Short-dated corporate bonds

Mandates invest long-only primarily in investment grade bonds with a lower duration than standard indices.

	AMC per annum (£,000)
	£25mn	£50mn	£75mn	£100mn	£125mn	£150mn	£175mn	£200mn	£225mn	£250mn	£275mn	£300mn	£325mn	£350mn	£375mn	£400mn	£425mn	£450mn	£475mn	£500mn
AMC top quartile	65	130	188	250	313	375	438	500	563	625	688	750	813	875	938	1,000	1,063	1,125	1,188	1,250
AMC median	63	125	188	250	313	375	438	500	563	625	688	750	813	875	938	1,000	1,063	1,125	1,188	1,250
AMC bottom quartile	50	100	150	190	238	285	298	340	383	425	413	450	488	525	563	600	595	630	665	700

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Mandates invest long-only primarily in investment grade bonds with a lower duration than standard indices.

	OCF per annum (£,000)
	£25mn	£50mn	£75mn	£100mn	£125mn	£150mn	£175mn	£200mn	£225mn	£250mn	£275mn	£300mn	£325mn	£350mn	£375mn	£400mn	£425mn	£450mn	£475mn	£500mn
OCF top quartile	78	155	233	310	388	465	543	620	698	775	853	930	1,008	1,085	1,163	1,240	1,318	1,395	1,473	1,550
OCF median	68	135	195	260	325	390	455	520	585	650	715	780	845	910	975	1,040	1,105	1,170	1,235	1,300
OCF bottom quartile	63	125	188	240	288	345	385	440	473	525	550	600	650	700	750	800	850	900	950	1,000

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mandates invest long-only primarily in investment grade bonds with a lower duration than standard indices.