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Contact details

Marlborough House, 59 Chorley New Road, Bolton, BL1 4QP
0808 145 2500 (Customer Support)
0808 145 2501 (Dealing)
0120 453 3045 (Fax Number)
0120 439 8676 (Main Number)

Fund managers

* Paul Reed29-Nov-2004 to Present
* Mark Sanders»01-May-2012 to Present

Investment objectives

The objective of the scheme is to provide a high level of income with the opportunity for some long-term capital growth. The Scheme will invest in a portfolio largely comprising fixed, variable rate and index related securities issued by corporates, government, supranational institutions and local and regional agencies, both in the UK and internationally, as well as other securities deemed to be appropriate by the Manager.

Key Information

Fund vs sector

  1y 3y
Position 21 / 30 8 / 24
Quartile 3 2

Fund ratings

FE Crown Rating: 1 FE Crown Rating


  1y 3y
Volatility 2.10 9.94
Alpha 0.91 -3.09
Beta 0.87 1.40
Sharpe 2.32 0.69
Info Ratio -0.23 0.14
R2 0.87 0.94
Quartiles:   1  2  3  4   help with ratios
vs. IMA Sterling High Yield»
performance chart
INC +6.2+35.7+50.2+10.2+15.9-8.0+20.4
  IMA STERLING HIGH YIELD   +6.4+33.3+50.4+8.0+16.0-2.8+16.1
Clean share class
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf MARLBOROUGH HIGH YIELD FIXED INTEREST B INC INC 75.86 (p) 80.27 (p) 19-Sep-2014 6.86 1.09% I3PA B8YR091
pdf MARLBOROUGH HIGH YIELD FIXED INTEREST P INC INC 76.42 (p) 77.39 (p) 19-Sep-2014 6.99 0.84% I3PB B8L7D39
Other share classes
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf MARLBOROUGH HIGH YIELD FIXED INTEREST A INC 75.46 (p) 80.06 (p) 19-Sep-2014 6.62 1.58% QM64 B03TN15

The Ongoing Charges Figure (OCF) shows the drag on performance caused by operational expenses associated with a fund.

Expenses which are represented by this figure include payments to the manager, the trustee the custodian and their representatives. The figure also includes registration, regulatory, audit and legal fees, and the costs of distribution.

Performance fees, transaction costs, interest on borrowing, costs associated with derivatives, entry and exit fees and soft commissions are not included in the OCF calculation, and should be factored in separately by the investor.

The OCF is calculated by taking the sum of these expenses incurred in the last 12 months and dividing this by the average net assets of that class for the last 12 months.

Total Expense Ratio (TER) is a formula designed to show the ongoing costs to the investor associated with a fund, including some charges which are not factored into the annual management fee. In addition the fund’s annual fee, charges such as trading fees, audit and legal fees, and operational expenses are included in the TER, which is worked out by dividing the total cost of the fund by its total assets to arrive at a percentage.

Unlike the Ongoing Charges Figure, the TER takes into account performance fees. It does not include transaction costs paid to the custodian.

Detailed fund information
Fund type flag UK Unit Trust
Own ISA wrapper Fund has ISA Wrapper help with ratios Fund size£60.3m / $98.3m (01-Sep-14)
Savings plan Fund has Savings Plan Minimum: £ 100.0 Monthly Launch29-Nov-2004
Pricing times12:00 Daily Dealing frequencyDaily
Dealing timesMon-Fri 09:00 to 17:00
Minimum initial£ 1,000
Minimum additional£ 500
Initial charge5.25%
Annual management charge1.50%
Note to chargesn/a
Trustee / DepositaryHSBC Bank Plc
RegistrarMarlborough Fund Managers Ltd
Dividend policyMar 31, Jun 30, Sep 30, Dec 31 (Final)
Peer groups
Region Asset Class Investment Focus Sector
Global Fixed Interest Mixed IMA Sterling High Yield
Largest holdings, 01-Sep-2014
Holding (%) Rank Prev Fund factsheet Equity factsheet
LLOYDS TSB BANK 13% STEP-UP PERP CAP SECS 22/ 2.90 1 (1) - -
ONTEX IV 7.5% BDS 15/04/18 EUR1000 144A 2.00 2 (3) - -
WIENERBERGER AG 6.5% BDS 09/02/17 EUR1000 2.00 3 (4) - -
ELLI FINANCE UK PLC 8.75% BDS 15/06/19 GBP1000 144A 1.80 4 (5) - -
HOMEVI SAS 6.875% BDS 15/08/21 EUR1000 144A 1.70 5 (2) - -
VERISURE HOLDINGS 8.75% BDS 01/09/18 EUR1000 144A 1.70 6 (-) - -
MATALAN FINANCE LTD 8.875% BDS 01/06/20 GBP100000REG S 1.60 7 (8) - -
PHONES4U FINANCE PLC 9.5% BDS 01/04/18 GBP100000 REG S 1.60 8 (7) - -
HOUSE OF FRASER 8.875% BDS 15/08/18 GBP100000 1.60 9 (9) - -
CEGEDIM 6.75% BDS 01/04/20 EUR1000 144A 1.50 10 (10) - -
Regional weightings, 01-Sep-2014
Developed Europe - Excl UK53.001(1) 53.00% Developed Europe - Excl UK
UK38.202(2) 38.20% UK
Cash and Equivalents5.203(3) 5.20% Cash and Equivalents
European Emerging Markets2.604(5) 2.60% European Emerging Markets
Others0.705(4) 0.70% Others
North America0.306(6) 0.30% North America
Sector weightings, 01-Sep-2014
B54.801(1) 54.80% B
BB13.402(3) 13.40% BB
Non-Rated11.703(2) 11.70% Non-Rated
CCC10.904(4) 10.90% CCC
Cash5.205(5) 5.20% Cash
Non Debt2.006(6) 2.00% Non Debt
BBB2.007(7) 2.00% BBB

All prices in Pence Sterling (GBX) unless otherwise specified. Price total return performance figures are calculated on a bid price to bid price basis (mid to mid for OEICs) with net income (dividends) reinvested. Performance figures are shown in Sterling unless otherwise specified.

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Asset allocation

Europe ex UK Fixed Interest, 53.00%
53.0000% ofEurope ex UK Fixed Interest
UK Fixed Interest, 38.20%
38.2000% ofUK Fixed Interest
Money Market, 5.20%
5.2000% ofMoney Market
European Emerging Fixed Interest, 2.60%
2.6000% ofEuropean Emerging Fixed Interest
Global Fixed Interest, 0.70%
0.7000% ofGlobal Fixed Interest
North American Fixed Interest, 0.30%
0.3000% ofNorth American Fixed Interest

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