Horizon Euro Corporate Bond Fund

For investors seeking high-quality European credit exposure and an opportunity for total return that exceeds the benchmark

ISIN
LU0451950314

NAV
EUR 166.81
As of 2020/10/23

1-Day Change
EUR -0.06 (-0.04%)
As of 2020/10/23

Morningstar Rating

Morningstar Analyst Rating
Morningstar Analyst Rating				Bronze

Key investment risks:
• The Fund invests at least 80% in Euro denominated investment grade corporate bonds and other fixed and floating rate securities.
• Investments involve varying degree of investment risks (e.g. liquidity, market, economic, political, regulatory, taxation, financial, interest rate, hedging and currency risks). In extreme market conditions, you may

More

lose your entire investment.
• The Fund may invest in (up to 20% for each of the following types): non-investment grade securities; contingent convertible bonds; asset-backed securities (“ABS”) and mortgage-backed securities (“MBS”); total return swaps.
• Investments in financial derivatives instruments (“FDIs”) involve specific risks (e.g. counterparty, liquidity, leverage, volatility, valuation, short position and over-the-counter transaction risk). The Fund may use FDIs with the aim of making investment gains, to reduce risk or to manage the Fund more efficiently. Such investments are subject to higher level of risk and may result in substantial loss.
• The Fund’s investments are concentrated in Europe or a specific industry sector and may subject to higher concentration risk.
• The Fund may invest in Eurozone (in particular Portugal, Italy, Ireland, Greece and Spain) securities and may suffer from European sovereign debt crisis risk.
• The Fund may invest in bonds and other debt securities. They may be exposed to fluctuations in debt securities markets and are subject to default/credit risk of the bond issuers, interest rate, credit rating, downgrading, valuation and liquidity risks.
• In respect of distribution shares classes of the Fund, the directors may at its discretion pay distributions out of gross income and net realised/ unrealised capital gains while charging/ paying all or part of the fees and expenses to the capital, resulting in an increase in distributable income for the payment of distributions and therefore, the Fund may effectively pay distributions out of capital. This amounts to a return or withdrawal of part of an investor's original investment or from any capital gains attributable to that original investment, and may result in an immediate reduction of the Fund’s net asset value per share.
• The investment decision is yours. If you are in any doubt about the contents of this document, you should seek independent professional financial advice.
• Investors should not only base on this document alone to make investment decisions and should read the offering documents including the risk factors for further details.

Less

Overview

INVESTMENT OBJECTIVE

The Fund aims to provide a return, from a combination of income and capital growth over the long term.

More

The Fund invests at least 80% of its assets in investment grade corporate bonds and other fixed and floating rate securities, denominated in Euros. The Fund may invest up to 20% of its net assets in contingent convertible bonds (CoCos).

Less

ABOUT THIS FUND

  • Invests primarily in euro-denominated, investment-grade corporate bonds
  • Careful security analysis ensures positions reflect conviction and opportunity rather than benchmark weights
  • Strong security analysis blended with top-down macroeconomic analysis, diversification, and risk management

PORTFOLIO MANAGEMENT

Tim Winstone, CFA

Portfolio Manager

Industry since 2003. Joined Firm in 2015.

Tom Ross, CFA

Portfolio Manager

Industry since 2002. Joined Firm in 2002.

Performance

Discrete Performance (%)
As of 2020/09/30
A2 EUR
 
Quarter End
As of 2020/09/30
Sep-2019 - Sep-2020 Sep-2018 - Sep-2019 Sep-2017 - Sep-2018 Sep-2016 - Sep-2017 Sep-2015 - Sep-2016
0.80% 5.93% -0.04% 0.73% 6.81%
Cumulative Performance (%)
As of 2020/09/30
A2 EUR (Net)
 
  Cumulative
  1MO 3MO 6MO YTD 1YR 3YR 5YR Since Inception
2009/12/18
A2 EUR 0.65% 2.31% 8.07% 1.25% 0.80% 6.74% 14.85% 65.51%
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 2019/12/31)
Initial Charge 5.00%
Annual Charge 0.75%
Ongoing Charge
(As of 2019/12/31)
1.17%

Portfolio

Documents

TOP