January 2025 - Market Commentary

In today's market, characterised by compressed credit spreads, many fixed income funds have shown strong one-year returns due to mark-to-market gains. However, these short-term boosts often come at the cost of a reduced yield to maturity, which is the expected return if those assets are held to maturity. This disparity highlights the importance of evaluating investments. In a market with abundant choice and many differing strategies, it is important for investors to assess managers and compare returns on a 5-year basis to reduce the mark-to-market impact or juxtapose each fund’s yield to maturity. The Manning Monthly Income Fund pre fees and expenses Yield to Maturity at time of writing was circa 10.70%.

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The Manning Monthly Income Fund prioritises consistency and market-leading risk-adjusted returns. Our strategy is specifically designed to navigate market fluctuations, ensuring long-term growth and a high level of consistent income without sacrificing stability. We were pleased to be recognised for another year running in Livewire Market’s list of top-performing Fixed Income funds for 2024. With the longest track record among top performers, we know that enduring success is built on medium and long-term results, not just one-year returns. This disciplined investment strategy sets us apart, we look forward to another year of delivering market-leading risk-adjusted returns for our clients.