Overview
The High Yield Bond Fund aims to produce a combination of income and capital growth.
The manager believes an appropriate comparison for this Fund is the Investment Association Sterling High Yield Bond sector average given the investment policy of the Fund and the approach taken by the manager when investing.
We focus on fundamental, forward looking research leading to a best ideas portfolio where every investment should make a difference.
Performance & Portfolio
Periodic Performance
All figures to 28/02/2023 6 Months
1 Year
3 Years
5 Years
Class B-Inc 1.6% -5.9% -1.8% 0.6%
Annual Discrete Performance to 31 December each year Sector Average
Annual percentage return (Updated Quarterly) 31/12/2017
31/12/201831/12/2018
31/12/201931/12/2019
31/12/202031/12/2020
31/12/202131/12/2021
31/12/2022Class B-Inc -2.5% 11.9% 3.0% 2.5% -13.3% Sector Average*** -3.2% 10.9% 4.0% 4.1% -10.2% 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
Performance source: FE, total return in sterling.
*IA £ High Yield Sector.Figures for 3 and 5 years show the annual rate of return.
Performance - 28/02/2023The 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-Inc share class performance.
Source: FE and relevant underlying index provider, single pricing basis, total return.
Please bear in mind that past performance is not a guide to future performance.
The graph is rebased to 100.Top Ten Physical Bond Holdings* - 28/02/2023
Fund % 1 LeasePlan 7.375% 2024 Perp AT1 2.2% 2 SPCM 2.625% 2029 2.2% 3 Grifols 3.875% 2028 2.0% 4 Victoria 3.625% 2026 1.9% 5 Burford Capital 6.25% 2028 (144a) 1.8% 6 PaymentSense 8% 2025 1.7% 7 James Hardie 3.625% 2026 1.7% 8 Ziggo 2.875% 2030 1.7% 9 MercadoLibre 3.125% 2031 1.7% 10 ANGI Homeservices 3.875% 2028 (144A) 1.6% Total 18.6% SECTOR ANALYSIS OF TOTAL ASSETS - 28/02/2023Fund %
- 1 Financial Services 13.93
- 2 Basic Industry 11.45
- 3 Telecommunications 10.29
- 4 Health Care 8.23
- 5 Services 7.83
- 6 Retail 7.32
- 7 Capital Goods 6.45
- 8 Technology & Electronics 6.41
- 9 Media 5.32
- 10 Banking 5.22
- 11 Real Estate 3.35
- 12 Consumer Goods 3.05
- 13 Insurance 2.49
- 14 Energy 2.37
- 15 Automotive 2.34
- 16 Others 1.95
- 17 Cash & Derivatives 2.00
- 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
Robert Baltzer
Robert is Head of Credit Research and co-manager of the Global Strategic Bond Fund and our high yield funds. He is a member of the Investment Grade, Crossover and High Yield Portfolio Groups. Robert joined Baillie Gifford in 2001 on the graduate scheme. He graduated MMath from Durham University in 2001 and is a CFA Charterholder.
Lucy Isles
Lucy is an investment manager in the Credit Team and co-manager of our high yield bond funds. She leads the High Yield Portfolio Group and chairs the Governance and Sustainability Multi Asset and Fixed Income Working Group. Lucy joined Baillie Gifford in 2012 on the graduate scheme. She graduated MA (Hons) in International Relations and Modern History from the University of St Andrews in 2011.
Arthur Milson
Arthur Milson is an investment manager in the Credit Team. He is co-manager of our high yield bond funds and a member of the High Yield Portfolio Group. Before joining Baillie Gifford in 2022, Arthur worked for abrdn/Standard Life Investments for 16 years, where he was responsible for managing a number of high yield funds. Arthur graduated BSc Biological Sciences from The University of Edinburgh in 1992, has a postgraduate diploma in Commerce from The University of Wollongong and is a Chartered Accountant.
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.
Bulletins and Factsheets
Enhanced Disclosure Document
Interim Reports
Key Investor Information Documents
Quarterly Investor Reports
Value Assessment
Shareholders Rights Directive
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.
