Strategy
Investment Objective
To maximise the value of its shares through both growth in the value of, and income from, its investments. The fund invests mainly in a diversified portfolio of US bonds.Investment Approach
- Focuses on investment-grade, U.S. fixed income securities.
- Integrate proprietary credit and capital market research to identify market inefficiencies.
- Add value primarily through sector rotation, individual security selection, and term structure position.
- Seek to exploit market inefficiencies through opportunistic trading conducted by specialist teams.
- Environmental, social and governance ("ESG") factors with particular focus on those considered most likely to have a material impact on the performance of the holdings or potential holdings in the funds’ portfolio are assessed. These ESG factors, which are incorporated into the investment process alongside financials, valuation, macro-economics and other factors, are components of the investment decision. Consequently, ESG factors are not the sole driver of an investment decision but are instead one of several important inputs considered during investment analysis.
Portfolio Construction
- Duration is managed within +/- 20% of benchmark
- Sector exposure will typically range +/- 25% of the benchmark
- Expected Tracking Error should range between 0.5% to 1.0% in most market environments
Past performance is not a reliable indicator of future performance.