ObjectiveThe value of investments and any income from them may go down as well as up and you or your client may not get back the amount originally invested.
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.
How we invest
Our High Yield Bond strategy is driven by active bond selection based on company fundamentals. In-depth fundamental analysis can identify pricing anomalies and idiosyncratic risks at a company level which are well rewarded through the credit cycle. We believe an issuing company’s fundamental resilience is the most important long-term factor, while short-term market sentiment creates valuation opportunities. Positive stock selection in a focused but diverse portfolio, combined with strong risk controls and a multi-year horizon allow us to capitalise on those opportunities for our clients.
Meet the ManagersRobert Baltzer
Robert joined Baillie Gifford in 2001 and is Head of the High Yield Team, and co-manager of the European High Yield and Global Credit strategies. He is a CFA Charterholder and graduated MMath from the University of Durham in 2001.
- Actual Investors look at the big picture. Not just the small print.