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Henderson Preference & Bond Inclusive - Class A - Income (GBP)

Sell: 54.06pBuy: 54.06pNo change 

Prices as at 21 August 2014

* Please note that there can be occasions when the Selling price shown may be temporarily higher than the Buying price. This can sometimes happen when the stock market is closed but it can also happen at other times for a variety of reasons. However, when the stock market is open and you place a trade, the selling price available to you will never be higher than the buying price. Live prices will be available when you place a deal with us during market hours. Please check these and contact us if you are unable to deal online.

Charges and Savings

Fund manager's initial charge: 4.00%
HL saving on initial charge: 4.00%
HL dealing charge: Free
Net initial charge: 0.00%
Fund manager's annual charge: 1.25%
HL saving on annual charge (loyalty bonus): 0.65%
Net annual charge: 0.60%
 
Fund manager's other expenses: 0.18%
Performance fee: No  

Please read the Simplified Prospectus/Key Investor Information Document (KIID) in addition to the information above. Further details available in the HL guide to fund prices, savings and yields. Loyalty bonus is paid tax-free in an ISA or SIPP but may be subject to tax in a Fund & Share Account.

HRMC believes that from April 2013 rebates of annual charges (such as loyalty bonuses) paid on funds held outside ISAs or SIPPs should be paid net of basic rate tax. We believe this is incorrect and are challenging HMRC's interpretation. However, in line with best client accounting practice and to save clients facing an unexpected bill in the future, we are currently paying loyalty bonuses within the Vantage Fund & Share Account net of an amount equivalent to the basic rate tax. If we are successful in our challenge we will return this money to clients. If we are unsuccessful we will use the money to pay over any amounts due to HMRC. Loyalty bonuses in the Vantage Fund & Share Accounts held by overseas investors, companies and charities will be paid without any deductions, as will loyalty bonuses in the Vantage ISA and Vantage SIPP which are exempt from tax.

Other Information

Unit type: Inclusive
Manager: Multiple
Fund launch date: 9 October 1978
Launch price: £0.48
Sector: GBP Strategic Bond
Fund size: £643 million
Number of holdings: 246
Fund type: OEIC
Accumulation/income: Income
Dealing frequency: Daily
Valuation point: 12:00
Trustee: The National Westminster Bank plc
Minimum investment: £500.00
Charges deducted from: Capital
Available in a regular savings plan: Yes
Minimum regular savings value: £50.00

Performance

21/08/09 to 21/08/10 21/08/10 to 21/08/11 21/08/11 to 21/08/12 21/08/12 to 21/08/13 21/08/13 to 21/08/14
Annual return 21.4% 1.29% 8% 5.57% 9.35%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

View fund chart

Our view on this fund

The Wealth 150 is the list of what we believe are the best funds in each sector. If a fund is not within our Wealth 150 this is not necessarily a recommendation to sell. However, if you are thinking of adding to your investments we believe Wealth 150 funds are superior alternatives. View funds on the Wealth 150 »

Fund Objective

To provide a return by investing primarily in sterling denominated preference shares, government securities, corporate bonds, Eurobonds and other bonds. The Fund may invest in other transferable securities, money market instruments, derivatives and forward transactions, deposits and units in collective investment schemes.

Income Details

Distribution yield : 5.60%
Underlying yield : 4.40%
Income paid: Quarterly
Type of payment: Interest
Ex-dividend date: 1 July 2014 1 October 2014 1 January 2015 1 April 2015
Payment date: 31 August 20144 30 November 20144 28 February 20154 31 May 20154

All yields are variable and not guaranteed. Information correct as at 31 July 2014.

Security Weight
BUPA 6.125% 2020 1.92%
ZIGGO BOND CO BV 8% 15/05/2018 EUR REGS 1.77%
HBOS STERLING FINANCE 7.881% VAR PERP GBP (7.881% 09/12/2049) 1.73%
ALLIANCE BOOTS 12/12 (GBP) EXTENDED TLB4 1.51%
STANDARD LIFE 5.314% FIX/FRN PERP EUR 1.47%
NATIONWIDE BUILDING SOCIETY 10.25% PERP GBP CCDS 1.46%
WIND ACQUISITION FINANCE SA 7% 23/04/2021 EUR REGS 1.41%
ASSICURAZIONI GENERALI 6.269% FRN 29/06/49 GBP 1.40%
AA BOND CO LTD 9.5% 31/07/2019 GBP REGS 1.39%
THOMAS COOK GROUP 7.75% 22/06/17 GBP 1.37%
Sector Weight
Bonds 83.37%
Non-Classified 11.11%
Cash and Equiv. 5.53%
Industrial Transportation 0.00%
Country Weight
United Kingdom 41.31%
United States 11.53%
Non-Classified 9.93%
Luxembourg 6.97%
France 6.56%
Cash and Equiv. 5.53%
Netherlands 5.13%
Italy 4.85%
Germany 2.86%
Switzerland 1.56%

Fund Manager

1 of 3
Photo of Rebecca Morris-Charles

Key facts

Rebecca Morris-Charles
Manager start date 01/03/2014
Manager located in London

Biography

Rebecca joined Henderson in 2009 on the Graduate scheme. She has since moved to Retail Fixed Income, as an analyst. Rebecca holds a MMath Master of Mathematics from Bath University and has passed all 3 levels of the CFA exam.

Photo of Jenna Barnard

Key facts

Jenna Barnard
Manager start date 01/11/2013
Manager located in London

Biography

Jenna Barnard is Associate Director, Retail Fixed Income, and co-manages the Henderson Preference and Bond and Strategic Bond Funds alongside John Pattullo. Jenna joined Henderson Global Investors in 2002 as Credit Analyst, Assistant Portfolio Manager and progressed to Credit Portfolio Manager in 2004. Prior to joining Henderson, Jenna worked as an Investment Analyst with Orbitex Investments. Jenna is a CFA charterholder, and an affiliate member of UKSIP.

Photo of John Pattullo

Key facts

John Pattullo
Manager start date 19/01/2006
Manager located in London

Biography

John Pattullo joined Henderson Global Investors in 1997 and is Director of Fixed Income, responsible for UK Retail. He co-manages the Henderson Preference & Bond Fund and the Henderson Strategic Bond Fund with Jenna Barnard. John previously spent four years as a chartered accountant at PricewaterhouseCoopers. John is a member of the Institute of Chartered Accountants of Scotland and an Associate Member of the Society of Investment Professionals.

You can buy or sell holdings in this fund through a NISA, SIPP or Fund & Share Account

Data received from the Fund Management Company administering this fund and provided to you for your information. Hargreaves Lansdown accepts no liability for the reliability or accuracy of the data provided by third parties.

4 If you elect to receive the income from a Vantage ISA or Vantage Fund & Share Account, we will collect any dividends for you and then pay them directly into your bank account within the first 10 working days of the following month.

Prices as at 21 August 2014. Data as at 30 May 2014.

Wealth 150 fund

The Wealth 150 is a list of what we believe are the best funds in all the main sectors. For a fund to be selected for the Wealth 150 it must pass a rigorous selection process, and we continually monitor the list to ensure it only contains the best funds.

Wealth 150+ fund

The Wealth 150 is a list of what we believe are the best funds in all the main sectors. For a fund to be selected for the Wealth 150 it must pass a rigorous selection process, and we continually monitor the list to ensure it only contains the best funds.

As investment returns depend on two factors - performance and charges - we have identified from the Wealth 150, the funds we believe offer the very best combination of outstanding performance potential and the best prices. These are the Wealth150+ funds. In many cases these super-low charges are only available through the Vantage Service - a unique benefit to Hargreaves Lansdown clients.

Core Tracker fund

The Core Trackers list represents what we believe are the very best trackers in each of the main sectors. We analysed each fund's management, process and performance to find the best combination of quality and cost. We want to ensure that the fund has not only tracked its index closely in the past, but that it has the best potential to track well in the future. In many cases these super-low charges are only available through the Vantage Service - a unique benefit to Hargreaves Lansdown clients.



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