Royal London's Sterling Extra Yield Bond Fund, managed by Eric Holt, has broken the £1 billion mark. Launched in 2003 the fund's objective is to achieve a high level of income.
Eric Holt puts the fund's success down to his unique investment process. Mr Holt said:
“I am grateful for the support given to my fund. It invests across a range of investment grade, sub grade and unrated bonds. A combination of attractive yield, diversification and the flexibility to take certain opportunities have all contributed to its success. In addition, the risk posed by sub-investment grade bonds is mitigated by investing in secured bonds which come with a favourable claim on the underlying assets. It has also benefited from the ability to invest in some interesting and niche companies.”
The Fund's credentials were recognised last week when it won the Money Observer award for “Best Larger Fund - UK Bonds” and it has been shortlisted in the upcoming Investment Week Fund Manager of the Year Awards for best fund in the Strategic Bond sector.
The Fund joins colleague Martin Cholwill's UK Equity Income Fund which broke the £1 billion mark in February 2014.
Notes to Editors:
Funds under management = £1.002 billion as at 9th June 2014.
About Royal London:
Royal London is the largest mutual life and pensions company in the UK with Group funds under management of £73.6 billion. Group businesses serve around 5.3 million customers and employ 2,880 people. (Figures quoted are as at 31 December 2013).
The Group is moving to operate all of its UK life, pension and investment business under a new version of the Royal London brand. Royal London Asset Management is now under the new master-brand, and the Scottish Life, Scottish Provident and Bright Grey brands will migrate by the end of 2015.
Press release distributed by Pressat on behalf of Pressat Wire, on Tuesday 10 June, 2014. For more information subscribe and follow http://www.pressat.co.uk/
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