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Fund Range Documents

Investment involves risk. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

SICAV
Global High Income Bond Fund
Seeks to maximise the value of its shares through both growth in the value of, and income from, its investments.
ISIN LU1216622560
Bloomberg TRPGHIA LX
FACTSHEET
Product Highlight Sheet
31-Aug-2016 - Mark Vaselkiv, Chief Investment Officer, Fixed Income,
Although some key risk events have now passed, we still have concerns about China. It is also likely that upcoming political events including a referendum in Italy on constitutional reform in October and the U.S. presidential election in November will gain more focus. These developments could potentially hurt sentiment toward risk assets, which in turn could lead to issuers being more cautious on bringing new deals to the market.

Strategy
Fund Summary
Actively managed and invests mainly in a diversified portfolio of high yield corporate debt securities from issuers around the world, including emerging markets. The Fund may invest up to 40% of its net asset value in emerging markets.
Performance (Class A)

Past performance is not a reliable indicator of future performance. Performance returns are calculated on a NAV-NAV basis, net of fees, with distributions reinvested. Returns for the current year performance is cumulative. Benchmark returns are shown with reinvestment of dividends after the deduction of withholding taxes. The Excess Returns are shown as Fund % minus the Benchmark %. Performance returns for share classes less than 1 year old (and associated benchmarks) are cumulative rather than annualised.

31-Oct-2023 - Mike Della Vedova, Co-Portfolio Manager,
We have maintained our overweight allocation to the cable operators segment as these issuers typically provide stability during times of market volatility. We are overweight broadcasting as it appears attractive on valuation grounds, although we are selective on picking credits. We continue to hold an overweight exposure to automotives but have moved away from credits susceptible to the strikes by United Auto Workers into more global parts manufacturers.
31-Oct-2023 - Mike Della Vedova, Co-Portfolio Manager,
We do not expect to add value via currency management; we typically hedge our non-US dollar exposure back to US dollars in order to limit volatility, keeping the focus on credit selection.

Risks

The following risks are materially relevant to the fund. Please click here to view the definitions of the risks listed below.

  • Contingent convertible bond
  • Counterparty
  • Credit
  • Default
  • Derivatives
  • Distressed or defaulted debt securities
  • Emerging markets
  • ESG
  • Frontier markets
  • Geographic concentration
  • Hedging
  • High yield bond
  • Interest rate
  • Investment fund
  • Liquidity
  • Management
  • Market
  • Operational
  • Total return swap

 

Typical Investor

Investors who plan to invest for the medium to long term, and who:

  • are interested in a combination of income and investment growth
  • understand and can accept the risks of the fund, including the risks of investing in high yield bonds and in derivatives

Disclosure on Vendor Indices can be found here.