Sustainable

Our Sustainable funds are designed to reward bond issuers that demonstrate sound Environmental, Social and Governance practices, while penalising those that don’t.

These funds deploy a negative screen that rules out all the sectors investors concerned with sustainability would expect – alcohol, tobacco, gambling and so on – but then crucially add a positive screen with a minimum threshold for our ESG score. Our research has shown that with this proprietary mix of positive and negative screens, which we have tailored to the specific challenges of sustainable investing in fixed income, our investors don’t need to sacrifice returns in order to pursue sustainable objectives.

Learn more about our approach to Sustainability

Funds

3 funds available
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TwentyFour Sustainable Enhanced Income ABS Fund
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Asset-Backed Securities
Share class Currency ISIN Valor NAV YTD As at
A Acc GBP IE00BMX0BH45 123.40 4.97% 10 May 2024
A Inc GBP IE00BMX0BJ68 107.95 4.97% 10 May 2024
Acc CHF IE000N38Y625 109.89 3.56% 10 May 2024
Investment Grade
Share class Currency ISIN Valor NAV YTD As at
AHI (hedged) EUR LU2081486727 51133685 86.06 1.39% 16 May 2024
AHI (hedged) USD LU2210409616 56212864 102.35 1.95% 16 May 2024
AHI (hedged) CHF LU2210410036 56212872 90.68 0.39% 16 May 2024
AN GBP LU2386632371 113621592 96.19 1.92% 16 May 2024
AQG GBP LU2081485596 51132454 94.17 2.00% 16 May 2024
AQHNG (hedged) EUR LU2081486487 51132510 92.20 1.43% 16 May 2024
AQHNG (hedged) USD LU2403268092 114481675 96.45 2.01% 16 May 2024
AQI GBP LU2081485919 51151249 95.95 1.94% 16 May 2024
AQN GBP LU2081486057 51151278 97.87 1.92% 16 May 2024
AQNG GBP LU2081485679 51132474 93.57 1.98% 16 May 2024
G GBP LU2081485240 51132430 105.96 1.99% 16 May 2024
HI (hedged) EUR LU2081486560 51132543 99.80 1.31% 16 May 2024
HI (hedged) CHF LU2210409962 56212870 96.66 0.41% 16 May 2024
HI (hedged) USD LU2081487709 51155828 106.05 1.95% 16 May 2024
HNG (hedged) EUR LU2081486214 51132436 99.40 1.40% 16 May 2024
HNG (hedged) USD LU2386631993 113621000 104.08 2.02% 16 May 2024
N GBP LU2081485836 51151238 103.67 1.92% 16 May 2024
NG GBP LU2081485323 51132452 105.75 1.98% 16 May 2024
Flexible Bonds
Share class Currency ISIN Valor NAV YTD As at
AQG GBP LU2549760085 122680202 102.35 3.60% 16 May 2024
AQHG (hedged) USD LU2549759400 122678960 107.06 3.66% 16 May 2024
AQHG (hedged) EUR LU2549760838 122677864 108.08 3.06% 16 May 2024
AQHNG (hedged) EUR LU2549761489 122677868 108.08 3.06% 16 May 2024
AQHNG (hedged) USD LU2549759582 122680198 110.67 3.64% 16 May 2024
AQI GBP LU2549759665 122680199 109.92 3.55% 16 May 2024
AQN GBP LU2549760242 122677863 103.50 3.53% 16 May 2024
AQNG GBP LU2549759749 122680200 102.26 3.58% 16 May 2024
G GBP LU2549760168 122677837 110.20 3.60% 16 May 2024
HG (hedged) USD LU2549759152 122678854 110.67 3.64% 16 May 2024
HG (hedged) EUR LU2549761059 122677866 108.08 3.06% 16 May 2024
HNG (hedged) USD LU2549759236 122678955 110.67 3.64% 16 May 2024
HNG (hedged) EUR LU2549758345 122680411 108.05 3.03% 16 May 2024
I GBP LU2549760598 122677887 109.92 3.55% 16 May 2024
N GBP LU2549760325 122677872 109.89 3.53% 16 May 2024
NG GBP LU2549761562 122677869 110.14 3.59% 16 May 2024
R GBP LU2549761646 122677870 110.41 3.66% 16 May 2024

Why choose active ESG?

At TwentyFour, we believe a truly sustainable approach to bond investing requires active management. Here are five reasons why.

+ The data problem

ESG data in the fixed income space is often limited and typically covers only up to 60% of the investable universe, so index construction can be difficult and unreliable. Active managers are able to fill this data gap through rigorous in-house research.

+ Inconsistent scoring

Different ESG data providers often award the same company vastly different ESG scores based on the issues they consider material. For example, Tesla typically gets a high environmental score for its work on electric vehicles but is given a low governance score and marked down for toxic material mining practices. So is it a good or bad ESG investment? That will depend heavily on the data provider, and what weighting their scoring process gives to the E versus the G.

+ Qualitative metrics

Active research takes into account qualitative metrics such as controversies, which rules-based models often struggle to pick up. Even when they do, what some of these models consider material may not be a negative issue. For example, the Asset4 model considers acquisitions a ‘controversy’, something the TwentyFour portfolio management team may disagree with in certain circumstances, since acquisitions are not inherently negative to bondholders and as such should be judged on a case by case basis.

+ Forced buyers

Passive funds can become forced buyers when an index is rebalanced, and conversely cannot sell out of a company that is in the index. As a result, engagement that will actually drive change is difficult or impossible.

+ Static approach

Passive investing doesn’t take into account momentum, i.e. a company’s movement in the direction of positive or negative change. Negative screening rules can work in some circumstances, but the role of sustainable investing is also to push for better ESG outcomes, for which an active approach is far better suited.

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