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  •  Prudential Global High Yield Bond Fund of Funds (A)
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1.2  /  0.32%

376.65

NAV on 2019/11/20
NAV on 2019/11/19 375.45
52 week high on 2019/08/12 389.51
52 week low on 2018/11/29 317.38
Total Expense Ratio on 2019/09/30 1.36
Total Expense Ratio (performance fee) on 2019/09/30 0
NAV Incl Dividends
1 month change 0.34% 0.34%
3 month change -2.99% -2.99%
6 month change 7.34% 7.34%
1 year change 14.02% 14.02%
5 year change 7.27% 7.27%
10 year change 9.52% 9.64%
Price data is updated once a day.
  • Sectoral allocations
Liquid Assets 4.06 0.82%
Offshore 492.47 99.18%
  • Top five holdings
  • Performance against peers
  • Fund data  
Management company:
Prudential Portfolio Managers Unit Trusts Ltd.
Formation date:
2000/11/01
ISIN code:
ZAE000026928
Short name:
U-PRUGHYB
Risk:
Unknown
Sector:
Global--Interest Bearing--Variable Term
Benchmark:
Barclays Capital Global Aggregate Bond index
Contact details

Email
info@prudential.co.za

Website
http://www.prudential.co.za

Telephone
021-670-5100

  • Fund management  
Marc Beckenstrater
Marc is Chief Investment Officer at Prudential Investment Managers. With over 20 years’ experience in investment management, Marc joined Prudential in 1999 and until December 2009 was the Head of Equity. He is responsible for equity research decision-making and performance, and heads the balanced mandate asset allocation process. Marc is Portfolio Manager of Prudential’s Balanced Fund and co-Manager of the Dividend Maximiser, both of which have won Raging Bull and Morningstar Awards.
Craig Simpson


  • Fund manager's comment

Prudential Global Bond Feeder comment - Sep 19

2019/10/25 00:00:00
In September, investors faced a string of negative news - escalating trade-war tensions between the US and China, the start of efforts to impeach President Trump, Brexit uncertainty in the UK and political instability in Europe (particularly in Italy). In keeping with market expectations, the US Federal Reserve cut interest rates by 25 bps, citing the prolonged US-China trade war and weak global economic growth as ongoing risk factors. Markets however, were disappointed as the Fed downplayed expectations of further interest rates cuts. In the UK, the Supreme Court ruled Prime Minister Johnson’s move to suspend Parliament was illegal, triggering calls from opposition parties for him to step down. In the EU, outgoing ECB president Mario Draghi announced that the central bank would cut interest rates by 10bps (below market expectations of a 20bp cut) and would continue to keep rates at accommodative levels until inflation showed signs of approaching the 2.0% target. The ECB will also resume buying up to EUR20bn in corporate bonds per month, starting 1 November. In Germany, the manufacturing PMI for September dropped to 41.7, its steepest contraction in 10 years.
Elsewhere in Europe, Italy’s new coalition government looked set to reignite tensions with the European Commission after Finance Minister Roberto Gualtieri announced plans to raise the country’s deficit target for 2020. China, meanwhile, filed a lawsuit with the World Trade Organization after the US imposed an additional 15% tariff on US$300bn worth of Chinese imports from 1 September. In retaliation to the tariff increase, China levied new duties of between 5-10% on US$75bn worth of American imports, including crude oil. The Bloomberg Barclays Global Aggregate Bond Index (US$) returned -1.0% in September. The rand strengthened 1.1% against the euro and 0.1% against the dollar, but weakened 1.1% against the pound sterling.
In US dollar terms, exposure to Mexican government bonds and UK corporate bonds contributed to performance, while exposure to Japanese government bonds detracted the most from value.
  • Fund focus and objective  
The fund aims to maximise total return while generating a relatively high yield when compared to global bond markets. This is obtained through exposure to a selection of higher-yielding global corporate bonds. This specialist Fund invests in a blend of international unit trust funds, with underlying bond holdings diversified in terms of geography, currency, maturity and credit risk to ensure a high risk adjusted return. The Fund primarily invests in developed markets which provide a hedge against the Rand and emerging market risk.
Who Should Invest?
Individuals who require an ongoing high level of income from their investment capital combined with global diversification.
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