For professional investors in Brazil

Global Investment Grade Bond Fund

ISIN
IE00B3ZM0R87

NAV
EUR 11.83
As of 26/11/2021

1-Day Change
EUR 0.05 (0.42%)
As of 26/11/2021


Morningstar ratings are based on the representative share class of this fund and are dated to the last month-end upon availability from Morningstar.

Overview

Quarterly update

Watch the investment team recap this quarter.

(Note: Filmed in October 2021)

INVESTMENT OBJECTIVE

The Fund aims to provide a return, from a combination of income and capital growth over the long term.
Performance target: To outperform the Bloomberg Global Aggregate Corporate Bond Hedged USD Index by 1.25% per annum, before the deduction of charges, over any 5 year period.

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The Fund invests at least 80% of its assets in a global portfolio of investment grade (equivalent to BBB rated or higher) corporate bonds, issued by companies and issuers.
The Fund may also hold other assets including bonds (including convertible bonds), preference shares, cash and money market instruments.
The investment manager may use derivatives (complex financial instruments), including total return swaps, with the aim of making investment gains in line with the Fund’s objective, to reduce risk or to manage the Fund more efficiently.
The Fund is actively managed with reference to the Bloomberg Global Aggregate Corporate Bond Hedged USD Index, which is broadly representative of the bonds in which it may invest, as this forms the basis of the Fund’s performance target. The investment manager has discretion to choose investments for the Fund with weightings different to the index or not in the index, but at times the Fund may hold investments similar to the index.

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The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested.
Potential investors must read the prospectus, and where relevant, the key investor information document before investing.
This website is for promotional purposes and does not qualify as an investment recommendation.

PORTFOLIO MANAGEMENT

James Briggs, ACA, CFA

Portfolio Manager

Industry since 1997. Joined Firm in 2005.

Michael Keough

Portfolio Manager

Industry since 2006. Joined Firm in 2007.

Brad Smith

Portfolio Manager

Industry since 2010. Joined Firm in 2010.

Tim Winstone, CFA

Portfolio Manager

Industry since 2003. Joined Firm in 2015.

Performance

Past performance is not a guide to future performance. All performance data includes both income and capital gains or losses and reflects the deduction of any ongoing charges or other fund expenses.
Discrete Performance (%)
As of 30/09/2021
A2 HEUR (Net) Bloomberg Global Agg Corp Bond Hgd EUR
  
Sep-2020 - Sep-2021 Sep-2019 - Sep-2020 Sep-2018 - Sep-2019 Sep-2017 - Sep-2018 Sep-2016 - Sep-2017
A2 HEUR (Net) 0.59 6.37 6.10 -5.58 -0.63
Bloomberg Global Agg Corp Bond Hgd EUR 0.96 4.29 6.84 -3.91 1.16
 
Sep-2020 - Sep-2021 Sep-2019 - Sep-2020 Sep-2018 - Sep-2019 Sep-2017 - Sep-2018 Sep-2016 - Sep-2017
A2 HEUR (Gross) 1.75 7.87 8.22 -3.69 1.36
Bloomberg Global Agg Corp Bond Hgd EUR + 1.25% 2.22 5.59 8.16 -2.71 2.43
Cumulative & Annualised Performance (%)
As of 31/10/2021
A2 HEUR (Net) Bloomberg Global Agg Corp Bond Hgd EUR
  
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
29/10/2010
A2 HEUR (Net) -0.50 -2.55 0.08 4.88 1.59 1.55 1.56
Bloomberg Global Agg Corp Bond Hgd EUR -0.13 -1.60 0.79 4.62 2.18 2.35 2.54
 
  Annualised
3YR 5YR 10YR Since Inception
29/10/2010
A2 HEUR (Gross) - 3.31 3.43 3.45
Bloomberg Global Agg Corp Bond Hgd EUR + 1.25% - 3.45 3.63 3.83
CALENDAR YEAR RETURNS (%)
A2 HEUR (Net) Bloomberg Global Agg Corp Bond Hgd EUR
2016 2017 2018 2019 2020
A2 HEUR (Net) 0.19 5.09 -7.36 7.75 9.44
Bloomberg Global Agg Corp Bond Hgd EUR 2.78 6.97 -6.26 8.73 6.73
 
2016 2017 2018 2019 2020
A2 HEUR (Gross) 2.20 7.19 -5.51 9.91 10.76
Bloomberg Global Agg Corp Bond Hgd EUR + 1.25% 4.07 8.31 -5.10 10.09 8.06
FEE INFORMATION
Initial Charge 5.00%
Annual Charge 0.55%
Ongoing Charge
(As of 30/06/2021)
1.14%

Portfolio

Top Holdings (As of 31/10/2021)
% OF FUND
Bank of America Corp, 4.45%, 03/03/26 1.13
JPMorgan Chase & Co, 2.08%, 04/22/26 1.13
Morgan Stanley, 3.95%, 04/23/27 1.07
United Kingdom Gilt, 0.25%, 07/31/31 1.06
SVB Financial Group, 3.12%, 06/05/30 0.96
Worley US Finance Sub Ltd, 0.88%, 06/09/26 0.91
Canary Wharf Group Investment Holdings PLC, 3.38%, 04/23/28 0.90
Banque Federative du Credit Mutuel SA, 0.01%, 05/11/26 0.88
GLP Capital LP / GLP Financing II Inc, 4.00%, 01/15/31 0.80
Citigroup Inc, 2.88%, 07/24/23 0.80
Total 9.64

Documents

  • The value of the Funds and the income from them is not guaranteed and may fall as well as rise. You may get back less than you originally invested.
  • Past performance is not a guide to future performance.
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
  • An issuer of a bond (or money market instrument) may become unable or unwilling to pay interest or repay capital to the Fund. If this happens or the market perceives this may happen, the value of the bond will fall.
  • When interest rates rise (or fall), the prices of different securities will be affected differently. In particular, bond values generally fall when interest rates rise. This risk is generally greater the longer the maturity of a bond investment.
  • If a Fund has a high exposure to a particular country or geographical region it carries a higher level of risk than a Fund which is more broadly diversified.
  • The Fund may use derivatives towards the aim of achieving its investment objective. This can result in 'leverage', which can magnify an investment outcome and gains or losses to the Fund may be greater than the cost of the derivative. Derivatives also introduce other risks, in particular, that a derivative counterparty may not meet its contractual obligations.
  • If the Fund holds assets in currencies other than the base currency of the Fund or you invest in a share class of a different currency to the Fund (unless 'hedged'), the value of your investment may be impacted by changes in exchange rates.
  • Securities within the Fund could become hard to value or to sell at a desired time and price, especially in extreme market conditions when asset prices may be falling, increasing the risk of investment losses.
  • Some or all of the Annual Management Charge and other costs of the Fund may be taken from capital, which may erode capital or reduce potential for capital growth.
  • The Fund could lose money if a counterparty with which the Fund trades becomes unwilling or unable to meet its obligations, or as a result of failure or delay in operational processes or the failure of a third party provider.
  • In addition to income, this share class may distribute realised and unrealised capital gains and original capital invested. Fees, charges and expenses are also deducted from capital. Both factors may result in capital erosion and reduced potential for capital growth. Investors should also note that distributions of this nature may be treated (and taxable) as income depending on local tax legislation.
  • Information on compliance with EU sustainable related disclosures can be found here.
  • Funds incur costs as a necessary part of buying and selling the underlying investments, these are otherwise known as portfolio transaction costs, and include charges such as broker commission and Stamp Duty.
  • For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report.
  • Before investing in any of our funds you should satisfy yourself as to the suitability and the risks involved.
  • Summary of Investor rights