Royal London Sterling Extra Yield Bond Inclusive - Class B - Income (GBP)

Sell:106.27p Buy:106.27p Change:

0.06p (0.06%)

Prices as at 9 August 2022

Sell:106.27p

Buy:106.27p

Change:

0.06p (0.06%)

You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account

Prices as at 9 August 2022

Sell:106.27p

Buy:106.27p

Change:

0.06p (0.06%)

Prices as at 9 August 2022

You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account

The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Charges and Savings

Initial charges
Initial charge:	0.00%
Initial saving from HL:	0.00%
HL dealing charge:	Free
Net initial charge:	0.00%

How initial savings affect the buy price

Annual charges

Performance fee:

Ongoing charge (OCF/TER):

1.35%

Ongoing saving from HL:

0.50% i

Net ongoing charge:

0.85%

There are other unit types of this fund available:

Class A - Accumulation	(Net ongoing charge 0.84%)
Class Y - Income (GBP)	(Net ongoing charge 0.40%)

HMRC believes that from April 2013 rebates of annual charges (such as loyalty bonuses) paid on funds held in nominee accounts, such as our Fund & Share Account, should be subject to income tax. Loyalty bonuses paid on funds in ISAs and SIPPs are unaffected, and they remain tax-free.

We believe all loyalty bonuses are tax-free and we are challenging HMRC's interpretation. However, while we make this challenge we are 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.

If loyalty bonuses are taxable then the value of our ongoing saving to you could be reduced, depending on the rate of tax you pay. The below table gives an indication of how this may affect you.

In this case, the ongoing saving is 0.50%, of which 0.50% is paid by loyalty bonus. The tax that could be payable on this loyalty bonus, and therefore the value of this saving to you, is shown below.

	Non-taxpayer	Basic rate taxpayer	Higher rate taxpayer	Additional rate taxpayer
Ongoing saving from HL:	0.50%	0.50%	0.50%	0.50%
Loyalty bonus:	0.50%	0.50%	0.50%	0.50%
Tax on loyalty bonus:	0.00%	0.10%	0.2%	0.225%
Value of ongoing saving to you:	0.5%	0.4%	0.3%	0.275%

Tax rules can change and benefits depend on individual circumstances. Please remember loyalty bonuses received on funds held in the Vantage ISA or Vantage SIPP are exempt from tax.

Also, loyalty bonuses received by overseas investors, companies and charities are not required to be paid with the deduction of tax. Therefore, if you are an overseas investor, or you represent a company or charity please let us know if you would like your loyalty bonuses paid without the deduction of an amount equivalent to the basic rate tax.

In some cases the ongoing savings are provided by our loyalty bonus. Loyalty bonuses are tax-free in an ISA or SIPP. However, they may be subject to tax in a Fund & Share Account which would, in effect, reduce their value and increase the net ongoing charge.

HL Guide to fund prices, savings and yields

Please also read the Key Investor Information Document (KIID)

Other Information

Unit type:	Inclusive
Manager:	Multiple Multiple
Fund launch date:	11 April 2003
Launch price:	£1.00
Sector:	GBP Strategic Bond
Fund size:	£1,608 million
Number of holdings:	259
Fund type:	OEIC
Accumulation/income:	Income
Dealing frequency:	Daily
Valuation point:	17:00
Trustee:	State Street Trustees Limited
Minimum investment:	£100.00
Charges deducted from:	n/a
Available in a regular savings plan:	Yes
Minimum regular savings value:	£25.00

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Performance

	09/08/17 to 09/08/18	09/08/18 to 09/08/19	09/08/19 to 09/08/20	09/08/20 to 09/08/21	09/08/21 to 09/08/22
Annual return	5.84%	4.54%	-4.01%	13.06%	-3.43%

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

HL Research

Eric Holt and Rachid Semaoune invest in a wide range of bonds in different sectors and from different companies. They also look in areas ignored by many other bond investors and this makes the fund different from its competitors. It's a more adventurous option because high yields are typically offered...

Our latest article

Joseph Hill | 28 June 2022

In this fund update, Senior Investment Analyst Joseph Hill shares our analysis on the manager, process, culture, ESG integration, cost and performance of the Royal London Sterling Extra Yield Bond fund.

Fund Objective

The investment objective of the fund is to achieve a high level of income. The fund seeks to achieve a gross redemption yield (GRY) of 1.25 times the gross redemption yield of the FTSE Actuaries British Government 15 Year index.

Income Details

Distribution yield :	4.81%
Income paid:	Quarterly
Type of payment:	Interest
Ex-dividend date:	1 July 2022 1 October 2022 1 January 2023 1 April 2023
Payment date:	31 August 2022⁴ 30 November 2022⁴ 28 February 2023⁴ 31 May 2023⁴

This data is provided by Broadridge. HL accepts no responsibility for its accuracy and you should independently check data before making any investment decision. All yields are variable and not guaranteed. Information correct as at 28 February 2022.

Security	Weight
SANTANDER UK PLC JR SUBORDINA 10/49 10.0625	2.50%
CO OP GRP HLDS COMPANY GUAR REGS 07/26 VAR	2.24%
CENTRICA PLC JR SUBORDINA REGS 04/75 VAR	2.16%
ELECTRICITE DE FRANCE SA JR SUBORDINA REGS 07/49 VAR	2.08%
THAMES WATER KEMBLE FINA SR SECURED REGS 05/26 4.625	1.97%
Abbey National 10 3/8% Non Cum Stlg Pref GBP1	1.94%
M+G PLC SUBORDINATED REGS 12/63 VAR	1.76%
METROCENTRE FINANCE SR SECURED 12/28 8.75	1.76%
PHOENIX GRP HLD PLC JR SUBORDINA REGS 12/49 VAR	1.58%
HEATHROW FINANCE PLC SR SECURED REGS 03/27 VAR	1.53%

Sector	Weight
Bonds	85.17%
Non-Classified	10.27%
Real Estate Investment Trusts	1.50%
Non-Renewable Energy	0.99%
Banks	0.46%
Alternative Trading Strategies	0.43%
Cash and Equiv.	0.41%
Industrial Transportation	0.40%
Food Producers	0.36%

Country	Weight
United Kingdom	63.66%
Non-Classified	13.40%
Norway	6.00%
France	4.16%
Canada	1.70%
Netherlands	1.68%
Denmark	1.60%
Direct Property and REITs	1.50%
Luxembourg	0.97%
Australia	0.78%

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Prices provided by Morningstar, correct as at 9 August 2022. Data provided by Broadridge, correct as at 30 June 2022.

You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account

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.

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Eric Holt
Manager start date	11/04/2003
Manager located in	London

Rachid Semaoune
Manager start date	02/01/2019
Manager located in	London