Prudential High Yield Bond Fund
MANAGEMENT Fund Manager's Comment
David Knee, BSc(Eco), MSc(Eco), ASIP
David joined Prudential Portfolio Managers SA, as Head of Fixed Income in January 2009. Prior to Prudential, he was the senior fixed interest portfolio manager in the London office of M-G Investments. David worked at Prudential in South Africa in 1999 and 2000, and was responsible for establishing our current fixed interest process. Before joining M-G, David worked for Hill Samuel Asset Management as a fixed income fund manager, managing both life and pension funds for a variety of clients. David graduated from the London School of Economics with a BSc in Economics and from Birkbeck College with an MSc in Economics. He is an Associate of the Institute of Investment Management and Research.
Gareth Bern, B.Bus.Sc., B.Com. (Hons), CA(SA), CFA
Gareth completed a B.Bus Sc [Finance] degree in 1999 at UCT and went on to complete a B. Com [Hons] degree in accounting in 2000, also at UCT. He then spent 3 years completing his articles at Ernst - Young, qualifying as a CA[SA] in 2003. After spending the early part of 2004 working in the asset management division of Ernst - Youngs New York office, he returned to South Africa, joining Prudential. Gareth has the following degrees, B.Bus Sc [Finance], B.Com [Hons] Acc. Gareth holds both the CA [SA] and CFA designations.

The objective of the fund is to maximise income while securing a steady growth of capital. This is achieved by investing in a diversified portfolio of high-yield bonds in the South African market. This fund is suitable for individuals that require a high level of income from their capital investment with relatively low risk.

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SectorSouth African-Interest Bearing-Variable Term
Sector Rank: 19 out of 27
(lump sum over 3 years to 31 July 2019)
Overall Rank: 154 out of 1038
(lump sum over 3 years to 31 July 2019)
R1000 invested on 31 July 2016 was worth R 1268 at 31 July 2019
( 8.22% annual compound return)
R100 per month since 31 July 2016 was worth R 4103 at 31 July 2019
( 8.34% annual return compounded monthly)
Formation Date:01 NOV 2000 Holdings:51
Original Price:100 Pricing:Forward
Top Holdings on 31 July 2019
Share (Sector)No.Value% of Fund
FUTURES M (Derivatives)01,255,403 0.39 %
U-PRUCOB (Income)50,945,96751,567,508 16.05 %
R2048 (Bond)39,760,00037,401,222 11.64 %
CASH (Cash on call)0-42,141 -0.01 %
MONEYMARK (Money Market)048,809 0.02 %
TOTAL R90,230,80128.09%

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