1626
Maturity Distribution %
1 to 318.52
3 to 527.38
5 to 75.37
7 to 1014.97
10 to 153.38
15 to 205.41
20 to 3014.48
Over 307.93
Effective Maturity-
Effective Duration4.00
Credit Quality Breakdown %     %
AAA0.00   BB19.80
AA0.00   B17.81
A0.80   Below B1.27
BBB25.47   Not Rated34.86
 
Category: GBP Flexible Bond
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock1.330.001.33
Bond89.190.0089.19
Property0.000.000.00
Cash0.420.100.31
Other9.160.009.16
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings11
Total Number of Bond Holdings216
Assets in Top 10 Holdings19.76
NameSectorCountry% of Assets
Electricite de France SA 7.375%France2.71
Co-operative Group Ltd 7.5%United Kingdom2.19
Metrocentre Finance Plc 8.75%United Kingdom2.12
Santander UK PLC 10.38% PRF PERPETUAL... United Kingdom2.12
Santander UK PLC 10.0625%United Kingdom2.10
Centrica PLC 6.5%United Kingdom1.87
M&G PLC 6.34%United Kingdom1.74
Phoenix Group Holdings PLC 5.75%United Kingdom1.72
Canary Wharf Group Investment Holding... United Kingdom1.67
Heathrow Finance PLC 4.125%United Kingdom1.53
 
Increase Decrease New since last portfolio
Category: GBP Flexible Bond
 
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 Date11/04/2003
Fund Advisor(s)
Royal London Asset Management Ltd
Fund ManagerRachid Semaoune
Manager Start Date02/01/2019
Fund ManagerEric Holt
Manager Start Date11/04/2003
 
Biography
Eric joined Refuge Assurance’s investment team in 1979, having been initially recruited into the Actuarial department. He has overall responsibility for RLAM’s credit research process and has extensive knowledge of UK corporate bonds, which has been his main focus for twenty years. Eric is a graduate of Nottingham University with a degree in mathematics and is an associate of the Institute of Actuaries.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.84%
Ongoing Charge0.80%
Purchase Details
Minimum Investments
Initial100000  GBP
Additional-
Savings0  GBP
Tax Free Savings Schemes
ISAsYes