Investment Objective
The Fund aims to provide income and capital growth, exceeding that of cash, over a rolling 3-year period.
Performance target: To outperform the Euro Short-Term Rate by at least 2.5% per annum, before the deduction of charges, over any 5 year period.
The Fund invests in bonds of any quality, including high yield (non-investment grade) bonds and distressed debt, of governments, companies or any other type of issuer in any country. The Fund may invest up to 30% of its assets in asset-backed and mortgage-backed securities (ABS/ MBS), including up to 10% of which may be high yield (non-investment grade, equivalent to BB+ rated or lower). The Fund may invest up to 20% of its assets in China onshore bonds traded through Bond Connect.
Reference Index
Euro Short-Term Rate
Performance
JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC | YTD | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2023 | 0.7 | 0.8 | 0.6 | 0.0 | 0.7 | 0.1 | 0.2 | 0.1 | 0.5 | 1.0 | 0.5 | 0.9 | 0.0 | |
2022 | 0.6 | 0.6 | 0.4 | 0.1 | 0.6 | 0.4 | 0.8 | 0.1 | 0.6 | 0.3 | 0.3 | 0.6 | 0.0 |