For qualified investors in Switzerland

Absolute Return Income Fund

A strategy that seeks positive returns above cash by investing primarily in fixed income securities and associated derivatives.


EUR 9.59
As of 07/12/2021

1-Day Change
EUR 0.00 (0.00%)
As of 07/12/2021

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



The Fund aims to provide positive, consistent returns (although not guaranteed) above those that would be earned on cash deposits over time.
Performance target: To outperform the FTSE 3-Month US Treasury Bill Index by at least 2% per annum, before the deduction of charges, over any 5 year period.


The Fund invests at least 80% of its assets in a global portfolio of bonds of any quality, including high yield (non-investment grade) bonds and asset-backed and mortgage-backed securities, issued by governments or companies. The Fund may invest directly or via derivatives (complex financial instruments).
The Fund may also invest in other assets including bonds of other types from any issuer, preference shares, cash and money market instruments.
In certain market conditions, the Fund may invest more than 35% of its assets in government bonds issued by any one body. The Fund will not invest more than 15% of its assets in high yield (non-investment grade) bonds and will never invest in bonds rated lower than B- or B3 (credit agency ratings), or if unrated deemed to be of a comparable quality by the investment manager.
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 FTSE 3-Month US Treasury Bill Index as this forms the basis of the Fund's performance target. The investment manager has a high degree of freedom to choose individual investments for the Fund.


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.


  • A cash-plus strategy designed to seek a steady income stream and higher returns than a money market fund
  • Places a high priority on seeking capital preservation
  • A potential diversifier within fixed income allocation
Past performance is not a guide to future performance. 


Jason England

Portfolio Manager

Industry since 1994. Joined Firm in 2017.

Daniel Siluk

Portfolio Manager

Industry since 2003. Joined Firm in 2015.


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 Euro Treasury Bills 0-3 Index
Sep-2020 - Sep-2021 Sep-2019 - Sep-2020 Sep-2018 - Sep-2019 Sep-2017 - Sep-2018 Sep-2016 - Sep-2017
A2 HEUR (Net) -0.72 -0.31 0.21 -1.32 -1.00
Bloomberg Euro Treasury Bills 0-3 Index -0.52 -0.42 -0.42 -0.48 -0.51
Sep-2020 - Sep-2021 Sep-2019 - Sep-2020 Sep-2018 - Sep-2019 Sep-2017 - Sep-2018 Sep-2016 - Sep-2017
A2 HEUR (Gross) 0.22 0.65 1.31 -0.10 0.23
Bloomberg Euro Treasury Bills 0-3 Index + 2.00% 1.46 1.58 1.58 1.50 1.48
Cumulative & Annualised Performance (%)
As of 30/11/2021
A2 HEUR (Net)
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
A2 HEUR (Net) -0.42 -1.64 -1.64 -0.31 -0.67 - -0.75
A2 HEUR (Net) Bloomberg Euro Treasury Bills 0-3 Index
2016 2017 2018 2019 2020
A2 HEUR (Net) - -0.51 -2.03 0.73 0.41
Bloomberg Euro Treasury Bills 0-3 Index - -0.51 -0.47 -0.42 -0.43
2016 2017 2018 2019 2020
A2 HEUR (Gross) - 0.74 -0.83 1.79 1.35
Bloomberg Euro Treasury Bills 0-3 Index + 2.00% - 1.47 1.53 1.57 1.57
Initial Charge 5.00%
Annual Charge 0.55%
Ongoing Charge
(As of 30/06/2021)


Top Holdings (As of 31/10/2021)
Bank of America Corp, 1.73%, 07/22/27 3.86
Macquarie Bank Ltd, 2.30%, 01/22/25 3.56
AT&T Inc, 0.90%, 03/25/24 2.48
Ausgrid Finance Pty Ltd, 1.29%, 10/30/24 2.46
Hyundai Capital America, 1.00%, 09/17/24 2.43
Georgia-Pacific LLC, 0.62%, 05/15/24 2.42
Toyota Motor Credit Corp, 1.80%, 02/13/25 2.39
Mizuho Financial Group Inc, 1.55%, 07/09/27 2.37
Morgan Stanley, 1.51%, 07/20/27 2.35
Broadcom Inc, 1.95%, 02/15/28 2.34
Total 26.66


  • 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.
  • Callable debt securities, such as some asset-backed or mortgage-backed securities (ABS/MBS), give issuers the right to repay capital before the maturity date or to extend the maturity. Issuers may exercise these rights when favourable to them and as a result the value of the fund may be impacted.
  • 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.
  • When the Fund, or a hedged share/unit class, seeks to mitigate exchange rate movements of a currency relative to the base currency, the hedging strategy itself may create a positive or negative impact to the value of the Fund due to differences in short-term interest rates between the currencies.
  • 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.
  • 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.
  • 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