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For investors in Singapore

High Yield Fund

A high-conviction active high-yield portfolio that focuses on taking the appropriate amount of risk throughout the credit cycle

ISIN
IE0004446971

NAV
USD 31.49
As of 2024/07/23

1-Day Change
USD 0.07 (0.22%)
As of 2024/07/23

Overview

INVESTMENT OBJECTIVE

The Fund aims to provide a high income with the potential for some capital growth over the long term.

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The Fund invests at least 80% of its assets in debt securities or preference shares (non-investment grade) issued by US issuers or companies.

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Note: You should not make investment decisions based solely on marketing materials. You should read the Prospectus and the Product Highlights Sheet of the Fund for more details of the investment risks and seek independent professional advice where appropriate.

ABOUT THIS FUND

  • High Conviction: We believe a high-conviction approach is essential to unlocking competitive excess returns and monitoring high-yield risk for our clients. We are focused on taking the appropriate amount of risk throughout the credit cycle by actively managing market exposure and portfolio composition.
  • Research Driven: Our analysts cover issuers across the credit-quality spectrum and capital structure, enabling a complete picture of fundamental credit risk. Analysts function as sector experts and risk managers alongside portfolio managers to identify potential outperformers.
  • Global Resources: This U.S. strategy benefits from our team of global credit experts. Instead of separate teams, we operate as one team globally looking at companies.

PORTFOLIO MANAGEMENT

Tom Ross, CFA

Global Head of High Yield | Portfolio Manager

Industry since 2002. Joined Firm in 2002.

Brent Olson

Portfolio Manager

Industry since 1997. Joined Firm in 2017.

Performance

Cumulative & Annualised Performance (%)
As of 2024/06/30
A2 USD (Net) A2 USD (With Sales Charge)* Bloomberg U.S. Corporate High Yield Bond TR
 
  Cumulative Annualised
1MO 3MO 6MO YTD 1YR 3YR 5YR 10YR Since Inception
1998/12/24
A2 USD (Net) 0.94 1.14 2.55 2.55 8.06 -1.44 1.58 2.03 4.53
A2 USD (With Sales Charge)* -4.10 -3.91 -2.58 -2.58 2.65 -3.11 0.54 1.50 4.32
Bloomberg U.S. Corporate High Yield Bond TR 0.94 1.09 2.58 2.58 10.44 1.64 3.92 4.31 6.31
FEE INFORMATION
Initial Charge 5.00%
Annual Charge 1.00%
Ongoing Charge
(As of 2022/12/31)
2.20%

Portfolio

Top Holdings (As of 2024/06/30)
% of Fund
US 2YR NOTE (CBT) Sep24 SEP 24 7.31
FTAI Infra Escrow Holdings LLC, 10.50%, 06/01/27 1.97
Medline Borrower LP, 5.25%, 10/01/29 1.95
Cargo Aircraft Management Inc, 4.75%, 02/01/28 1.72
Seagate HDD Cayman, 9.62%, 12/01/32 1.62
Carnival Corp, 6.00%, 05/01/29 1.56
Standard Industries Inc/NJ, 3.38%, 01/15/31 1.55
Heartland Dental LLC / Heartland Dental Finance Corp, 10.50%, 04/30/28 1.40
TransDigm Inc, 4.88%, 05/01/29 1.32
Victra Holdings LLC / Victra Finance Corp, 7.75%, 02/15/26 1.31
TOTAL 21.71

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