The Liontrust GF High Yield Bond fund has gained attention for its unusually high 10% dividend yield. The fund primarily invests in high-yield corporate bonds, but also puts money into investment-grade bonds, government bonds, and other liquid assets. With an average credit rating of "BB," the fund has a relatively high-quality portfolio. It holds a mix of "conservative" assets like Fortescue Metals' bonds, as well as higher-risk debt with potential for mispricing. Despite challenges, fund manager Donald Phillips believes the portfolio can withstand a possible recession. The fund charges a 0.47% fee, lower than many index ETFs.