Royal London Asset Management
Royal London AM Short Duration Credit Fund
Mega-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.
We also bought a new issue for London-based shopping centre Westfield Stratford City following the early repayment of existing bonds at par,
but over the quarter added a new sterling- denominated hybrid from French utility Engie at a yield well over 6%.
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.
adding lower tier 2 issues from Barclays and Lloyds Bank, as well as a relatively rare issue from Goldman Sachs,
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.
adding lower tier 2 issues from Barclays and Lloyds Bank, as well as a relatively rare issue from Goldman Sachs,
including for example a euro- denominated note by Netherlands-based mutual Rabobank and a sterling-denominated note issued by Natwest.
adding lower tier 2 issues from Barclays and Lloyds Bank, as well as a relatively rare issue from Goldman Sachs,