Rathbone Strategic Bond Fund
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Fund snapshot
We aim to deliver a greater total return than the Investment Association (IA) Sterling Strategic Bond sector, after fees, over any rolling five-year period. Total return means the return we receive from the value of our investments increasing (capital growth) plus the income we receive from our investments (interest payments). We use the IA Sterling Strategic Bond sector as a target for our fund’s return because we aim to achieve a better return than the average of funds that are similar to ours.
We aim to deliver this return with a lower volatility than the IA Sterling Strategic Bond sector. As an indication, the value of our fund should be expected to fluctuate less than the sector. Because we measure volatility over a five-year period, some falls may be larger or smaller over shorter periods of time. We aim to limit the amount of volatility risk our fund can take because we want our investors to understand the risk they are taking compared to funds similar to ours.

Bryn Jones
MiFID II charges
I class
Ongoing charges figure (OCF) as at 31.12.2021
0.88%
Transaction costs
0.06%
Total MiFID II charges
0.94%
The MiFID II charges include the Ongoing Charges Figure (OCF) and transaction costs. PRIIPs compliant
How to invest
Visit our ‘how to invest’ pages to learn about your available options to invest in the fund. This includes our distribution partners and direct postal investment.
Portfolio and market insights
Monthly investment note, November 2021
The yield on US 10-year Treasuries fell from 1.58% to 1.46% in November, while the yield on 10-year gilts fell from 1.05% to 0.81%. More meaningful though was the continued flattening in government bond yield curves as investors sold short-dated bonds and bought longer-dated ones, narrowing the yield advantage that the latter usually command over the former.
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Quarterly investment commentary, Q4 2021
One of the biggest trends of the quarter was the sharp flattening in government bond yield curves — the difference between yields of shorter and longer maturity bonds decreased. This was driven by very intense selling of shorter-dated bonds as more people started to expect central banks to hike interest rates sooner. That selling pushed up the yield of short-term bonds by much more than for longer-dated bonds.
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