Monument Bond Fund

Asset Backed Securities
ISIN
GB00BDD9NF03
Sedol
BDD9NF0
1.08
NAV
As at 16 May 2025
2.06%
Performance YTD

The fund aims to provide an attractive level of income relative to prevailing interest rates whilst maintaining a strong focus on capital preservation. The fund aims to provide an attractive level of income relative to prevailing interest rates whilst maintaining a strong focus on capital preservation. The Monument Bond Fund does not offer a capital guarantee or principal protection mechanism. Efforts to preserve the fund's capital will be focused on the selection of underlying mortgage European and Australian asset backed securities where the investment manager has a high degree of confidence as to the issuer's ability to repay the principal due.

A fund that invests across the full range of investment grade European asset-backed securities (ABS).

Monument Bond Fund uses the natural advantages of the ABS asset class and a vastly experienced team to target stable, attractive returns with a strong focus on capital preservation.

Investment objective

The Fund aims to provide an attractive level of income relative to prevailing interest rates whilst maintaining a strong focus on capital preservation.

Why invest?

  • ABS normally offers a higher yield for a given rating or maturity than more mainstream investments such as government or corporate bonds.
  • ABS are virtually all floating rate, making them less sensitive to interest rate changes than fixed rate bonds.
  • Features such as credit enhancement, loss-absorbing reserve funds, and the legal separation of issuer and asset pool are built-in protections for ABS investors.
  • Transactions are highly transparent with detailed reports showing the performance of each loan in the asset pool, enabling investors to conduct their own research.
  • ABS remains a poorly understood asset class, meaning those that put in the effort and expertise can be rewarded with a complexity premium.
     

Investment Team

Insights

All data is as at 14 Oct 2024 unless otherwise indicated.

Fund performance

Performance for calendar years

2023 2022 2021 2020 2019 2018 2017 2016 2015
L Inc (Net) GBP 10.5% -2.4% 2.2% 0.7% 3.3% 0.2% 5.6% 4.2% NA

All data is as at 16 May 2025 unless otherwise indicated.

Fund data
Portfolio Manager TwentyFour Asset Management LLP
Fund Domicile United Kingdom
Type of Fund UK Authorised UCITS Compliant OEIC
Share Class Currency GBP
Year End 31 March
Index Bank of England SONIA Overnight Rate
Fund Launch Date 10 Aug 2009
Share Class Launch date 19 May 2016
Distribution Type Dist
Distribution Frequency Semi-Anl
Dealing Daily
Minimum investment 50,000,000.00
ISA/SIPP Eligible Yes
Fund Registrations GB
Share Class Registrations GB
Nav Information
Highest since launch 1.09
Lowest since launch 0.98
Fund size in mln. 2,103.73
Fees And Expenses
Management fee 0.35%
Identifiers
ISIN GB00BDD9NF03
Bloomberg PTWFMLI LN
SEDOL BDD9NF0
Parties
Authorised Corporate Director Apex Fundrock Ltd
Auditor Grant Thornton UK LLP
Depository Northern Trust Investor Services Limited
Registrar Apex Fundrock Ltd

Available Share Classes

Share class Currency ISIN Distrib. Type Launch date Management fee
A acc (Net) GBP GB00B3VH8W86 Acc Retail 10 Aug 2009 1.05%
I Acc (Gross) GBP GB00B4XMPS34 Acc Institutional 1 Dec 2009 0.60%
I Acc (Net) GBP GB00B3V5V897 Acc Institutional 13 Aug 2009 0.60%
I Inc (Gross) GBP GB00B4XCQT18 Dist Institutional 1 Dec 2009 0.60%
I Inc (Net) GBP GB00B3XVTT21 Dist Institutional 13 Aug 2009 0.60%
L Acc (Gross) GBP GB00BDD9NJ41 Acc - 7 Mar 2017 0.35%
L Acc (Net) GBP GB00BDD9NG10 Acc - 19 May 2016 0.35%
L Inc (Gross) GBP GB00BDD9NH27 Dist - 21 Sep 2016 0.35%
L Inc (Net) GBP GB00BDD9NF03 Dist - 19 May 2016 0.35%

Subject to change, without notice, only the current prospectus or comparable document of the fund is legally binding.

* TER includes performance fee where applicable

All data is as at 14 Oct 2024 unless otherwise indicated.

Rating Structure

Country Weighting

Sector Exposure

Maturity Exposure

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View all documents View latest documents

Document Date EN
Factsheets & Commentaries
Factsheet Apr 2025
Monthly Commentary Apr 2025
TwentyFour
TwentyFour General Application Form Jul 2023
UCITS KIIDs
KIID Jan 2025
Legal Documents
Consumer Facing Disclosure Jan 2025
Instrument of Incorporation Jan 2025
Sales Prospectus Jan 2025
Financial Reports
Annual Report Mar 2024
Semi-Annual Report Sep 2023

RISKS

Subject to change, without notice, only the current prospectus or comparable document of the fund is legally binding.

  • Limited participation in the potential of single securities

  • Success of single security analysis and active management cannot be guaranteed

  • It cannot be guaranteed that the investor will recover the capital invested

  • Derivatives entail risks relating to liquidity, leverage and credit fluctuations, illiquidity and volatility

  • The structure of ABS/MBS and the pools backing them might be intransparent which exposes the subfund to additional credit and prepayment risks (extension or contraction risks) depending on which tranche of ABS/MBS is purchased by the subfund

  • Typically, sub-investment grade securities will have a higher risk of default, and are generally considered to be more illiquid than investment grade securities

  • Information on how environmental and social objectives are achieved and how sustainability risks are managed in this Fund may be obtained from here.

  • The Sub-Fund’s investments may be subject to sustainability risks. The sustainability risks that the Sub-Fund may be subject to are likely to have an immaterial impact on the value of the Sub-Funds’ investments in the medium to long term due to the mitigating nature of the Sub-Fund’s ESG approach.
  • The Sub-Funds' performance may be positively or negatively affected by its sustainability strategy.

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