Flexible Bonds

Dynamic Bond Fund

ISIN
GB00B5VNH238
Sedol
B5VNH23

The UCITS fund aims to provide an attractive level of income along with the opportunity for capital growth, by investing in a range of assets across the fixed income spectrum.
196.68
NAV
5.30%
Performance YTD
As at 30 Nov 2020

A UCITS fund that aims to provide an attractive level of income along with the opportunity for capital growth, by investing in a broad range of bonds and fixed income assets, including investment grade bonds, high yield bonds, government bonds and asset-backed securities. The fund has a highly flexible strategy, including the use of derivatives, enabling it to take advantage of prevailing market conditions as they change over time and therefore perform in both rising and declining rate environments throughout the economic cycle.

Investment Objective

The UCITS fund aims to provide an attractive level of income along with the opportunity for capital growth, by investing in a range of assets across the fixed income spectrum.

Investment Approach

The UCITS fund will adopt a highly flexible approach that enables TwentyFour to take advantage of prevailing market conditions as they change over time. The fund may invest in, or otherwise obtain exposure to, debt instruments from the whole range of fixed income assets including investment grade bonds, high yield bonds, government bonds, asset-backed securities and other bonds as determined by TwentyFour’s view on risk and reward over time.

The fund will also use derivatives, such as interest rate and credit derivatives, to either optimize exposures or reduce them according to TwentyFour’s market viewpoint, thereby giving the fund the opportunity to perform in both rising and declining rate environments throughout the credit cycle. The fund may also employ synthetic short positions both for hedging purposes and to take advantage of deterioration either in the market generally or with respect to specific issuers. The fund may also hedge some or all of its exposure in the foreign exchange markets.

Portfolio Managers

Insights

TwentyFour Blog

Time to Get Tactical in Treasuries?

Regular readers will know that we have a positive medium term view of spread products. This is based on a number of factors; valuations in our view are reasonably attractive compared to history, we are convinced that both monetary and fiscal stimulus will remain in place for an extended period of time, and perhaps most importantly we remain at a very early stage of the new cycle. Conversely, and for similar reasons, our view on government bonds at the moment is not bullish.

Read more

TwentyFour Blog

Barclays Boosts Case for Bank Bonds Over Equity

Barclays announced its results for the third quarter of 2020 this morning, with a number of media outlets opting to focus on a 6% year-on-year reduction in top-line income. But looking in more detail, in our view this was a solid set of numbers from the UK bank, a timely reminder of how robust the major banks have proven to be this year and how well they have managed their way through the current crisis.

Read more

All data is as at 30 Nov 2020 unless otherwise indicated.

Fund data
Portfolio Manager TwentyFour Asset Management LLP
Fund Domicile United Kingdom
Share Class Currency GBP
End of fiscal year 31 March
Index 3 month GBP Libor
Fund Launch Date 26 Apr 2010
Share Class Launch date 16 Jun 2010
Distribution type Acc
Dealing Daily
Minimum investment 50,000,000.00
ISA/SIPP Eligible Yes
Fund Registrations GB
Share Class Registrations GB
Nav Information
Highest since launch 196.71
Lowest since launch 94.99
Fund size in mln. 1,860.79
Fees And Expenses
Management fee 0.75%
OCF 0.78% (30 Sep 2019)
Identifiers
ISIN GB00B5VNH238
Bloomberg PTDBIAG LN
SEDOL B5VNH23
Parties
Authorised Corporate Director Maitland institutional Services Ltd
Auditor PricewaterhouseCoopers
Depository Northern Trust Global Services SE (UK Branch)
Registrar Maitland institutional Services Ltd

Available Share Classes

Share class Currency ISIN Distrib. Type Launch date Management fee OCF OCF Date
A acc (Net) GBP GB00B5KPRZ34 Acc Retail 16 Jun 2010 1.25% 1.28% 30 Sep 2019
A inc (Gross) GBP GB00B5M01B05 Dist Retail 16 Jun 2010 1.25% 1.28% 30 Sep 2019
I Acc (Gross) GBP GB00B5VNH238 Acc Institutional 16 Jun 2010 0.75% 0.78% 30 Sep 2019
I Acc (Net) GBP GB00B5VRV677 Acc Institutional 16 Jun 2010 0.75% 0.78% 30 Sep 2019
I Inc (Gross) GBP GB00B57GX403 Dist Institutional 16 Jun 2010 0.75% 0.78% 30 Sep 2019
I Inc (Net) GBP GB00B57TXN82 Dist Institutional 16 Jun 2010 0.75% 0.78% 30 Sep 2019
M Inc (Gross) GBP GB00B8BG8H54 Dist Institutional 7 Dec 2012 0.75% 0.78% 30 Sep 2019
Document Date EN
Factsheets & Commentaries
Factsheet Oct 2020
Monthly Commentary Oct 2020
KIIDs
KIID Jul 2020
Legal Documents
Sales Prospectus Aug 2019
Financial Reports
Annual Report Dec 2019
Policies
Remuneration Policy Dec 2014