Royal London Asset Management
Royal London AM Investment Grade Short Dated Credit Fund
Large-cap
Jun 2026 → Jun 2026
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What it bought and sold
We did add modestly to senior bonds, including a new green senior sterling-denominated issue by Dutch bank ABN AMRO.
Here we participated in new deals including subordinated bond new issues from BNP Paribas Cardif, an international insurance company based in France and part of the BNP Paribas Group.
In the social housing sector we added a new issue from Sage Housing, England’s largest provider of new build affordable housing for the past five years.
but over the quarter added a new sterling- denominated hybrid from French utility Engie at a yield well over 6%.
We also added several AT1 new issues, including a sterling- denominated note issued by Natwest.
We also bought a new issue for London-based shopping centre Westfield Stratford City following the early repayment of existing bonds at par, which represented a premium to existing market pricing.