Blackrock Corporate Bond All Stock Pension PDF Factsheet

FACTSHEET

31 August 2022

Pension Fund

CM Blackrock Corporate Bond All Stock

Asset Allocation (as at 31/07/2022)

UK Fixed Interest

Credit Rating Breakdown (as at 31/07/2022)

A

Maturity Breakdown (as at 31/07/2022)

100.0% 100.0%

This document is provided for the purpose of information only. This factsheet is intended for individuals who are familiar with investment terminology. Please contact your financial adviser if you need an explanation of the terms used. This material should not be relied upon as sufficient information to support an investment decision. The portfolio data on this factsheet is updated on a quarterly basis.

Fund Aim

This fund invests in investment grade corporate bonds denominated in sterling. The fund aims to achieve a return consistent with the iBoxx ? Non-Gilts Index. This index covers the broad spectrum of investment grade corporate bonds in issue.

Basic Fund Information

Fund Launch Date Fund Size Sector

ISIN MEX ID SEDOL Manager Name Manager Since

04/04/2006 ?5.0m

ABI Sterling Corporate Bond

GB00B11Z5506 CMBGCO B11Z550 -

Top Ten Holdings

(as at 31/07/2022)

AQ LIFE UP TO 5YR CORP BD IDX S1 AQUILA LIFE 5-15 YR CORP BD IX S1 AQUILA LIFE OVR 15Y CORP BD IDX S1 TOTAL

43.4% 38.0% 18.6%

100.0%

The composition of asset mix and asset allocation may change at any time and exclude cash unless otherwise stated

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Past Performance

20%

10%

0%

Sep 17

Dec 18

Mar 20

Jun 21

Sep 22

31/08/2017 - 31/08/2022 Powered by data from FE fundinfo

CM Blackrock Corporate Bond All Stock Pension

ABI Sterling Corporate Bond

Past performance is not a guide to future performance. Investment value and income from it may fall as well as rise, as a result of market and currency movements. You may not get back the amount originally invested.

Discrete Performance

30/06/2021 - 30/06/2020 - 30/06/2019 - 30/06/2018 - 30/06/2017 30/06/2022 30/06/2021 30/06/2020 30/06/2019 30/06/2018

CM Blackrock Corporate Bond All Stock

-14.2%

0.4%

6.1%

4.2%

-0.2%

ABI Sterling Corporate Bond

-13.7%

2.9%

5.4%

4.9%

0.1%

Information is shown as unavailable if prior to the launch of fund.

Cumulative Performance

31/07/2022 - 31/05/2022 - 31/08/2021 - 31/08/2019 - 31/08/2017 31/08/2022 31/08/2022 31/08/2022 31/08/2022 31/08/2022

CM Blackrock Corporate Bond All Stock

-5.3%

-5.8%

-17.3%

-14.3%

-8.7%

ABI Sterling Corporate Bond

-4.9%

-6.3%

-16.4%

-11.1%

-5.1%

Quartile

3

1

3

4

4

Source: FE fundinfo as at 31/08/2022

Performance figures are in ? Sterling on a single pricing basis, with income (where applicable) reinvested net of UK tax and net of total annual fund charges. These figures do not include any initial charge or other product charge(s) that may be applicable.

Fund Rating Information

Overall Morningstar

-

Rating

Morningstar Analyst

-

Rating

FE fundinfo Crown Rating

The FE fundinfo Crown Rating relates to this fund. However, the Morningstar ratings are based on the underlying fund. These are supplied by the respective independent ratings agencies and are the latest available at the time this factsheet was issued. Past performance is not a reliable indicator of future results.

Other Information

The views, opinions and forecasts expressed in this document are those of the fund manager. Investment markets and conditions can change rapidly and as such the views expressed should not be taken as statement of fact, nor should reliance be placed on these views when making investment decisions.

For further information contact your local sales office or phone Customer Services on 0345 030 6243 (Life and Pensions) 0345 300 2244 (OEIC). Details are also available at clericalmedical.co.uk

Not all products have access to this fund, please refer to the relevant product literature. Full terms and conditions are available on request from us using the contact details provided. Charges, terms and the selection of funds we make available may change. Information on the general and specific risks associated with investing in this fund is available in the relevant fund guide, or KIID where applicable. All information is sourced from Scottish Widows or the relevant fund management group unless otherwise stated.

Quarterly Fund Manager Review

Spread levels in Sterling investment grade credit breached 200 bps amid a broad bond market sell-off. It is difficult to disentangle how much of this is due to the illiquidity premium and how much is due to fundamental concerns around growth, the market looks as if it's readying itself for a significant slowdown in growth. The ICE BofAML Sterling Non-Gilt index delivered a total return of -2.68%, of which the excess return (vs government bonds) was -1.53%. The average option-adjusted spread increased 4 bps. The ICE BofAML Sterling Corporate and Collateralized index delivered a total return of -3.21%, of which the excess return (vs government bonds) was -1.96%. The average option-adjusted spread increased by 6 bps. A similar negative trend was observed across sectors. The financial sector led negative excess returns over the period and delivered -2.57% (vs government bonds) with a similar trend, was observed across most sectors. Higher-rated debt outperformed lower-rated debt as Sterling AAA generated an excess return (vs government bonds) of -0.25% while Sterling BBB reported excess returns of -2.57%. New issuance in June totaled ?3.95Bn.

30/06/2022

The views, opinions and forecasts expressed in this document are those of the fund management house. Investment markets and conditions can change rapidly and as such the views expressed should not be taken as statements of fact, nor should reliance be placed on these views when making investment decisions.

Clerical Medical is a trading name of Scottish Widows Limited. Scottish Widows Limited. Registered in England and Wales No. 3196171. Registered Office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 181655.

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