Newton International Bond Fund
Launch Date 01/02/1991 Initial Charge 4.00%
Fund Size £741M Discount 4.00%
ISIN Number GB0006779655 The total cost of investment after the discount is applied* 0%
Legal Structure OEIC (OEIC) Annual Management Charge 1.00%

*In addition the fund manager will incur stamp duty, bid/offer spreads in the market and stock broking commission, which may be in part passed onto the investor. Charges rounded up to 0.25%

The Newton International Bond fund is managed with the objective of maximising total return from investment in the International Bond market. The fund is essentially conservative in nature and is suitable for an investor who requires exposure to the global bond market, and who is prepared to accept a lower than average level of investment risk.

The fund is managed by Paul Brain on a "thematic" basis, and uses duration management and currency strategy in an active manner. The manager aims to outperform the JP Morgan Global Traded Government Bond Index, and is prepared to take aggressive asset allocation positions against this index.

The fund invests only in bonds issued by governments, supra-national institutions and government agencies. It is highly concentrated, usually holding 20-30 issues. The high credit quality of the portfolio means that this concentrated strategy does not lead to significant absolute risk, although the risk of under performing the benchmark is high.
Key Sector % of fund
   AAA 71.27%
   A 8.93%
   AA 8.81%
   BBB 5.8%
   MONEY MARKET 5.19%

The current asset allocation by quality is shown above and the relative performance of the fund is given in the table below.

Please bear in mind that past performance is not a guide to the future, the value of the investments and any income can go down as well as up and you may not get back the amount you invested.
Cumulative Performance
3 mth 6 mth 1 yr 3 yr 5 yr
Fund 4.43% 9.62% 17.03% 56.88% 45.07%
Sector 0.77% 5.34% 15.06% 33.61% 28.55%
Relative to sector 3.66% 4.28% 1.97% 23.27% 16.52%
Rank within sector 5/48 6/45 17/44 13/35 8/31

Data supplied by Financial Express as at July 2010, bid/bid, income reinvested. Our views are based upon our understanding of the current legislation. You should not act on any of the information without seeking professional advice. clarity is authorised and regulated by the Financial Services Authority. The Financial Services Authority does not regulate all types of Pensions, Mortgages or Taxation Advice.