STATISTICS PA QUALITY FUNDS
Corporate and high-yield bonds (cont)
Fund name Manager name Morningstar S&P fund OBSR M’star AR 3-year 3-year Domicile Curr Min init Fund
Rating ratings % chg volatility inv (£) size (£m)
Threadneedle High Yield Bd Ret Net Threadneedle Invest S’vcs ���� AA/V6 A 70.02 11.28 UK £ 2,500 692.9
Muzinich Europeyield H/Y Acc Muzinich & Co ���� AA/V6 68.7 18.39 Ireland � 85,783 149.01
BlueBay High Yield Bond Acc R � BlueBay Asset Management ���� AAA/V5 AAA � 66.78 17.65 Luxembourg � 8,578 1,901.09
Schroder ISF Glbl HY I £ Hdg Acc Schroder Invest Mgt Lux ���� A/V5 64.6 10.76 Luxembourg £ N/S 146.94
Cap Int’l Global High Inc Opp Xd £ Capital International ���� AA/V5 62.36 10.62 Luxembourg £ N/S 663.05
Kames Investment Grade Bd A Inc Kames Capital ���� AA 41.76 7.38 UK £ 500 256.67
L&G Fixed Interest Trust R Inc Legal & General UT Mngrs ���� AA/V4 Under Rev 40.77 7.91 UK £ 500 1,228.07
Kames Invest Grade Global Bd A � Kames Capital ���� A 36.66 17.27 Ireland � 85,783 N/S
Invesco Euro Corporate Bd A Acc Invesco Global Asset Mgt ���� AA/V4 AA � 35.41 16.34 Luxembourg � N/S 1,942.69
IP Corporate Bond Acc Invesco Fund Managers ���� AA/V4 AAA � 33.82 7.89 UK £ 500 5,454.92
M&G European Corp Bond A Inc M&G Group ���� A/V4 27.98 13.52 UK £ 500 929.26
BlueBay Invest Grade Bd Acc B � BlueBay Asset Management ���� AAA/V3 A 26.98 14.51 Luxembourg � 85,783 7,046.12
Standard Life Sicav Eurp Corp Bd D Standard Life Investments ���� AA/V4 26.85 15.29 Luxembourg � 857,830 1,917.37
Fixed income Europe
Fund name Manager name Morningstar S&P fund OBSR M’star AR 3-year 3-year Domicile Curr Min init Fund
Rating ratings % chg volatility inv (£) size (£m)
Pimco GIS Glbl Real Ret Ins � Hdg Pimco Global Advisors (Ire) ����� AA 49.61 18.46 Ireland � N/S 2,290.76
Schroder ISF US Dollar Bd A � Hdg Schroder Invest Mgt Lux ����� AA/V2 30.83 16.15 Luxembourg � 857.83 510.28
BNY Mellon Euroland Bd C � Acc BNY Mellon Asset Mgt ����� AAA/V3 24.75 15.61 Ireland � 4.29m 1,236.73
LM WA GMS A Acc (Hedge) � Legg Mason Glbl Fds (Dub) ���� A/V4 53.73 20.3 Ireland � 857.83 1,072.19
Pimco GIS Euro Bond Ins Acc Pimco Global Advisors (Ire) ���� AA 24.66 14.51 Ireland � N/S 802.23
HSBC GIF Euro Bond A Acc HSBC Investment Fnds (Lux) ���� AA/V3 � 21.07 14.1 Luxembourg � N/S 65.7
Data Source: © 2011 Morningstar, Inc. All Rights Reserved. The information contained on the following pages: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete
or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Performances have been calculated on a bid-to-bid, £, gross income
basis. Volatility is expressed as standard deviation of 36 monthly total returns (bid-to-bid). Fund sizes are as reported by the management groups and the latest available to Morningstar. The Morningstar Rating is calculated based on a fund’s total returns,
adjusted for risk and sales charges, relative to other funds in its Morningstar Category. The Overall Morningstar Rating published here is based on a weighted average of a fund’s 3-, 5-, and ten-year ratings, depending on the length of its record.
ENHANCED MORNINGSTAR ANALYST RATINGS
FOR FUNDS
Morningstar has revised its Analyst Rating scale to now
include three positive ratings (Gold, Silver and Bronze),
one Neutral and one Negative rating. These ratings
replace the previous scale of Elite, Superior, Standard,
Inferior, and Impaired.
The top three tiers are expressed as medals and are
reserved for funds that Morningstar analysts believe
have sustainable advantages that position them well
versus peers or the relevant benchmark on a riskadjusted
basis over a full market cycle. These medals
are as follows:
�����
To arrive at a rating, Morningstar analysts evaluate
five key pillars which they consider critical to a fund’s
ability to succeed:
� People
� Process
� Parent
� Performance
� Price
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46 PORTFOLIO ADVISER [www.portfolio-adviser.com] JANUARY 2012
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