Flexible Income Fund

A dynamic core bond fund with a 20+ year history of seeking risk-adjusted returns and capital preservation

ISIN
IE00BD860M22

NAV
USD 10.79
As of 06/07/2020

1-Day Change
USD 0.01 (0.09%)
As of 06/07/2020


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

The Fund aims to provide a return, from a combination of income and capital growth, while seeking to limit losses to capital (although not guaranteed) over the long term.
Performance target: To outperform the Bloomberg Barclays US Aggregate Bond Index by 1.25% per annum, before the deduction of charges, over any 5 year period.

More

The Fund invests at least 67% (but typically more than 80%) of its assets in US bonds of any quality, including high yield (non-investment grade) bonds and asset-backed and mortgage-backed securities, issued by governments, companies or any other type of issuer.
The Fund may also hold other assets including bonds of other types from any issuer, preference shares, 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 Bloomberg Barclays US Aggregate Bond 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.

Less

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

  • Leverages a bottom-up process using fundamental analysis and dynamic sector allocation aiming to generate returns through individual security selection
  • Integrated global fixed income and equity research effort seeks to identify the best risk-adjusted opportunities
  • Proprietary research and risk management system, Quantum Global, is integrated into the investment process
Past performance is not a guide to future performance. 
 

PORTFOLIO MANAGEMENT

Greg Wilensky, CFA

Head of U.S. Fixed Income

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 30/06/2020
H1m USD Bloomberg Barclays U.S. Aggregate Bond
  
Jun-2019 - Jun-2020 Jun-2018 - Jun-2019 Jun-2017 - Jun-2018 Jun-2016 - Jun-2017 Jun-2015 - Jun-2016
9.90% 6.62% - - -
Bloomberg Barclays U.S. Aggregate Bond 8.74% 7.87% - - -
 
Jun-2019 - Jun-2020 Jun-2018 - Jun-2019 Jun-2017 - Jun-2018 Jun-2016 - Jun-2017 Jun-2015 - Jun-2016
10.79% 7.49% - - -
Bloomberg Barclays U.S. Aggregate Bond TR + 1.25% 10.11% 9.21% - - -
Cumulative & Annualised Performance (%)
As of 30/06/2020
H1m USD (Net) Bloomberg Barclays U.S. Aggregate Bond
 
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
15/12/2017
H1m USD (Net) 1.43% 6.73% 9.90% - - - 5.63%
Bloomberg Barclays U.S. Aggregate Bond 0.63% 6.14% 8.74% - - - 5.76%
FEE INFORMATION
Initial Charge 0.00%
Annual Charge 0.60%
Ongoing Charge
(As of 31/12/2019)
0.75%

Portfolio

Top Holdings (As of 31/05/2020)
% OF FUND
United States Treasury Note/Bond, 2.75%, 08/15/42 2.52
United States Treasury Note/Bond, 2.00%, 02/15/50 2.25
United States Treasury Note/Bond, 1.50%, 02/15/30 2.22
United States Treasury Note/Bond, 1.12%, 02/28/22 2.17
United States Treasury Note/Bond, 2.12%, 05/31/21 1.95
Fannie Mae Pool, 3.00%, 02/01/47 1.85
United States Treasury Note/Bond, 2.38%, 11/15/49 1.16
Ginnie Mae II Pool, 4.00%, 05/20/48 0.94
Fannie Mae Pool, 3.50%, 02/01/43 0.75
Goldman Sachs Group Inc, 3.50%, 04/01/25 0.72
Total 16.53

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.
  • Callable debt securities (securities whose issuers have the right to pay off the security’s principal before the maturity date), such as ABS or MBS, can be impacted from prepayment or extension of maturity. The value of your investment may fall as a result.
  • 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 with the aim of reducing risk or managing the portfolio more efficiently. However this introduces 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.
  • The Fund involves a high level of buying and selling activity and as such will incur a higher level of transaction costs than a fund that trades less frequently. These transaction costs are in addition to the Fund's Ongoing Charges.
  • 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 it trades becomes unwilling or unable to meet its obligations to the Fund.
  • 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, you may wish to consult a financial adviser.
TOP