"Abandon all hope ye who enter here"
This bond fund aims to achieve an attractive level of income and capital growth over a full economic cycle, while respecting risk diversification.
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.
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.
“This long-only, unlevered strategic bond fund offers a complete solution designed to work through every phase of the market cycle while preserving capital and generating income
All data is as at 30 Jun 2022 unless otherwise indicated.
|1M||YTD||3 yrs p.a.||5 yrs p.a.||Since Inception|
|AH (hedged) USD||-5.5%||-13.6%||-0.6%||1.2%||19.4%|
|07.11 - 06.12||07.12 - 06.13||07.13 - 06.14||07.14 - 06.15||07.15 - 06.16||07.16 - 06.17||07.17 - 06.18||07.18 - 06.19||07.19 - 06.20||07.20 - 06.21||07.21 - 06.22|
|AH (hedged) USD||NA||NA||NA||NA||NA||10.1%||2.5%||5.6%||3.7%||10.3%||-14.1%|
|Interest rate duration||4.0|
|Expected annual yield||10.1%|
|Number of positions||390.0|
All data is as at 10 Aug 2022 unless otherwise indicated.
|Portfolio Manager||TwentyFour Asset Management LLP|
|Share Class Currency||USD|
|End of fiscal year||31 August|
|Share Class Launch date||23 Mar 2016|
|Last distribution||3.12 (24 Nov 2021)|
|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||AT, CH, DE, ES, FI, FR, GB, IT, LU, NO, SE, SG|
|Highest since launch||119.51|
|Lowest since launch||97.24|
|Fund size in mln.||GBP 4,527.91|
|Share class size in mln.||USD 15.99|
|TER*||1.40% (28 Feb 2022)|
|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|
|Share class||Currency||ISIN||Distrib.||Type||Launch date||Management fee||TER*||TER Date|
|AH (hedged)||USD||LU1380459609||Dist||Retail||23 Mar 2016||1.20%||1.40%||28 Feb 2022|
|AH (hedged)||EUR||LU1380459518||Dist||Retail||23 Mar 2016||1.20%||1.40%||28 Feb 2022|
|AHN (hedged)||CHF||LU1683482407||Dist||Retail||4 Oct 2017||0.60%||0.80%||28 Feb 2022|
|AHN (hedged)||EUR||LU1734078311||Dist||Retail||11 Dec 2017||0.60%||0.80%||28 Feb 2022|
|AQ||GBP||LU1695534591||Dist||Retail||10 Oct 2017||1.20%||1.34%||28 Feb 2022|
|AQG||GBP||LU1322872018||Dist||Institutional||30 Nov 2015||0.45%||0.55%||28 Feb 2022|
|AQH (hedged) Gross||EUR||LU1695534757||Dist||Retail||10 Oct 2017||1.20%||1.40%||28 Feb 2022|
|AQH (hedged) Gross||USD||LU1695534674||Dist||Retail||10 Oct 2017||1.20%||1.40%||28 Feb 2022|
|AQHG (hedged)||EUR||LU1816229899||Dist||Institutional||18 May 2018||0.45%||0.61%||28 Feb 2022|
|AQHG (hedged)||USD||LU1816230046||Dist||Institutional||18 May 2018||0.45%||0.61%||28 Feb 2022|
|AQHI (hedged)||USD||LU1331792082||Dist||Institutional||18 Dec 2015||0.60%||0.76%||28 Feb 2022|
|AQHN (hedged)||EUR||LU1325135033||Dist||Retail||30 Nov 2015||0.60%||0.80%||28 Feb 2022|
|AQHNG (hedged)||EUR||LU1325134226||Dist||Retail||30 Nov 2015||0.45%||0.65%||28 Feb 2022|
|AQHNG (hedged)||USD||LU1451580523||Dist||Retail||22 Jul 2016||0.45%||0.65%||28 Feb 2022|
|AQN||GBP||LU1322871630||Dist||Retail||30 Nov 2015||0.60%||0.74%||28 Feb 2022|
|AQNG||GBP||LU1695534328||Dist||Retail||10 Oct 2017||0.45%||0.59%||28 Feb 2022|
|G||GBP||LU1322871713||Accum||Institutional||30 Nov 2015||0.45%||0.55%||28 Feb 2022|
|H (hedged)||USD||LU1695535135||Accum||Retail||10 Oct 2017||1.20%||1.40%||28 Feb 2022|
|H (hedged)||EUR||LU1551754515||Accum||Retail||31 Jan 2017||1.20%||1.40%||28 Feb 2022|
|HG (hedged)||USD||LU1717117896||Accum||Institutional||10 Nov 2017||0.45%||0.61%||28 Feb 2022|
|HG (hedged)||EUR||LU1717117623||Accum||Institutional||10 Nov 2017||0.45%||0.61%||28 Feb 2022|
|HI (hedged)||EUR||LU1325141510||Accum||Institutional||30 Nov 2015||0.60%||0.76%||28 Feb 2022|
|HI (hedged)||USD||LU1325144027||Accum||Institutional||30 Nov 2015||0.60%||0.76%||28 Feb 2022|
|HN (hedged)||USD||LU1767066431||Accum||Retail||9 Feb 2018||0.60%||0.80%||28 Feb 2022|
|HNG (hedged)||EUR||LU1325133921||Accum||Retail||30 Nov 2015||0.45%||0.65%||28 Feb 2022|
|HNG (hedged)||USD||LU1695535051||Accum||Retail||10 Oct 2017||0.45%||0.65%||28 Feb 2022|
|I||GBP||LU1322871390||Accum||Institutional||30 Nov 2015||0.60%||0.70%||28 Feb 2022|
|N||GBP||LU1322871556||Accum||Retail||30 Nov 2015||0.60%||0.74%||28 Feb 2022|
|NG||GBP||LU1322871986||Accum||Retail||30 Nov 2015||0.45%||0.59%||28 Feb 2022|
* TER includes performance fee where applicable
All data is as at 30 Jun 2022 unless otherwise indicated.
View all documents View latest documents
|Factsheets & Commentaries|
|Monthly Commentary||Jul 2022|
|Product Flyer||Feb 2022|
|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||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||Jan 2022|
|View more Legal Documents View less Legal Documents|
|Annual Distribution||Nov 2021|
|Annual Report||Aug 2021|
|Distribution Dates||Jan 2022|
|Quarterly Distribution||Jun 2022|
|Semi-Annual Report||Feb 2022|
|UK Tax Reporting||Aug 2021|
|Holiday Calendar 2022||Jun 2022|
|Order Subscription Form||Jan 2020|
|Sanctioned Countries||Sep 2016|
|Shareclass Naming Convention||Jan 2022|
The Sub-Fund promotes environmental and social characteristics by following integration and exclusions approaches by investing in debt securities of companies with favourable Environmental, and Social scores.
No sustainable investment objective
This financial product promotes environmental or social characteristics, but does not have as its objective a sustainable investment.
Environmental or social characteristics of the financial product
The Sub-Fund invests in debt securities of companies with favourable Environmental and Social combined scores. To define the investment universe, the team applies a sustainability screening based on a proprietary scoring model to include only those issuers whose sustainability scores exceed the defined minimum.
Our investment process consists of detailed, systematic qualitative and quantitative analysis of a potential investee’s sustainability risks and sustainability factors (collectively Sustainability Indicators). Integrating Sustainability Indicators is a central pillar in the investment process with the aim of improving the long-term risk-return characteristics of the sub-fund’s portfolio and supporting elevated social or environmental practices by the investee companies.
Proportion of investments
We have applied our sustainability selection criteria to the majority of the securities in the sub-fund.
Monitoring of environmental or social characteristics
Compliance with the environmental and social characteristics is monitored on an on-going basis.
Companies must have a combined E and S score above a minimum threshold based on our proprietary scoring model and we positively screen companies through a comprehensive analysis process, which may include the use of specialized rating agencies and systems.
In addition to the scoring of securities, the portfolio management system enables us to understand positive or negative changes and to assess individual bonds on a relative value basis, given E and S factors – in this sense the ESG assessment does not solely dictate buy or sell recommendations, but it is part of an overall assessment of the validity of an investment decision. Further information on the model and the ESG approach can be found at https://www.twentyfouram.com/responsible-investment.
Data sources and processing
The sustainability ratings are based upon information raw data from specialized third-party ESG data providers compiled and evaluated in the proprietary in-house sustainability model database. Additional fundamental information from companies, media, NGOs as well as international organizations is evaluated in the database. The major third-party ESG data provider is ASSET4.
Limitations to methodologies and data
The data obtained from third-party data providers or issuers may be incomplete, inaccurate, or unavailable and the assumptions or models on which internal analysis rests may have flaws that render the internal assessment incomplete or inaccurate. As a result, there exists a risk of incorrectly assessing a security or issuer, resulting in the incorrect inclusion or exclusion of a security. There is also a risk we may not apply the relevant criteria of the ESG research correctly or that the sub-fund could have indirect exposure to issuers who do not meet the relevant criteria.
Each asset in the portfolio has its sustainability performance reevaluated using the sustainability framework once a year by our investment team.
The sub-fund applies the Vontobel Asset Management voting and engagement policies. For the equity funds, voting rights are executed under the responsibility of the portfolio manager, by using proxy service providers for research, voting recommendations and voting administration. Bond investors do not have voting rights. Engagement is part of the ESG research process. It includes communications between the ESG research team and the management teams of investee companies, typically in case of specific issues ore controversies that may cover ESG concerns.
Designated reference benchmark
This sub-fund does not have a designated reference ESG benchmark, but applies a conventional benchmark whose construction does not take into account ESG criteria.