Vontobel Fund - TwentyFour Strategic Income Fund

Flexible Bonds
ISIN
LU1322871390
Valor
30445160
Sedol
BYXDH57
137.45
NAV
As at 7 Nov 2024
8.08%

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.

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 Sep 2024 unless otherwise indicated.

Fund performance

Cumulative performance

1M YTD 1Y 3 yrs p.a. 5 yrs p.a. Since Inception
I GBP 1.2% 8.6% 16.6% 1.2% 3.1% 38.1%

Performance for calendar years

2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
I GBP 9.9% -12.7% 2.1% 7.5% 9.4% -2.5% 8.8% 5.6% NA NA

All data is as at 7 Nov 2024 unless otherwise indicated.

Fund data
Portfolio Manager TwentyFour Asset Management LLP
Fund Domicile Luxembourg
Fund Currency GBP
Share Class Currency GBP
Risk Level 4.00 (7 Oct 2024)
Year End 31 August
Share Class Launch date 30 Nov 2015
Distribution Type Accumulating
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 138.33
Lowest since launch 94.19
Fund size in mln. GBP 4,114.91
Share class size in mln. GBP 81.02
Fees And Expenses
Management fee 0.60%
TER* 0.70% (29 Feb 2024)
OCF 0.70% (29 Feb 2024)
Identifiers
ISIN LU1322871390
Valor 30445160
Bloomberg VOTFGIG LX
SEDOL BYXDH57
WKN A2DXBS
Parties
Depository State Street Bank International GmbH (Luxembourg Branch)
Management Company Vontobel Asset Management SA, Luxembourg
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* OCF
AH (hedged) EUR LU1380459518 Distributing Retail 23 Mar 2016 1.20% 1.40% (29 Feb 2024) 1.37% (7 Oct 2024)
AH (hedged) USD LU1380459609 Distributing Retail 23 Mar 2016 1.20% 1.40% (29 Feb 2024) 1.37% (7 Oct 2024)
AHN (hedged) EUR LU1734078311 Distributing Retail 11 Dec 2017 0.60% 0.80% (29 Feb 2024) 0.77% (7 Oct 2024)
AHN (hedged) CHF LU1683482407 Distributing Retail 4 Oct 2017 0.60% 0.80% (29 Feb 2024) 0.77% (7 Oct 2024)
AQ GBP LU1695534591 Distributing Retail 10 Oct 2017 1.20% 1.34% (29 Feb 2024) 1.34% (29 Feb 2024)
AQG GBP LU1322872018 Distributing Institutional 30 Nov 2015 0.45% 0.55% (29 Feb 2024) 0.55% (29 Feb 2024)
AQH (hedged) Gross USD LU1695534674 Distributing Retail 10 Oct 2017 1.20% 1.40% (29 Feb 2024) 1.37% (7 Oct 2024)
AQH (hedged) Gross EUR LU1695534757 Distributing Retail 10 Oct 2017 1.20% 1.40% (29 Feb 2024) 1.37% (7 Oct 2024)
AQHG (hedged) EUR LU1816229899 Distributing Institutional 18 May 2018 0.45% 0.61% (29 Feb 2024) 0.58% (7 Oct 2024)
AQHG (hedged) USD LU1816230046 Distributing Institutional 18 May 2018 0.45% 0.61% (29 Feb 2024) 0.58% (7 Oct 2024)
AQHI (hedged) USD LU1331792082 Distributing Institutional 18 Dec 2015 0.60% 0.76% (29 Feb 2024) 0.73% (7 Oct 2024)
AQHN (hedged) EUR LU1325135033 Distributing Retail 30 Nov 2015 0.60% 0.80% (29 Feb 2024) 0.77% (7 Oct 2024)
AQHNG (hedged) EUR LU1325134226 Distributing Retail 30 Nov 2015 0.45% 0.65% (29 Feb 2024) 0.62% (7 Oct 2024)
AQHNG (hedged) USD LU1451580523 Distributing Retail 22 Jul 2016 0.45% 0.65% (29 Feb 2024) 0.62% (7 Oct 2024)
AQN GBP LU1322871630 Distributing Retail 30 Nov 2015 0.60% 0.74% (29 Feb 2024) 0.74% (29 Feb 2024)
AQNG GBP LU1695534328 Distributing Retail 10 Oct 2017 0.45% 0.59% (29 Feb 2024) 0.59% (29 Feb 2024)
G GBP LU1322871713 Accumulating Institutional 30 Nov 2015 0.45% 0.55% (29 Feb 2024) 0.55% (29 Feb 2024)
H (hedged) USD LU1695535135 Accumulating Retail 10 Oct 2017 1.20% 1.40% (29 Feb 2024) 1.37% (7 Oct 2024)
H (hedged) EUR LU1551754515 Accumulating Retail 31 Jan 2017 1.20% 1.40% (29 Feb 2024) 1.37% (7 Oct 2024)
HG (hedged) EUR LU1717117623 Accumulating Institutional 10 Nov 2017 0.45% 0.61% (29 Feb 2024) 0.58% (7 Oct 2024)
HG (hedged) USD LU1717117896 Accumulating Institutional 10 Nov 2017 0.45% 0.61% (29 Feb 2024) 0.58% (7 Oct 2024)
HI (hedged) USD LU1325144027 Accumulating Institutional 30 Nov 2015 0.60% 0.76% (29 Feb 2024) 0.73% (7 Oct 2024)
HI (hedged) EUR LU1325141510 Accumulating Institutional 30 Nov 2015 0.60% 0.76% (29 Feb 2024) 0.73% (7 Oct 2024)
HN (hedged) USD LU1767066431 Accumulating Retail 9 Feb 2018 0.60% 0.80% (29 Feb 2024) 0.77% (7 Oct 2024)
HNG (hedged) EUR LU1325133921 Accumulating Retail 30 Nov 2015 0.45% 0.65% (29 Feb 2024) 0.62% (7 Oct 2024)
HNG (hedged) USD LU1695535051 Accumulating Retail 10 Oct 2017 0.45% 0.65% (29 Feb 2024) 0.62% (7 Oct 2024)
I GBP LU1322871390 Accumulating Institutional 30 Nov 2015 0.60% 0.70% (29 Feb 2024) 0.70% (29 Feb 2024)
N GBP LU1322871556 Accumulating Retail 30 Nov 2015 0.60% 0.74% (29 Feb 2024) 0.74% (29 Feb 2024)
NG GBP LU1322871986 Accumulating Retail 30 Nov 2015 0.45% 0.59% (29 Feb 2024) 0.59% (29 Feb 2024)

Subject to change, without notice, only the current prospectus or comparable document of the fund is legally binding.

* TER includes performance fee where applicable

All data is as at 30 Sep 2024 unless otherwise indicated.

Rating Structure

Regional Exposure

Major Sectors

Maturity Structure

Maturity Weighting
0 - 1 yr 6.7%
1 yr - 3 yr 20.2%
3 yr - 5 yr 29.9%
5 yr - 7 yr 10.0%
7 yr - 10 yr 29.9%
10 yr - 15 yr 0.9%
15 yr+ 1.5%
Cash & Equiv 0.9%

View all documents View latest documents

Document Date EN
Factsheets & Commentaries
Factsheet Sep 2024
Monthly Commentary Sep 2024
UCITS KIIDs
Key Investor Information Document (KIID) Oct 2024
Legal Documents
AGM EGM invitation Jan 2024
AGM EGM invitation Jan 2023
AGM EGM invitation Jan 2022
AGM EGM invitation May 2021
AGM EGM invitation Jan 2021
AGM EGM invitation Jan 2020
Articles of Association Apr 2016
Notification to Investors Oct 2024
Notification to Investors Sep 2024
Notification to Investors Jun 2024
Notification to Investors May 2023
Notification to Investors Nov 2022
Notification to Investors Jan 2022
Notification to Investors Sep 2021
Notification to Investors Jul 2021
Notification to Investors May 2021
Notification to Investors Mar 2021
Notification to Investors Feb 2021
Notification to Investors Nov 2019
Sales Prospectus Oct 2024
View more Legal Documents View less Legal Documents
Sustainability Related Disclosures
Periodic Disclosure Aug 2023
Pre-contractual Disclosure Jul 2024
Statement on principal adverse impacts of investment decisions on sustainability factors Jun 2024
Sustainability Related Disclosures Mar 2024
Financial Reports
Annual Distribution Nov 2023
Annual Report Aug 2023
Distribution Dates Jan 2024
Quarterly Distribution Sep 2024
Quarterly Distribution Jun 2024
Quarterly Distribution Mar 2024
Semi-Annual Report Feb 2024
Semi Annual Distribution Apr 2024
Semi Annual Distribution Apr 2023
UK Tax Reporting Aug 2023
UK Tax Reporting Aug 2022
View more Financial Reports View less Financial Reports
Dealing Information
Holiday Calendar 2024 Jan 2024
Order Subscription Form Oct 2024
Policies
Sanctioned Countries Oct 2022
Shareclass Naming Convention Jan 2022

RISKS

Subject to change, without notice, only the current prospectus or comparable document of the fund is legally binding.

  • Limited participation in the potential of single securities

  • Success of single security analysis and active management cannot be guaranteed

  • It cannot be guaranteed that the investor will recover the capital invested

  • Derivatives entail risks relating to liquidity, leverage and credit fluctuations, illiquidity and volatility

  • Interest rates may vary, bonds suffer price declines on rising interest rates

  • Investment universe may involve investments in countries where the local capital markets may not yet qualify as recognised capital market

  • Investments in foreign currencies are subject to currency fluctuations

  • Money market investments are associated with risks of a money market, such as interest rate fluctuations, inflation risk and economic instability

  • Information on how environmental and social objectives are achieved and how sustainability risks are managed in this Fund may be obtained from here.

  • The Sub-Fund’s investments may be subject to sustainability risks. The sustainability risks that the Sub-Fund may be subject to are likely to have an immaterial impact on the value of the Sub-Funds’ investments in the medium to long term due to the mitigating nature of the Sub-Fund’s ESG approach.
  • The Sub-Funds' performance may be positively or negatively affected by its sustainability strategy.
  • The ability to meet social or environmental objectives might be affected by incomplete or inaccurate data from third-party providers.

Morningstar rating: © 2024 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.