August distribution cancelled for Kames High Yield Bond

27th August 2015 - Kames Capital plc have, this week, written to holders of its High Yield Bond fund income share class to let them know that the usual monthly distribution for the month of July will not be paid in August.

The fund's financial year runs from 1 August to 31 July and, as at the end of July 2015, the total annual distribution of the fund was 4.4%. This yield is slightly above that achieved in the fund's last financial year, so the overall amount paid out to income investors has not changed. However, due to slight over-payments of income in the first 11 months, the total income generated has already been paid to investors.

Commenting on the cancellation of the last distribution, Andrew Bell, Commercial Director, Kames Capital, said: “Although the fund aims to make similar distribution payments each month, sometimes this is not possible. Levels of distributions depend on a number of factors, including accounting practices, the nature of the assets we invest in and market conditions. As a result distributions can vary, particularly at the end of the financial year when annual accounts are closed.

“We fully understand that predictable levels of distribution payments are important for our clients. With this in mind, we are continuously examining our accounting procedures to identify where we can make improvements. We aim to achieve greater consistency during the fund's next financial year.”

No action is required by holders of the income share class and investors in the accumulation share class are not affected. If you have any questions, please contact our client services department on 020 7384 7300.