Flexible Bonds

Vontobel Fund - TwentyFour Strategic Income Fund

ISIN
LU1322871390
Valor
30445160
Sedol
BYXDH57

Investment objective

This bond fund aims to achieve an attractive level of income and capital growth over a full economic cycle, while respecting risk diversification.


Key features

The fund invests worldwide in a variety of government bonds, supranational bonds, investment-grade and high-yield corporate bonds, emerging market bonds, contingent convertible bonds, and asset-backed securities, denominated in various currencies. At the point of purchase, exchange rate risks against the fund currency are fully hedged. The fund can use derivative financial instruments for hedging purposes.


Approach

The experienced investment team takes a high-conviction approach to finding the best relative-value opportunities available in the investment universe, based on rigorous macro-economic and technical analyses combined with detailed credit analysis. Striving to benefit throughout the credit cycle from both rising and declining rate environments, the team flexibly allocates interest-rate and credit risks in line with their continuous assessment of market conditions and future developments. They also use interest-rate and credit derivatives to either optimize or reduce exposures.

121.44
NAV
4.93%
Performance YTD
3 stars
As at 2 Feb 2023 As of 31 Dec 2022

The Vontobel Fund - TwentyFour Strategic Income Fund (SIF) is an unconstrained fund that seeks value from across the global bond markets.

SIF is TwentyFour’s flagship ‘go anywhere’ bond fund, designed as a core fixed income allocation to be held throughout the economic cycle. The managers’ approach is dynamic and high conviction, with the portfolio able to adjust quickly to target new opportunities and mitigate risks as market conditions evolve.

Why invest?

  • The primary goal is an attractive level of income at all times, with a secondary goal of capital growth where conditions permit
  • An unconstrained, global and flexible fund not tied to any benchmark
  • An investment universe spanning government bonds, investment grade, high yield and emerging markets, as well as more specialist sectors such as subordinated financials and asset-backed securities
  • High conviction approach seeks relative value by geography, sector, bond issuer and type of bond, looking to capture alpha from the bottom-up as well as top-down
  • Long-only and unlevered, but with a hedging toolkit available for managing currency, interest rate and credit risk

Investment team

Insights

All data is as at 30 Dec 2022 unless otherwise indicated.

Fund performance

Cumulative performance

1M YTD 3 yrs p.a. 5 yrs p.a. Since Inception
I GBP 0.6% -12.7% -1.4% 0.5% 15.7%

Performance for 12 month periods

01.12 - 12.12 01.13 - 12.13 01.14 - 12.14 01.15 - 12.15 01.16 - 12.16 01.17 - 12.17 01.18 - 12.18 01.19 - 12.19 01.20 - 12.20 01.21 - 12.21 01.22 - 12.22
I GBP NA NA NA -1.6% 5.6% 8.8% -2.5% 9.4% 7.5% 2.1% -12.7%

Performance for calendar years

Portfolio characteristics

Portfolio
Volatility 9.6%
Sharpe Ratio negative
Interest rate duration 3.7
Credit duration 2.8
Average Rating BBB-
Number of positions 340.0
[1 year]

All data is as at 2 Feb 2023 unless otherwise indicated.

Fund data
Portfolio Manager TwentyFour Asset Management LLP
Fund Domicile Luxembourg
Fund Currency GBP
Share Class Currency GBP
End of fiscal year 31 August
Share Class Launch date 30 Nov 2015
Distribution type Accum
SFDR Classification Article 8
Fund Registrations AT, CH, DE, ES, FI, FR, GB, IE, IT, LI, LU, NL, NO, PT, SE, SG
Share Class Registrations CH, FI, GB, IE, LU, NO, SE, SG
Nav Information
Highest since launch 134.27
Lowest since launch 94.19
Fund size in mln. GBP 4,154.04
Share class size in mln. GBP 136.94
Fees And Expenses
Management fee 0.60%
TER* 0.70% (31 Aug 2022)
Identifiers
ISIN LU1322871390
Valor 30445160
Bloomberg VOTFGIG LX
SEDOL BYXDH57
WKN A2DXBS
Parties
Depository RBC Investor Services Bank S.A.
Management Company Vontobel Asset Management S.A.
Swiss Paying Agent Bank Vontobel AG
Swiss Representative Vontobel Fonds Services AG

Available Share Classes

Share class Currency ISIN Distrib. Type Launch date Management fee TER* TER Date
AH (hedged) EUR LU1380459518 Dist Retail 23 Mar 2016 1.20% 1.40% 31 Aug 2022
AH (hedged) USD LU1380459609 Dist Retail 23 Mar 2016 1.20% 1.40% 31 Aug 2022
AHN (hedged) EUR LU1734078311 Dist Retail 11 Dec 2017 0.60% 0.80% 31 Aug 2022
AHN (hedged) CHF LU1683482407 Dist Retail 4 Oct 2017 0.60% 0.80% 31 Aug 2022
AQ GBP LU1695534591 Dist Retail 10 Oct 2017 1.20% 1.34% 31 Aug 2022
AQG GBP LU1322872018 Dist Institutional 30 Nov 2015 0.45% 0.55% 31 Aug 2022
AQH (hedged) Gross USD LU1695534674 Dist Retail 10 Oct 2017 1.20% 1.40% 31 Aug 2022
AQH (hedged) Gross EUR LU1695534757 Dist Retail 10 Oct 2017 1.20% 1.40% 31 Aug 2022
AQHG (hedged) EUR LU1816229899 Dist Institutional 18 May 2018 0.45% 0.61% 31 Aug 2022
AQHG (hedged) USD LU1816230046 Dist Institutional 18 May 2018 0.45% 0.61% 31 Aug 2022
AQHI (hedged) USD LU1331792082 Dist Institutional 18 Dec 2015 0.60% 0.76% 31 Aug 2022
AQHN (hedged) EUR LU1325135033 Dist Retail 30 Nov 2015 0.60% 0.80% 31 Aug 2022
AQHNG (hedged) EUR LU1325134226 Dist Retail 30 Nov 2015 0.45% 0.65% 31 Aug 2022
AQHNG (hedged) USD LU1451580523 Dist Retail 22 Jul 2016 0.45% 0.65% 31 Aug 2022
AQN GBP LU1322871630 Dist Retail 30 Nov 2015 0.60% 0.74% 31 Aug 2022
AQNG GBP LU1695534328 Dist Retail 10 Oct 2017 0.45% 0.59% 31 Aug 2022
G GBP LU1322871713 Accum Institutional 30 Nov 2015 0.45% 0.55% 31 Aug 2022
H (hedged) USD LU1695535135 Accum Retail 10 Oct 2017 1.20% 1.40% 31 Aug 2022
H (hedged) EUR LU1551754515 Accum Retail 31 Jan 2017 1.20% 1.40% 31 Aug 2022
HG (hedged) EUR LU1717117623 Accum Institutional 10 Nov 2017 0.45% 0.61% 31 Aug 2022
HG (hedged) USD LU1717117896 Accum Institutional 10 Nov 2017 0.45% 0.61% 31 Aug 2022
HI (hedged) USD LU1325144027 Accum Institutional 30 Nov 2015 0.60% 0.76% 31 Aug 2022
HI (hedged) EUR LU1325141510 Accum Institutional 30 Nov 2015 0.60% 0.76% 31 Aug 2022
HN (hedged) USD LU1767066431 Accum Retail 9 Feb 2018 0.60% 0.80% 31 Aug 2022
HNG (hedged) EUR LU1325133921 Accum Retail 30 Nov 2015 0.45% 0.65% 31 Aug 2022
HNG (hedged) USD LU1695535051 Accum Retail 10 Oct 2017 0.45% 0.65% 31 Aug 2022
I GBP LU1322871390 Accum Institutional 30 Nov 2015 0.60% 0.70% 31 Aug 2022
N GBP LU1322871556 Accum Retail 30 Nov 2015 0.60% 0.74% 31 Aug 2022
NG GBP LU1322871986 Accum Retail 30 Nov 2015 0.45% 0.59% 31 Aug 2022

* TER includes performance fee where applicable

All data is as at 30 Dec 2022 unless otherwise indicated.

Regional Exposure

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Factsheets & Commentaries
Factsheet Dec 2022
Monthly Commentary Dec 2022
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AGM EGM invitation Jan 2023
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Notification to Investors Jan 2022
Notification to Investors Sep 2021
Notification to Investors Jul 2021
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Notification to Investors Mar 2021
Notification to Investors Feb 2021
Notification to Investors Nov 2019
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Annual Distribution Nov 2022
Annual Report Aug 2022
Distribution Dates Jan 2023
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Semi-Annual Report Feb 2022
UK Tax Reporting Aug 2021
Dealing Information
Holiday Calendar 2023 Jan 2023
Order Subscription Form Jan 2020
Policies
Sanctioned Countries Oct 2022
Shareclass Naming Convention Jan 2022