Raymond James REAMS Unconstrained Bond A Hedged Acc GBP

ISIN: LU1958208057 | MEX: N/A | CITI: AZUN

Buy 1,243 GBX
Sell 1,243 GBX
Price Change 0.24190%

Accumulation

Past Performance

8th Feb 2021 to 8th Feb 2022-
8th Feb 2022 to 8th Feb 2023-
8th Feb 2023 to 8th Feb 20246.43%
8th Feb 2024 to 8th Feb 20254.58%
8th Feb 2025 to 8th Feb 20268.84%

Invest in this fund within an ISA, JISA, SIPP or Investment Account

OVERVIEW
CHARTS & PERFORMANCE
COMPOSITION
KEY FEATURES & DOCUMENTS
MANAGEMENT TEAM

Objectives and Approach

Why is this fund on our Foundation Fundlist?

There are lots of options for investors wanting to include bonds their portfolios. Some funds specialise in particular areas including corporate bonds, government bonds or riskier high yield debt. Others are generalists, offering a portfolio that spans a wide variety of areas, with the manager aiming to capitalise on the best opportunities and to adapt to the changing market environment. A risk to bonds is rising inflation and interest rates, which can send yields higher and prices lower, but a flexible approach can help navigate this and maximise the potential of the asset class through good times and bad. That’s the goal of the Raymond James REAMS Unconstrained Bond Fund, which is managed by a specialist bond team based in Indianapolis, Indiana with $22bn under management across their range. This fund represents one of the team’s flagship strategies. The managers aim to be highly flexible and opportunistic, with their interpretation of the macroeconomic environment expected to be the primary driver of performance. There is no regard to any index or competitor benchmark, meaning the managers are free to invest in bonds from across the globe in the best way they see fit for the prevailing environment. There is generally a bias to the US as the largest market and the one the team know best, with the impact currency movements stripped out of returns for UK investors buying the standard ‘currency hedged’ unit classes. The team are prepared to forego income in pursuit of long-term overall returns, taking risk only when they believe appropriately compensated to do so. Their decisive approach has historically generated strong returns, keeping up when bonds are rising and tending to cap the falls – although past performance is not a reliable guide to future returns. Taking risks when the opportunities arise and focus on preserving capital when things aren’t looking so good can be a tough ask at times, and there’s no guarantee the managers will get their tactics right, but the objective will resonate with a lot of investors who simply wish to make the most of the opportunities in bonds as an asset class and the important diversification they offer. The mindset does mean income from the fund can fluctuate more than it does with a typical bond fund. There is no income target or objective, so those selecting income units will need to bear in mind that pay outs arise from portfolio positioning rather than dictating it. This means the fund could pair well with more traditional bond funds with explicit income objectives, or it simply represent a core part of an investor’s bond exposure where income isn’t a requirement. Getting the ‘big picture’ right is what the team spend most time on and should be the main determinant of performance. Very importantly, they are also able to move the portfolio around quickly. As a result, the strategy is highly flexible on interest rate sensitivity, credit quality, sector exposure and geographic allocation. However, no managers are immune to being wrongfooted by markets in any given period. It should also be noted the risks can be higher than for a standard bond fund. It can invest in all major parts of the bond market, including government, investment grade, and higher-risk high yield bonds as well as other specialist areas. It can also employ derivative instruments, such as options and futures contracts, as an investment tool. This is because the managers aim to be reactive to sharp market moves, and often the easiest and quickest way to gain exposure to a certain asset class or investment view is through these markets. As a part of the Raymond James Financial, Inc. group of companies we can offer an exclusive, cheaper version of the fund which we believe is excellent value for an actively managed fund of its type. Reams Asset Management is an affiliate of Raymond James and Associates, and Charles Stanley is part of the Raymond James Financial, Inc. group of companies.

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Key Information

Inception	25th Nov 2022
Historic Yield	0%
Sector	IA Sterling Strategic Bond
Fund Size	£1404.058mn
Fund Type	SICV
Classification	Accumulation

Charges

Total Ongoing Charges Please note that whilst we endeavour to show all charges associated with specific funds, sometimes this is not possible due to the information not being made available by the fund provider. In such cases transaction or incidental cost information may be missing.	1.5489%
Initial Charge	0%
AMC	0.25%
Our Platform Charge We charge a platform fee of 0.30%. Our charges are shown on our rates and charges sheet	0.30%

Cost and Charges Information

This calculator provides you with costs and charges information regarding our charges and, where relevant, the costs within this investment product

Account Type

Investment Account
Stocks & Shares ISA
SIPP

Annual charges

These are the annual costs based on an initial investment amount of over 1 year assuming a net zero growth rate

Cost Category	% of Investment	lump sum costs
Our annual fee	0.30%
Dealing charges	N/A
Product provider costs	1.5489%
Total (£)
Total (%)

Cumulative effect of charges on your investment's return

This illustration assumes that costs occur evenly throughout the year, charges are paid out of the investment evenly throughout the year, and that an annual growth rate of applies evenly throughout the year, before any charges including product charges

lump sum invested with an assumed growth rate of	1 year	years
What you might get back at with no charges applied
Annual charges
Effect of charges on return (%)
Effect of charges on return (£)
What you might get back at with charges applied

This illustration is not a forecast of future investment performance but merely a means to demonstrate the potential impact of costs and charges for an assumed return of . Whilst we make reasonable endeavours to ensure the accuracy of third party charges information, this is intended for illustrative purposes only and should not be relied upon. We do not warrant or represent that this information is accurate, complete or up to date, therefore we accept no responsibility or liability for its use

Performance

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Current Comparators

Cumulative Performance

1 month	3 months	6 months	1 year	3 years	5 years
0.49%	0.89%	3.15%	8.84%	21.15%	-

Important Information
Headline performance can mask the true characteristics of a fund. Without fully understanding how a fund is managed, you may inadvertently become exposed to an undesirable level of risk to your capital. Some funds carry a dilution levy which reduces the number of units realised on any initial investment as an initial charge. If this fund carries such a levy it should be detailed in the Key Investor Information Document (KIID), which we must provide and you should read before investing.

The charts and performance data shown are supplied by an external data provider and may contain data that appears to precede the introduction of the clean unit class for this fund. In such cases, historical data has been synthesised at the entire discretion of that external provider as realistically as possible using historical data recorded against the previously available commission-paying version of the fund, adjusting for fees in the process.

Composition

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Important Documents

The documents listed below are the latest versions made available to our data provider by the fund management group, but may not necessarily reflect the applicable charges that would be levied should you purchase this fund via Charles Stanley Direct. You should treat the charges and other figures shown in the 'Overview' tab as accurate.

Fund Provider Factsheet
The Fact Sheet is supplied on a monthly basis by the management group and provides limited information on the fund. Past performance data and a review of how the fund has performed are commonly featured.  

FUND PROVIDER FACTSHEET
253,638 bytes PDF Document; last updated 31 Jul 2025

Annual Report A report published by the Fund Management Group detailing the progress of the fund during the course of the previous 12 months. The information provided includes a financial statement for the group as a whole.

ANNUAL REPORT
1,904,054 bytes PDF Document; last updated 31 Dec 2024

Semi Annual Report Published periodically through the course of the financial year of the fund, the report provides an overview of the fund's performance and the prospects for the remainder of the year. Included are portfolio changes (i.e. which stocks have been bought and sold), and changes in the geographical breakdown during the course of the previous 12 months.

SEMI-ANNUAL REPORT
251,416 bytes PDF Document; last updated 30 Jun 2025

Prospectus This is a formal document which contains details of the funds' objectives, investment strategies, risks, performance, distribution policy, fees and expenses and, fund management style. A fund’s prospectus must be lodged with the Financial Conduct Authority (FCA) for authorisation.

PROSPECTUS
2,152,768 bytes PDF Document; last updated 15 Jun 2025

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Management Team

Neil Aggarwal Clark Holland Jason Hoyer Mark Egan Todd Thompson Dimitri Silva

Neil Aggarwal has managed this fund for 3 years and 2 months.

Neil Aggarwal Portfolio co-Manager Neil Aggarwal is a portfolio co-manager and leads the securitized products research team at Reams Asset Management. Neil has 19 years of experience in mortgage trading strategy, securitized asset trading, and portfolio management. Prior to joining Reams in 2022, Neil worked for Verition Fund Management as a portfolio manager, with prior roles at Semper Capital, BlueCrest Capital, Barclays Capital, and Citigroup. Mr. Aggarwal earned his bachelor’s degree with honors from the University of Maryland.