Premier Miton Corporate Bond Monthly Income Fund

Fund manager change: Lloyd Harris joined Premier Miton in August 2020 as the new lead manager of the Premier Corporate Bond Monthly Income Fund and Premier Miton’s Head of Fixed Income. Lloyd was previously at Merian Global Investors where he managed the Merian Corporate Bond Fund, Merian Monthly Income Fund and Merian Financials Contingent Capital Fund. Lloyd is joined by Simon Prior who was co-manager of the Merian Corporate Bond Fund and Merian Monthly Income Bond Fund. Simon will be co-manager of the Premier Corporate Bond Monthly Income Fund. Chun Lee, previous manager of the Premier Corporate Bond Monthly Income Fund, will be part of Premier Miton’s new fixed income investment team.

As a result of the increased breadth and experience of the investment team responsible for the fund, we are seeking to expand the number of countries in which the fund can invest (these are known as eligible markets). This will allow for a broader spread of investments. This will not change the fund’s investment policy and it is not expected that this will change the risk profile of the fund.

Fund update 26 August 2020: The number of holdings in the fund is currently in the range of 40 to 65. The new fixed income investment team, led by Head of Fixed Income, Lloyd Harris, expect this to increase to a range of 80 to 140 holdings. The investment team believe this will benefit the fund by providing greater diversification and improved liquidity (the ease at which a fund manager is able to buy and sell investments) within the fund. Importantly, this change is not expected to affect the risk profile of the fund. The investment objective of the fund has not changed.

The fund aims to provide an income, paid each month. The minimum recommended term for holding shares in this fund is at least 5 years. This does not mean that the fund will achieve the objective over this, or any other, specific time period and there is a risk of loss to the original capital invested. The fund manager aims to achieve the objective of the fund by investing at least 80% in a sterling denominated (or hedged back to sterling, hedging is designed to offset movements in currencies) diversified portfolio of investment grade rated corporate bonds issued by companies.

Many funds sold in the UK are grouped into sectors by the Investment Association (the trade body that represents UK investment managers), to facilitate comparison between funds with broadly similar characteristics. The fund is classified in the IA Sterling Corporate Bond sector which we believe is a meaningful comparator to help investors assess the performance of the fund. 

There is no guarantee that the fund will achieve its objective.

The full investment objective and investment policy for the fund are published in the fund’s Prospectus.

In brief
  • Income paid monthly as interest distributions per share
  • Invests mainly in higher quality corporate bonds
  • Actively managed
  • Managed by experienced fixed income fund managers
This fund might be suitable for investors:
  • who have basic investment markets knowledge or experience of the basic characteristics and risks of funds;
  • who understand that all of their investment is at risk;
  • whose main investment priority is to receive a regular income;
  • who can invest for the long-term, which means at least 5 years;
  • who understand that the amount of income they will receive is not guaranteed and can go up and down;
  • who understand that there are no guarantees that they will get back the full amount originally invested when they come to sell their investment; and
  • who have consulted with an authorised financial adviser.
This fund might not be suitable for investors:
  • who need to fully protect their investment;
  • who want on-demand full repayment of the amount invested;
  • who have no tolerance for risk;
  • who are unable to accept the possibility that they may not get back the full amount originally invested when they come to sell their investment;
  • who are looking for a high income;
  • who are looking to invest for less than 5 years; and
  • who are looking for a guaranteed level of investment growth or a guaranteed amount of income.

The suitability descriptions above are for guidance only. We would always strongly recommend that investors consult with a financial adviser who can help assess risk profiles and the suitability of a fund. We are unable to provide individual investment advice or advise on the suitability of this fund for individual investors.

Before making an investment commitment, investors should:

Like to know more?

If you are interested in this fund or would like any further information, please contact us.

Fund managers

Lloyd Harris

Simon Prior


Risk and other important information

When you invest, your money is at risk because the value of investments, and any income from them, can go down as well as up and you could get back less than you invested. The past performance of an investment is not a guide to how it will perform in the future. Because there are many different types of investment risk and investors have different attitudes to risk, we are not able to categorise our investments as having a specific level of risk. We would therefore strongly recommend that if you do not have professional experience in matters relating to investments, you should speak with a financial adviser before making an investment decision.

Premier Miton Investors is not authorised to provide investment advice or tax advice. Before making an investment decision, it is also important that you read the key documentation for that investment which is available in the literature section of the website, by contacting a financial adviser or by getting in touch with us directly. See ‘Contact us’ for more information or if you are unsure. You can find more details about the specific risks and literature that are relevant to each type of investment on the individual fund, portfolio or investment trust website pages.