For Financial Professionals in the US

JGBIX Global Bond Fund

A dynamic global bond fund that seeks superior risk-adjusted returns relative to the benchmark over a market cycle

NAV
$7.64
As of 12/04/2023

1-Day Change
-$0.03 (-0.38%)
 As of 12/04/2023

YTD Return
0.37%
As of 12/04/2023

Overview

ABOUT THIS FUND

This dynamic, global multi-sector fixed income fund seeks risk-adjusted returns and capital preservation.

WHY INVEST IN THIS FUND

Risk Management: Our risk process is focused on understanding portfolio behaviors and adjusting the risk exposure over a market cycle, seeking to deliver superior risk-adjusted returns relative to the benchmark.

Cross asset collaboration: We draw on the input and experience of specialists across different asset classes. Incorporating these insights results in a deeper understanding of the current investment regime, helping us to identify the major turning points and specific opportunities.

Scenario-driven research: Investment decisions are made through a probabilistic lens, not a central forecast. Our assessment is informed by considering the distribution of potential outcomes and in turn a focus on relative attractiveness of fixed income sectors.

PORTFOLIO MANAGEMENT

Helen Anthony, CFA

Helen Anthony, CFA

Portfolio Manager

Industry since 2010. Joined Firm in 2010.

John Pattullo

John Pattullo

Co-Head of Global Bonds | Portfolio Manager

Industry since 1993. Joined Firm in 1997.

Jenna Barnard, CFA

Jenna Barnard, CFA

Co-Head of Global Bonds | Portfolio Manager

Industry since 2001. Joined Firm in 2002.

Performance

RETURNS (%) (As of 09/30/2023)
Global Bond Fund - I Shares Bloomberg Global Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/28/2010)
Global Bond Fund - I Shares -4.68 -4.21 0.54 -8.45 -2.30 -0.46 0.50
Bloomberg Global Aggregate Bond Index -3.58 -2.20 2.24 -6.93 -1.62 -0.44 0.35
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

RETURNS (%) (As of 10/31/2023)
Global Bond Fund - I Shares Bloomberg Global Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/28/2010)
Global Bond Fund - I Shares -6.33 -5.60 -0.39 -8.94 -2.31 -0.73 0.38
Bloomberg Global Aggregate Bond Index -5.39 -3.37 1.71 -7.33 -1.63 -0.66 0.26
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Calendar Year Returns (%)
Global Bond Fund - I Shares Bloomberg Global Aggregate Bond Index
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Global Bond Fund - I Shares -18.55 -5.34 13.04 5.95 -2.32 7.44 0.19 -4.30 5.80 -1.95
Bloomberg Global Aggregate Bond Index -16.24 -4.70 9.19 6.83 -1.19 7.39 2.08 -3.15 0.58 -2.59

MORNINGSTAR PERCENTILE

(As Of 09/30/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 96 90 62 47 35
Global Bond | Rank/Count 186/197 176/197 118/182 87/162 61/151
(As Of 11/30/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 94 89 66 46 36
Global Bond | Rank / Count 185/197 172/197 123/183 86/165 63/151

RETURNS-BASED STATISTICS (As of 10/31/2023 Class I Shares)

RISK / REWARD
VS. Bloomberg Global Aggregate Bond TR Index		 3YR 5YR
Information Ratio -1.05 -0.39
Alpha -0.32 -0.26
Tracking Error 1.65 1.77
Beta 1.14 1.12
R-squared (%) 98.14 95.98
UP/DOWN MARKET CAPTURE (%)
VS. Bloomberg Global Aggregate Bond TR Index		 3YR 5YR
Up Capture Ratio 108.59 107.81
Down Capture Ratio 113.53 111.50
STANDARD DEVIATION 3YR 5YR
Global Bond Fund 9.04 7.88
Bloomberg Global Aggregate Bond TR Index 7.87 6.95
SHARPE RATIO 3YR 5YR
Global Bond Fund -1.19 -0.51
Bloomberg Global Aggregate Bond TR Index -1.16 -0.48
ANNUAL FEES & EXPENSES (As of the most recent prospectus)
CLASS I SHARES
Management Fees 0.60%
Other Expenses 0.35%
Total Gross Expenses 0.95%
Waivers -0.24%
Total Net Expenses 0.71%
Net expense ratios reflect the expense waiver, if any, contractually agreed to for at least a one-year period commencing on October 27, 2023. This contractual waiver may be terminated or modified only at the discretion of the Board of Trustees.

Portfolio

Index represents the Bloomberg Barclays Global Aggregate Bond Index.

Top Holdings (As of 10/31/2023)
% of Fund
Japan Government Ten Year Bond, 0.10%, 06/20/29 4.09
China Government Bond, 2.68%, 05/21/30 3.48
China Government Bond, 2.00%, 06/15/25 3.35
Japan Government Ten Year Bond, 0.40%, 06/20/25 2.95
China Government Bond, 3.29%, 05/23/29 2.86
Bundesrepublik Deutschland Bundesanleihe, 1.70%, 08/15/32 2.65
Italy Buoni Poliennali Del Tesoro, 1.85%, 07/01/25 2.58
United States Treasury Note/Bond, 2.88%, 05/15/32 2.45
Japan Government Ten Year Bond, 0.10%, 06/20/31 2.43
Japan Government Ten Year Bond, 0.20%, 09/20/32 2.40
Total 29.24
View full holdings
Portfolio Characteristics (As of 10/31/2023)
  FUND INDEX
Number of Holdings
Debt Issues		 226 29504
Portfolio Turnover Rate
(1-year trailing)		 47.59% -
Weighted Average Maturity
(years)		 8.70 10.03
Effective Duration
(years)		 8.16 6.40
Yield to Worst
 4.20% 4.34%

Yield to Worst is a portfolio level calculation that excludes cash and cash related costs.
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 10/31/2023)
Treasuries include U.S. Treasuries and non-U.S. Government securities.
Fixed Income country and/or regional weights primarily based on Bloomberg classifications.
Regional Allocation % OF FUND % of Index % OF FUND % of Index (As of 10/31/2023)
Developed vs Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 10/31/2023)
Maturity Breakdown of Fixed Income Holdings % OF FUND % of Index % OF FUND % of Index (As of 10/31/2023)
Credit Quality of Fixed Income Holdings % OF FUND % of Index % OF FUND % of Index (As of 10/31/2023)
Credit quality ratings reflect the middle rating received from Moody’s, Standard & Poor’s and Fitch, where all three agencies have provided a rating. If only two agencies rate a security, the lowest rating is used. If only one agency rates a security, that rating is used. Ratings are measured on a scale that ranges from Aaa (highest) to D (lowest).

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
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