Rathbone Ethical Bond Fund

Income with conscience

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Summary

Rathbone Ethical Bond fund is one of the UK’s oldest ethically managed bond funds, a sterling investment grade bond fund that combines an income objective with a rigorous ethical screen. 

Fund launch

2002

Combined years of Fund Managers' experience

50+

As at September 2026

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Why invest in the Rathbone Ethical Bond Fund

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Longevity

Established in 2002 and managed by the same manager, Bryn Jones, since 2004, the fund reflects a long-standing, consistent approach to ethical fixed income investing.

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Specialist research and oversight

Our investment team is supported by the Responsible Investment Centre of Excellence, bringing together environmental, social, and governance (ESG) integration, stewardship, and ethical and sustainable research. The Centre screen every investment to ensure adherence to the ethical criteria by a team independent of the investment team.

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Tried and tested investment process

Our disciplined approach assesses every bond against our ‘Four Cs’ Plus framework (Character, Capacity, Collateral and Covenants).

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Truly active

Our investment decisions are driven by research and conviction, with individual bonds selected on their own merits rather than their index weighting.

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Experienced, stable management

Decades of combined experience inform our team's consistent and disciplined approach to ethical bond investing across different market environments.

While bonds can help reduce the overall risk of a portfolio, they are not risk free. Changes in interest rates, inflation and market conditions can affect the value of investments and the income they generate. Investors may get back less than they originally invested.

Prices and performance

View the latest prices and performance for this fund

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Meet the Fund Managers

Bryn Jones

Bryn Jones

Fund Manager

Bryn Jones

Fund Manager

Bryn is the head of fixed income for Rathbones and is lead manager on the Rathbone Ethical Bond Fund and the Rathbone Strategic Bond Fund. He joined Rathbones in November 2004 from Merrill Lynch, where he managed $2 billion of fixed income assets.

Bryn is a member of the Rathbone Strategic Asset Allocation Committee, non-executive chairman of Rathbones' Fixed Income Committee, and an adviser to the Rathbone Banking Committee. He is a WMA representative for the HMT DMO’s (Her Majesty’s Treasury - Debt Management Office) Gilt market consultation process. Bryn appears regularly on CNBC and Bloomberg TV. He also sits on the IA Fixed Income Committee.

Bryn Jones
Stuart Chilvers

Stuart Chilvers

Fund Manager

Stuart Chilvers

Fund Manager

Stuart is lead fund manager of the Rathbone High Quality Bond Fund and co-manager of the Rathbone Greenbank Global Sustainable Bond Fund. He works with our head of fixed income, Bryn Jones, assisting in the management of the Rathbone Ethical Bond and the Rathbone Strategic Bond funds as well. Stuart joined Rathbones in September 2017 and was made an assistant fund manager in January 2020, then fund manager in January 2022. Previously, he spent three years at Brown Shipley. He is a Chartered Financial Analyst (CFA) charterholder and holds the Chartered Institute for Securities & Investment (CISI) Chartered Wealth Manager Qualification, having won the CISI Financial Markets & CISI Chartered Wealth Manager Qualification awards at the annual CISI awards in 2016 and 2017 respectively. He was named in the 2018 Citywire Top 30 under 30 investment management awards. He graduated from Bath University with a first-class Bachelor’s degree in Mathematics.

Stuart Chilvers
Christie Goncalves

Christie Goncalves

Assistant Fund Manager

Christie Goncalves

Assistant Fund Manager

Christie is assistant fund manager in the fixed income team.

Christie joined Rathbones in January 2024, arriving with 15 years of experience in fixed income markets, most recently at Vanguard where she spent eight years as an assistant portfolio manager on global corporate Environment Social and Governance (ESG) funds and ETFs, and as a senior trader focused on European and UK government and corporate bonds. Prior to this she was an emerging markets trader and portfolio manager for Stanlib in South Africa.

She has an honours degree in Investment Management from the University of Pretoria (cum laude), is a Chartered Financial Analyst (CFA) charterholder and holds the Financial Risk Manager qualification.

Christie Goncalves

Ratings and awards

Our fund gets the 5 stars from Morningstar

Our fund gets an AA ESG rating from MSCI

The Fund of the Year badge from RSMR for Responsible Fund in 2026

Our fund managers Bryn Jones and Stuart Chilvers get an AA grade from CityWire

Literature Library

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Rathbone Ethical Bond Fund C Acc

Rathbone Ethical Bond Fund C Inc

Rathbone Ethical Bond Fund S Inc

Rathbone Ethical Bond Fund S Acc

Rathbone Ethical Bond Fund I Inc

Rathbone Ethical Bond Fund I Acc

Single Strategy ISA application form (I-Class) 2026/2027

Rathbone Ethical Bond Fund Public product-level sustainability report

Ethical screening criteria

Unit Trust prospectus

European MiFID Template

Remuneration policy

Discover our other fixed income funds

Rathbone Strategic Bond Fund

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Rathbone High Quality Bond Fund

Find out more

Rathbone Greenbank Global Sustainable Bond Fund

Find out more