Royal London Asset Management
Royal London AM Sterling Credit Fund
Sep 2026 → Sep 2026
Our archive holds 1 letter from this strategy and positions in 11 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year · follow all of Royal London Asset Management for every strategy.
Performance
as of Sep 30, 2026 · net of fees · GBP · Z Inc GBP
- YTD+2.8%
- 1Y+2.8%
- 3Y · total+24.4%
- 5Y · total+7.0%
| YTD | 1Y | 3Ytotal | 5Ytotal | |
|---|---|---|---|---|
| Royal London AM Sterling Credit Fund | +2.8% | +2.8% | +24.4% | +7.0% |
Calendar years
- 2025+6.6%
- 2024+13.6%
- 2023+9.4%
- 2022−21.5%
Disclaimer
These figures are copied from the manager’s latest letter, as of Sep 30, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.
Read full disclosures →What it bought and sold
- AddedJeffries GroupSep 2026
we also added geographic diversification through a new senior euro- denominated bond from US investment bank Jeffries Group – this being the debut euro issue for the company and hence available at attractive levels.
- AddedThe AASep 2026
We added a senior secured new issue from automobile recovery provider the AA and Sunshine Mortgage funding.
- AddedCanary Wharf GroupSep 2026
There were numerous opportunities to add to favoured bonds in the secondary market, including ICSL, backed by student loans and London property CMBS Canary Wharf.
Examples included sterling denominated issues from US telecoms giant AT&T and the partially state-owned German telecommunications company Deutsche Telekom, which both came at above market credit spreads.
In the subordinated area, we added a Tier 2 bond issue from UK mortgage provider Paragon, a small but well capitalised UK specialist lending bank.
- AddedRoquette FreresSep 2026
Further afield, we added a number of attractive euro-denominated hybrid deals, for instance new issues from Germany-headquartered life sciences company Bayer, multinational food distributor Sysco and in the secondary market Roquette Freres, Europe’s leading starch producer, used across food, health and cosmetics products.
In technology, we bought Amazon, the global e-commerce platform, which came to market twice over the quarter, issuing in multiple currencies and maturities.
Examples included sterling denominated issues from US telecoms giant AT&T and the partially state-owned German telecommunications company Deutsche Telekom, which both came at above market credit spreads.
Further afield, we added a number of attractive euro-denominated hybrid deals, for instance new issues from Germany-headquartered life sciences company Bayer, multinational food distributor Sysco and in the secondary market Roquette Freres, Europe’s leading starch producer, used across food, health and cosmetics products.
- AddedSunshine Mortgage FundingSep 2026
We added a senior secured new issue from automobile recovery provider the AA and Sunshine Mortgage funding.
- AddedNationwide Building SocietySep 2026
We also added a new AT1 bond from Nationwide at a yield of around 8%.
Further afield, we added a number of attractive euro-denominated hybrid deals, for instance new issues from Germany-headquartered life sciences company Bayer, multinational food distributor Sysco and in the secondary market Roquette Freres, Europe’s leading starch producer, used across food, health and cosmetics products.
- AddedICSLSep 2026
There were numerous opportunities to add to favoured bonds in the secondary market, including ICSL, backed by student loans and London property CMBS Canary Wharf.
In the banks and financials sector, as well as adding new issues of senior bonds from favoured names such as HSBC we also added geographic diversification through a new senior euro- denominated bond from US investment bank Jeffries Group – this being the debut euro issue for the company and hence available at attractive levels.
Also held
- Barclays Bank PLC
- Intu Metrocentre Finance
- Electricite De France
- Aviva