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Stocks and Shares ISAObjective
The Share Class is a share class of a Fund which aims to achieve a return on your investment through a combination of capital growth and income on the Fund’s assets, which reflects the return of the Markit iBoxx EUR Corporates BBB-BB (5% Issuer Cap) Index (Index). The Share Class, via the Fund, aims to invest so far as possible and practicable in the fixed income (FI) securities (such as bonds) that make up the Index and comply with its credit rating requirements. If the credit ratings of the FI securities are downgraded or upgraded, the Fund may continue to hold them until they cease to form part of the Index and it is practicable to sell them. The Index measures the performance of fixed and floating rate Eurodenominated corporate bonds rated BBB and BB or equivalent (whichrepresent the lower end of investment grade to the higher end of subinvestmentgrade). The bonds will, at the time of inclusion in theIndex, have a credit rating of between BBB+ and BB- (inclusive) orequivalent (which indicate that the companies have a moderate to lowlevel of creditworthiness) based on the index provider’s rating whichuses the average of the ratings by the credit rating agencies Fitch,Moody’s and S&P. They will also have a market-value weightedaverage rating of at least BBB- at each index rebalance. If the marketvalueweighted average rating of the bonds eligible for inclusion in theIndex is lower than BBB-, the weighting of bonds with the lowestcredit rating will be reduced and their allocations distributed to thebonds with the highest credit rating in proportion to their marketvalues, subject to a cap on each company of 5%, until the desiredcredit rating is achieved. These may include the strategic selection of certain securities that make up the Index or other FI securities, including government bonds, which provide similar performance to certain constituent securities.
- Leverage -
- Currency hedgingNo