Tideway High Income Real Return Fund

The Tideway High Income Real Return Fund is a mixed-asset target absolute return fund. Active risk hedging provides a degree of capital protection and reduces the volatility of returns.

The Fund aims to deliver positive absolute capital growth net of fees on a rolling 12-month basis regardless of market conditions, with low to medium volatility.

The Fund has a target return of 3-month £ Libor plus 3% p.a. net of fees on a rolling three year basis. The Fund invests primarily in debt and hybrid capital securities (typically 60%-80% of the NAV of the Fund), and in equities and equity-related securities (typically 20%- 40% of the NAV of the Fund).

Fund Objectives

  • Target net return of 3% p.a. on a rolling 3-year basis and a positive return on a rolling 1 year basis
  • Low to Medium Volatility - SRRI Risk Rated 3

Investment Strategy

  • Mixed Assets – Typically 60%-80% Hybrid Capital / 20%-40% Equity
  • Household name portfolio from UK, EU and US
  • Multi-currency Assets - GBP EUR USD (FX risk hedged out)
  • 30 % Limit on Contingent Convertible Securities (CoCo’s)
  • Up to 100% of bonds may be Sub-Investment Grade

Document Library

Note: it is important that before you invest, you should read the relevant Prospectus and KIID documents. These documents and the latest factsheet can be found in our Document Library.

Top 10 Holdings

These are the Fund's top 10 holdings, as a % of NAV, as at 28-2-2019.

US TIPS 02/46 9.1%
Lloyds (13%, Perp) 6.6%
Rothesay Life (6.875%, Perp) 5.6%
UK GILT (1%, 22/04/24) 4.9%
Nationwide (10.25%, 29/07/2049) 4.7%
Pension Insurance Corp (8%, 11/23/26) 4.6%
German Bunds (0.25%, 15/02/29) 4.2%
Southern Gas Networks (4.875%, 21/12/20) 4.2%
CYBG (8%, Perp) 4.1%
Royal Bank of Scotland (7.648%, Perp) 3.8%

 

Top Bond Holdings

These are the Fund's top bond holdings, as a % of NAV, as at 28-2-2019.

US TIPS 02/46 9.1%
Lloyds 6.6%
Rothesay Life 5.6%
UK GILT 4.9%
Nationwide 4.7%

 

Top Equity Holdings

These are the Fund's top equity holdings, as at 28-2-2019.

Phoenix 1.2%
Aviva 1.1%
Sage 0.7%
Vivendi 0.6%
Amundi 0.6%

 

Tideway Investment Group comprises the following entities: Tideway Investment Partners LLP; Tideway Wealth Management Limited and Tideway Asset Management Limited. Tideway Asset Management Limited and Tideway Wealth Management Limited are appointed representatives of Tideway Investment Partners LLP, which is authorised and regulated by the Financial Conduct Authority. FCA number: 496214.

Tideway Investment Partners LLP
107 Leadenhall Street
London EC3A 4AF

+44 (0)20 3143 6100
info@tidewayinvestment.co.uk

© Tideway Investment Group 2019