This fund has an outstanding track record mainly investing into non-investment grade bonds, previously managed by Theo Zemek, and now in the very capable hands of James Gledhill.  The manager accepts that the period ahead will be volatile, but expects to avoid obvious traps, and to use the volatility to buy decent quality bonds at artificially depressed prices. 

 A core holding, though one that might be under pressure if the economy performs worse than most currently expect. 

Objective to achieve a high yield. The fund will invest principally in fixed interest securities including preference shares.

James Gledhill & Nick Hayes