0.19 /
0.16%
119.53
NAV on 2021/04/19
| NAV on 2021/04/16 |
119.34 |
| 52 week high on 2021/02/11 |
123.57 |
| 52 week low on 2020/04/24 |
108.91 |
| Total Expense Ratio on 2021/03/31 |
0.9 |
| Total Expense Ratio (performance fee) on |
0 |
| Derivatives |
1.21 |
0.46% |
| Fixed Interest |
32.87 |
12.43% |
| Liquid Assets |
-0.07 |
-0.03% |
| Money Market |
0.04 |
0.01% |
| SA Bonds |
230.41 |
87.13% |
|
U-PRUCOB |
30.54 |
11.55% |
|
U-PRUHGIN |
2.33 |
0.88% |
|
FUTURES M |
1.21 |
0.46% |
|
MONEYMARK |
0.04 |
0.01% |
Management company:
Prudential Portfolio Managers Unit Trusts Ltd. |
Formation date:
2000/11/01 |
ISIN code:
ZAE000266292 |
Short name:
U-PRUHYB |
Risk:
Unknown |
Sector:
South African--Interest Bearing--Variable Term |
Benchmark:
BEASSA Total Return All Bond Index |
Gareth Bern
Gareth completed a B.Bus Sc [Finance] degree in 1999 at UCT and went on to complete a B. Com [Hons] degree in accounting in 2000, also at UCT. He then spent 3 years completing his articles at Ernst & Young, qualifying as a CA[SA] in 2003. After spending the early part of 2004 working in the asset management division of Ernst & Youngs New York office, he returned to South Africa, joining Prudential. Gareth has the following degrees, B.Bus Sc [Finance], B.Com [Hons] Acc. Gareth holds both the CA [SA] and CFA designations.
Roshen Harry
Roshen Harry is a Portfolio Manager at Prudential Investment Managers, with 10 years’ experience. Having joined the group in May 2006, he is co-Portfolio Manager of Prudential’s Enhanced Income Fund, High Interest Fund and Money Market Fund.
Prudential High Yield Bond comment - Dec 19
2020/02/25 00:00:00
The surprise resumption of load-shedding in December, and the possibility of it extending well into 2020, exacerbated the weak growth outlook, leading many analysts to expect a recession. Despite the subdued inflation environment - November CPI fell to 3.6% y/y - the SARB’s latest model is forecasting one 25bp interest rate cut in Q3 2020. The central bank has been emphasizing the importance of anchoring inflation expectations at or below the 4.5% midpoint of the SARB’s 3-6% inflation target band, rather than boosting growth, thereby putting more pressure on the government to enact reforms and a fiscally responsible 2020 budget.
SA bonds managed to hold their ground in December. This was due to the fresh risk-on sentiment on the part of investors looking for attractive real yields, as local bonds offered among some of the highest real yields in the world (at around 4.5% for longer-dated tenors). In December, the BEASSA All Bond Index posted 1.9%, inflation-linked bonds (the Composite ILB Index) delivered 1.0%, and cash as measured by the STeFI Composite Index returned 0.6%.
The fund returned 9.7% over the past 12 months, compared to 10.3% delivered by the All Bond Index over the same period.
The objective of the fund is to maximise income while securing a steady growth of capital. This is achieved by investing in a diversified portfolio of high-yield bonds in the South African market. This fund is suitable for individuals that require a high level of income from their capital investment with relatively low risk.
