Tideway High Income Real Return Fund

The Tideway High Income Real Return Fund is a mixed-asset income fund with target to deliver net income of UK CPI + 3 % on a rolling basis. The Fund invests in fixed income securities including hybrid capital, Equities and Investment Trusts including Alternative Assets such as Infrastructure, Renewable Energy and Property.

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 28-02-2020.

Nationwide (10.25%, 29/07/49) 7.9%
Aquila Renewables Fund 5.8%
UK GILT (0.125%, 08/10/41) 5.1%
Punch Taverns (7.875%, 30/12/25) 4.9%
Hipgnosis Songs Fund Ltd 3.9%
Permanent TSB (8.625%, Perp) 3.9%
Orsted (0.375%, 16/05/24) 3.7%
AA Bond Co Ltd (5.5%, 31/07/22) 3.4%
Co-Op Group Ltd (11%, 18/12/25) 3.2%
Just Group (8.125%, 26/10/29) 3.0%


Top Bond Holdings

These are the Fund's top bond holdings, as a % of NAV, as at 28-02-2020.

Nationwide 7.9%
UK GILT 5.1%
Punch Taverns 4.9%
Permanent TSB 3.9%
Orsted 3.7%


Top Equity & IT Holdings

These are the Fund's top equity holdings, as at 28-02-2020.

Aquila Ren. Fund 5.8%
Hipgnosis Songs Fund LTD 3.9%
Tetragon 2.9%
Toro 2.4%
Secure Income 2.2%


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
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+44 (0)20 3143 6100

© Tideway Investment Group 2020