For financial professionals in Luxembourg

Balanced Fund

For over 20 years, this dynamic allocation strategy has delivered our equity and fixed income expertise in a one-stop core solution

ISIN
IE0009514989

NAV
EUR 38.80
As of 30/11/2021

1-Day Change
EUR -0.43 (-1.10%)
As of 30/11/2021

Morningstar Rating


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 capital growth and income, while seeking to limit losses to capital (although not guaranteed).
Performance target: To outperform the `Balanced´ Index (55% S&P 500 + 45% Bloomberg US Aggregate Bond) by 1.5% per annum, before the deduction of charges, over any 5 year period.

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The Fund invests between 35%-65% of its assets in the shares (equities) of mainly US companies, and between 35%-65% of its assets in bonds of any quality, including up to 35% in high yield (non-investment grade) bonds and loans (non-investment grade) issued mainly by US companies or the US government.
The Fund may also invest in other assets including companies and bonds outside the US, cash and money market instruments.
The investment manager may use derivatives (complex financial instruments) to reduce risk, to manage the Fund more efficiently, or to generate additional capital or income for the Fund.
The Fund is actively managed with reference to the `Balanced´ Index (55% S&P 500 + 45% Bloomberg US Aggregate Bond), which is broadly representative of the companies and bonds in which it may invest, 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.

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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.

ABOUT THIS FUND

  • Large-cap growth equities paired with an actively managed intermediate-term bond strategy for strong risk-adjusted return potential
  • Dynamic asset allocation strategy that has the flexibility to defensively position ahead of market volatility by migrating from 35-65% equity depending on conditions
  • Integrated research allows our equity and fixed income analysts to work side by side covering the same global sectors
Past performance is not a guide to future performance. 
 

PORTFOLIO MANAGEMENT

Jeremiah Buckley, CFA

Portfolio Manager

Industry since 1998. Joined Firm in 1998.

Greg Wilensky, CFA

Head of U.S. Fixed Income | Portfolio Manager

Industry since 1993. Joined Firm in 2020.

Michael Keough

Portfolio Manager

Industry since 2006. Joined Firm in 2007.

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) Balanced Index (55%S&P500 Hgd EUR/45% BBUSAgg 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) 13.77 8.28 2.65 8.76 11.41
Balanced Index (55%S&P500 Hgd EUR/45% BBUSAgg Hgd EUR) 14.12 9.76 4.04 6.19 7.93
 
Sep-2020 - Sep-2021 Sep-2019 - Sep-2020 Sep-2018 - Sep-2019 Sep-2017 - Sep-2018 Sep-2016 - Sep-2017
A2 HEUR (Gross) 15.91 10.35 4.61 10.86 13.61
Balanced Index (55%S&P500 Hgd EUR/45% BBUSAgg Hgd EUR) + 1.50% 15.83 11.41 5.61 7.78 9.54
Cumulative & Annualised Performance (%)
As of 31/10/2021
A2 HEUR (Net) Balanced Index (55%S&P500 Hgd EUR/45% BBUSAgg Hgd EUR)
  
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
31/12/1999
A2 HEUR (Net) 4.57 11.88 22.07 11.42 10.15 7.68 5.48
Balanced Index (55%S&P500 Hgd EUR/45% BBUSAgg Hgd EUR) 3.79 11.20 20.53 12.29 9.50 8.85 -
 
  Annualised
3YR 5YR 10YR Since Inception
31/12/1999
A2 HEUR (Gross) - 12.26 9.76 7.50
Balanced Index (55%S&P500 Hgd EUR/45% BBUSAgg Hgd EUR) + 1.50% - 11.14 10.49 -
CALENDAR YEAR RETURNS (%)
A2 HEUR (Net) Balanced Index (55%S&P500 Hgd EUR/45% BBUSAgg Hgd EUR)
2016 2017 2018 2019 2020
A2 HEUR (Net) 1.39 13.79 -3.95 16.32 10.59
Balanced Index (55%S&P500 Hgd EUR/45% BBUSAgg Hgd EUR) 6.27 11.04 -4.97 17.45 12.12
 
2016 2017 2018 2019 2020
A2 HEUR (Gross) 3.40 16.05 -2.11 18.54 12.70
Balanced Index (55%S&P500 Hgd EUR/45% BBUSAgg Hgd EUR) + 1.50% 7.86 12.70 -3.53 19.21 13.81
FEE INFORMATION
Initial Charge 5.00%
Annual Charge 1.00%
Ongoing Charge
(As of 30/06/2021)
1.88%

Portfolio

Top Holdings (As of 31/10/2021)
% OF FUND
Microsoft Corp 5.71
Alphabet Inc 3.93
Apple Inc 3.38
Amazon.com Inc 2.79
UnitedHealth Group Inc 2.29
Mastercard Inc 2.05
Adobe Inc 1.87
NVIDIA Corp 1.79
United States Treasury Note/Bond, 0.12%, 08/31/23 1.77
Bank of America Corp 1.60
Total 27.18

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.
  • Shares can lose value rapidly, and typically involve higher risks than bonds or money market instruments. The value of your investment may fall as a result.
  • 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.
  • The Fund invests in high yield (non-investment grade) bonds and while these generally offer higher rates of interest than investment grade bonds, they are more speculative and more sensitive to adverse changes in market conditions.
  • 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.
  • 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