Legal & General

Dynamic Bond Trust.

R CLASS ACCUMULATION

Seeking out the best opportunities wherever in bond markets they are found. This flexible fund is run by Richard Hodges.

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About the fund

This strategic bond fund can seek out the best opportunities wherever in bond markets they are found. The highly flexible portfolio is run by Richard Hodges.

  • The fund can invest across the full fixed income spectrum, from government bonds to high yield, and make use of derivatives to enhance returns.
  • Investment ideas can be found anywhere in global bond markets, as well as from our macro-economic or asset allocation views.
  • Our bond team are well-resourced and highly experienced. The awards won by the Dynamic Bond Trust and its manager Richard Hodges are testament to the success of our approach.
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Performance

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Charges

Inital charge 3.00%
AMC 1.25%
Performance fee No
OCF 1.42%
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Fund Facts

Fund size
IMA Sector
Number of holdings
Launch date
Benchmark description
Fund type
Ex-dividend date(s)
Income payment date(s)
Fund domicile
Fund currency
ISA allowable
SIPP allowable
Income frequency
Distribution type (Int or Div)
Minimum lump sum investment
Minimum regular investment
Minimum top-up
ISIN (income)
Sedol
Charges to capital
Historic yield
Distribution yield
Underlying yield
Duration
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Portfolio Breakdown

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Top 10 holdings

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Awards and ratings

Rayner Spencer Mills, R rated

 

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Ask us a question

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Prices

Current Change
Price (GBP) Bid
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News

May 2013

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Dynamic Bond Trust: Quarter 1 2013.

During the first quarter we were active in managing the fund’s net exposure to non-financial investment grade bonds, trading tactically around the disruptive events of the Italian election and Cyprus bail out.

We also sought to give the portfolio more of an inflation-linked bias, kept the duration of the portfolio low and were alert for selected opportunities in peripheral Europe. This year, economic and corporate fundamentals are likely to come to the fore.

April 2013

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Dynamic Bond Trust: Quarter 1 2013.

During the first quarter we were active in managing the fund’s net exposure to non-financial investment grade bonds, trading tactically around the disruptive events of the Italian election and Cyprus bail out.

We also sought to give the portfolio more of an inflation-linked bias, kept the duration of the portfolio low and were alert for selected opportunities in peripheral Europe. This year, economic and corporate fundamentals are likely to come to the fore.

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Dynamic Bond Trust: March 2013

Trading in the portfolio during March was relatively light, as we believed that the portfolio was positioned appropriately for the prevailing environment. What action we did take was focused on taking out a little bit of risk overall and modifying slightly where we are taking risk. 

March 2013

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Dynamic Bond Trust: February 2013

With little return to be had from interest rates for now, we have sought to take advantage of credit market volatility. This has mainly been through investment grade positioning. The fund moved from a significant net short position at the end of January towards a more neutral position by month-end, locking in gains from spreads moving wider in the wake of the Italian election.

February 2013

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Dynamic Bond Trust: January 2013

Positive credit market performance tailed off in the second half of January as political uncertainty in Italy and allegations of corruption within Spain's ruling party dented investor exuberance.

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Dynamic Bond Trust: Quarter 4 2012

The fund posted positive returns in each of the three months of the quarter, with credit and interest rates positioning adding value over the period. With positive credit market performance continuing through December, we took the opportunity for profit-taking.

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Dynamic Bond Trust: December 2012

With a positive credit market performance continuing through December, we took the opportunity to take profits on bonds which had rallied significantly. As a consequence, risk was reduced over the month. 
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Literature

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About the fund manager

Richard Hodges

Richard Hodges, Head of High Alpha Fixed Income

Richard Hodges joined Legal & General in 2007 to be the fund manager of the Dynamic Bond Trust. Prior to this he was at Gartmore Investment Management where he was a Senior Investment Manager and Head of Pan European portfolio construction for fixed income mandates between 1998 and 2006, latterly responsible for the co-management of Arrakis Fund Limited, a global credit hedge fund.

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Video

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Additional literature

Every
Day
Matters.

This is not a consumer advertisement. It’s intended for professional financial advisers and should not be relied upon by private investors or any other persons.

The value of investments and any income taken may fall as well as rise, and investors may get back less than they invest. Past performance is not a guide to future performance. Exchange rate changes may cause the value of any overseas investments to rise or fall. Details of the specific and general risks associated with the fund mentioned are contained within the Key Investor Information document. Data source: FundsLibrary.

Legal & General (Unit Trust Managers) Limited. Registered in England No. 1009418. Registered office: One Coleman Street, London EC2R 5AA. Authorised and regulated by the Financial Services Authority.

© Legal & General Group plc 2013

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