For individual investors in Luxembourg

Absolute Return Income Fund

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

ISIN
IE00BD358420

NAV
USD 10.90
As of 18 Aug 2022

1-Day Change
USD 0.00 (0.00%)
As of 18 Aug 2022


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

INVESTMENT OBJECTIVE

A globally diversified fixed income fund that is designed to provide a steady income stream, while offering low volatility and stability of capital across economic cycles. We seek out value across sectors and geographies, identifying strategies priced for the best return potential in the current market environment. That means we can take advantage of unique opportunities within countries and sectors that are often overlooked or under-represented in market indices.

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 a Marketing Communication and does not qualify as an investment recommendation.

Investment into the fund will acquire units / shares of the fund itself and not the underlying assets owned by the fund.

ABOUT THIS FUND

  • 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 does not predict future returns. 
 

PORTFOLIO MANAGEMENT

Daniel Siluk

Portfolio Manager

Industry since 2004. Joined Firm in 2015.

Jason England

Portfolio Manager

Industry since 1994. Joined Firm in 2017.

Performance

Past performance does not predict future returns. All performance data includes both income and capital gains or losses and reflects the deduction of any ongoing charges or other fund expenses.
Cumulative & Annualised Performance (%)
As of 31 Jul 2022
I2 USD (Net) FTSE 3-Month US Treasury Bill
  
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
4 May 2016
I2 USD (Net) 0.37 -1.36 -1.71 0.43 1.34 - 1.38
FTSE 3-Month US Treasury Bill 0.10 0.28 0.29 0.58 1.09 - 0.97
 
  Annualised
3YR 5YR 10YR Since Inception
4 May 2016
I2 USD (Gross) - 1.99 - 2.05
FTSE 3-Month US Treasury Bill + 2.00% - 3.11 - 2.98
Calendar Year Returns (%)
As of 31 Dec 2021
I2 USD (Net) FTSE 3-Month US Treasury Bill
YTD 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 PERFORMANCE INCEPTION
4 May 2016
I2 USD (Net) -1.72 -0.54 2.40 4.23 1.27 2.29 - - - - - 0.40
FTSE 3-Month US Treasury Bill 0.17 0.05 0.58 2.25 1.86 0.84 - - - - - 0.19
 
YTD 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 PERFORMANCE INCEPTION
I2 USD (Gross) -1.43 0.06 3.01 4.92 1.97 3.01 - - - - - 0.94
FTSE 3-Month US Treasury Bill + 2.00% 1.16 2.05 2.60 4.30 3.91 2.85 - - - - - 1.50
FEE INFORMATION
Initial Charge 2.00%
Annual Charge 0.55%
Ongoing Charge
(As of 31 Dec 2021)
0.58%

Portfolio

Top Holdings (As of 31 Jul 2022)
% OF FUND
New Zealand Government Bond, 0.50%, 05/15/24 2.75
Bank of America Corp, 1.73%, 07/22/27 1.84
Morgan Stanley, 1.51%, 07/20/27 1.29
Goldman Sachs Group Inc, 1.54%, 09/10/27 1.26
Macquarie Bank Ltd, 2.30%, 01/22/25 1.10
Georgia-Pacific LLC, 0.62%, 05/15/24 1.09
Wells Fargo & Co, 2.16%, 02/11/26 1.06
Queensland Treasury Corp, 5.75%, 07/22/24 0.98
AT&T Inc, 0.90%, 03/25/24 0.95
Hyundai Capital America, 1.00%, 09/17/24 0.95
Total 13.27
Portfolio Characteristics (As of 31 Jul 2022)
 
Number of Holdings
Debt Issues
Portfolio Turnover Rate
(1-year trailing)
-
Weighted Average Maturity
(years)
-
Effective Duration
(years)
-
Sector Allocation % OF FUND % OF FUND (As of )
Regional Allocation % OF FUND % OF FUND (As of July 31, 2022)
Developed vs Emerging Markets % OF FUND % OF FUND (As of July 31, 2022)
Maturity Breakdown of Fixed Income Holdings % OF FUND % OF FUND (As of 31 Jul 2022)

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 does not predict future returns.
  • 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.
  • 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.
  • 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/unit 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.
  • Some or all of the ongoing charges 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.
  • 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.
  • Before investing in any of our funds you should satisfy yourself as to the suitability and the risks involved, you may wish to consult a financial adviser.
  • If you invest through a third party provider you are advised to consult them directly as charges, performance and terms and conditions may differ materially.
  • Summary of Investor rights
  • Henderson Management SA may decide to terminate the marketing arrangements of this Collective Investment Scheme in accordance with the appropriate regulation.
  • For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report. Please refer to the prospectus of the UCITS and to the KIID before making any final investment decisions.