Citywire Selection Verdict: There is an 80% allocation to bonds and nearly 20% exposure to equities, which is run by Ciaran Mallon. He recently replaced Neil Woodford on this part of the fund.
Experienced managers Paul Read and Paul Causer are responsible for the bond element. They believe core government bond markets offer limited value but have a significant position in bank bonds. This is a risky part of the market, but investors have been rewarded and should anticipate a more volatile ride than our other strategic bond picks.
The equity position gives exposure to solid blue chip equities such as pharmaceuticals giants GlaxoSmithKline and AstraZeneca and the fund yields just under 5%.
For more details view the latest factsheet.