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

4 funds available

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TwentyFour Sustainable Enhanced Income ABS Fund

Asset-Backed Securities

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Share class Currency ISIN Valor NAV YTD As at
A Acc GBP IE00BMX0BH45 - - -
A Inc GBP IE00BMX0BJ68 97.46 -5.06% 29 Jul 2022
TwentyFour Sustainable Multi Sector Credit Fund

Flexible Bonds

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Share class Currency ISIN Valor NAV YTD As at
A Inc GBP IE00BN4L5481 - - -
Vontobel Fund - TwentyFour Monument European Asset Backed Securities

Asset-Backed Securities

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Share class Currency ISIN Valor NAV YTD As at
A EUR LU1882612564 43753862 95.19 -4.25% 10 Aug 2022
AH (hedged) USD LU1882612994 43753876 102.84 -3.43% 10 Aug 2022
AH (hedged) CHF LU1882612648 43753868 95.48 -4.30% 10 Aug 2022
AH (hedged) GBP LU1882612721 43753874 98.07 -3.45% 10 Aug 2022
AHI (hedged) GBP LU2388185246 113723386 96.96 -3.16% 10 Aug 2022
AQHG (hedged) GBP LU2388185089 113724408 97.11 -3.07% 10 Aug 2022
AQHNG (hedged) GBP LU2388184868 113723425 97.06 -3.11% 10 Aug 2022
HG (hedged) GBP LU2388185162 113724426 96.90 -3.23% 10 Aug 2022
HI (hedged) CHF LU1602256296 36484864 97.97 -4.01% 10 Aug 2022
HI (hedged) USD LU1602256700 36484869 109.52 -3.19% 10 Aug 2022
HI (hedged) GBP LU2388185329 113723424 96.84 -3.28% 10 Aug 2022
HN (hedged) GBP LU1882613372 43753896 101.28 -3.23% 10 Aug 2022
HN (hedged) CHF LU1882613299 43753894 96.97 -4.06% 10 Aug 2022
HN (hedged) USD LU1882613455 43753897 104.84 -3.12% 10 Aug 2022
HNG (hedged) GBP LU2388184942 113724188 97.06 -3.11% 10 Aug 2022
I EUR LU1602255561 36484858 100.20 -3.95% 10 Aug 2022
N EUR LU1882613026 43753879 98.27 -3.98% 10 Aug 2022
Vontobel Fund - TwentyFour Sustainable Short Term Bond Income

Investment Grade

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Share class Currency ISIN Valor NAV YTD As at
AHI (hedged) EUR LU2081486727 51133685 92.39 -4.31% 10 Aug 2022
AHI (hedged) USD LU2210409616 56212864 97.89 -3.48% 10 Aug 2022
AHI (hedged) CHF LU2210410036 56212872 95.58 -4.46% 10 Aug 2022
AN GBP LU2386632371 113621592 95.92 -3.53% 10 Aug 2022
AQG GBP LU2081485596 51132454 93.39 -3.42% 10 Aug 2022
AQHNG (hedged) USD LU2403268092 114481675 94.84 -3.43% 10 Aug 2022
AQHNG (hedged) EUR LU2081486487 51132510 94.03 -4.32% 10 Aug 2022
AQI GBP LU2081485919 51151249 95.22 -3.51% 10 Aug 2022
AQN GBP LU2081486057 51151278 96.55 -3.56% 10 Aug 2022
AQNG GBP LU2081485679 51132474 92.72 -3.45% 10 Aug 2022
G GBP LU2081485240 51132430 98.33 -3.43% 10 Aug 2022
HI (hedged) EUR LU2081486560 51132543 95.68 -4.33% 10 Aug 2022
HI (hedged) USD LU2081487709 51155828 97.93 -3.45% 10 Aug 2022
HI (hedged) CHF LU2210409962 56212870 95.60 -4.40% 10 Aug 2022
HNG (hedged) EUR LU2081486214 51132436 94.95 -4.28% 10 Aug 2022
HNG (hedged) USD LU2386631993 113621000 95.89 -3.47% 10 Aug 2022
N GBP LU2081485836 51151238 96.55 -3.56% 10 Aug 2022
NG GBP LU2081485323 51132452 98.20 -3.44% 10 Aug 2022

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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Latest ESG insights

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