Marlborough Global Bond Fund Class P Inc

Global Bonds

Rated Fund 2013-20. A one-stop-shop for cautious bond investors    

Marlborough Global Bond is no stranger to Money Observer’s awards, having picked up the Best Global Bond Fund award in six of the past eight years. It’s a one-stop-shop for cautious bond investors. The fund’s managers adopt a cautious approach to investing that aims to capture gains when markets rise, while protecting investors’ money when they fall. Its broad-based, conservative portfolio makes this a decent core holding. It pays a competitive yield of 3% and distributes income half-yearly.

At the helm is Geoff Hitchin, who has now run it for 32 years. Danny Fox joined Marlborough in 2018 as assistant manager. They believe that by holding a good spread and selecting individual bonds carefully, they can manage volatility and achieve consistent performance.

The managers invest across the globe in bonds with different maturities and credit ratings and in different currencies. The fund has almost 500 holdings – much more than most comparable funds. The largest holding accounts for just 1.1% of the portfolio. At the end of 2019 the fund’s largest exposure in terms of credit quality was to BBB-rated bonds, which are classed as investment grade, where it had 43.5% of assets. It had a good spread of assets geographically: 32% in the US and 26% in the UK. The dollar and sterling are its main currency exposures.

Narrative and ratings content all as of 01 January 2020.

See all Money Observer rated funds
Name
Marlborough Global Bond Fund Class P Inc
Manager
Marlborough Fund Managers Limited
Type
Unit Trust
ISIN
GB00B8H7D001
Sector
Global Bonds
Launched
31/12/2012
OCF
0.43 %
Risk Rating
5
3 Year Sharpe
0.51
3 Year Alpha
0.84
Yield
2.8 %
Benchmark
IA Global Bonds
The aim of the Fund is to provide both income, that is money paid out from an investment as interest, and capital growth, that is to increase the value of your investment. The Fund aims to outperform the average of the IA Global Bonds sector over any 5 year period, after any charges have been taken out of the Fund. However, there is no certainty this will be achieved.
Holding %
United Kingdom of Great Britain and Northern Ireland 4.5% 1.38 %
United States Treasury Bonds 2.25% 1.24 %
Tesco Personal Finance plc 5% 0.72 %
EDP Finance B.V. 8.62% 0.68 %
U.S. Treasury Security Stripped Interest Security 0.66 %
WELLTOWER INC 4.5% 0.62 %
Sky Limited 0.60 %
CRH Finance Plc 4.12% 0.60 %
Wm. Morrison Supermarkets PLC 2.5% 0.55 %
McDonald's Corporation 5.88% 0.55 %
Name
Marlborough Fund Managers Limited
Address
BL1 4QP, Bolton, United Kingdom
UCITS
Yes
Legal Structure
Unit Trust

Managers

Danny Fox
Joined 11/01/2018

Danny began his career in fund management in 1993 after graduating with a BSc. Honours in Business, Finance & Economics from the University of East Anglia. After eight years at Sun Alliance (later to become RSA) Investment Management, where he managed government and corporate bond funds, he moved to Rothschild Asset Management to specialise in managing corporate bond portfolios. Danny then managed bond funds for Insight Investment, following its acquisition of Rothschild. More recently, he has managed bond portfolios at Co-operative Asset Management and worked on the construction of a golf course. Danny joined Marlborough in 2018 as Assistant Fund Manager.

Niall McDermott
Joined 11/01/2018

Niall graduated with a master’s degree in Investment Fund Management from the University of Glasgow and joined Marlborough in 2016 as an investment analyst. His role is to develop investment recommendations and assist in the day-to-day running of the funds. Niall has successfully completed Level III of the CFA programme.

Geoff Hitchin
Joined 08/05/1987

Geoff spent nearly 20 years as a tax officer and tax consultant before founding Marlborough Fund Managers in 1986.

Data provided by Morningstar.

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