Vontobel Fund - TwentyFour Absolute Return Credit Fund

Investment Grade
ISIN
LU1599320444
Valor
36446926
Sedol
BQQ7GH5
98.11
NAV
As at 27 Mar 2024
0.45%

Investment objective

This bond fund aims to achieve a positive absolute return over a period of three years by keeping a modest level of volatility, while respecting risk diversification.


Key features

The fund can invest worldwide, with a focus on Europe, in corporate bonds and similar fixed-interest and floating-rate securities in various currencies of diverse issuers of good quality (investment grade). The fund can use derivative financial instruments for hedging purposes.


Approach

The experienced and diverse investment team takes high-conviction decisions based on rigorous macro-economic, technical and issuer analyses. In line with their continuous assessment of market conditions and future developments, the team allocates interest-rate and credit risks with the aim to benefit from any market environment. They select those securities and instruments within the investment universe in which they see the most rewarding yield and/or hedging values. The team actively adapts the portfolio to invest in attractive opportunities whenever they occur while keeping risks under control.

A short term bond fund that targets the very best risk-adjusted returns within fixed income while keeping volatility to a minimum.

The Vontobel Fund - TwentyFour Absolute Return Credit Fund (ARC) is an actively managed short term bond fund that aims to deliver steady returns in any market environment. With strict risk parameters and a focus on short dated investment grade bonds, ARC aims to capture nearly all the returns of higher risk strategies but with a fraction of the drawdowns expected in tougher market conditions.

Why invest?

  • We aim to achieve a positive absolute return in any market environment over three years, by keeping a modest level of volatility
  • A minimum of two-thirds of the fund is invested in 0-5yr investment grade bonds, which we consider the best source of risk-adjusted returns within fixed income
  • Smaller high conviction allocations to BB rated high yield, asset-backed securities (ABS) and 6-7yr investment grade bonds
  • A strong emphasis on stock selection seeking to generate alpha and further manage risks. All bond positions must pass a rigorous screening process to show they have good return potential with low expected volatility
  • We use zero leverage or shorting, and when allocating our mix of assets we choose to avoid emerging markets and high yield bonds rated below BB (the highest rating band in HY)

Investment team

Insights

All data is as at 27 Mar 2024 unless otherwise indicated.

Fund data
Portfolio Manager TwentyFour Asset Management LLP
Fund Domicile Luxembourg
Fund Currency GBP
Share Class Currency CHF
Year End 31 August
Share Class Launch date 25 Apr 2017
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 AT, CH, DE, GB, LU, SG
Nav Information
Highest since launch 103.90
Lowest since launch 93.27
Fund size in mln. GBP 2,909.73
Share class size in mln. CHF 27.92
Fees And Expenses
Management fee 0.40%
TER* 0.57% (31 Aug 2023)
OCF 0.57% (31 Aug 2023)
Identifiers
ISIN LU1599320444
Valor 36446926
Bloomberg VOTARHI LX
SEDOL BQQ7GH5
WKN A2DQ7V
Parties
Depository CACEIS 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 OCF OCF Date
AHN (hedged) CHF LU1734078154 Dist Retail 11 Dec 2017 0.40% 0.61% 31 Aug 2023 0.61% 31 Aug 2023
AHN (hedged) EUR LU1683487620 Dist Retail 12 Oct 2017 0.40% 0.61% 31 Aug 2023 0.61% 31 Aug 2023
AI GBP LU1267852249 Dist Institutional 28 Aug 2015 0.40% 0.51% 31 Aug 2023 0.51% 31 Aug 2023
AQG GBP LU1530788402 Dist Institutional 5 Dec 2016 0.25% 0.36% 31 Aug 2023 0.36% 31 Aug 2023
AQHG (hedged) USD LU1767065979 Dist Institutional 16 Feb 2018 0.25% 0.42% 31 Aug 2023 0.42% 31 Aug 2023
AQHG (hedged) EUR LU1530788238 Dist Institutional 5 Dec 2016 0.25% 0.42% 31 Aug 2023 0.42% 31 Aug 2023
AQHN (hedged) EUR LU1331789450 Dist Retail 18 Dec 2015 0.40% 0.61% 31 Aug 2023 0.61% 31 Aug 2023
AQHNG (hedged) USD LU1410502493 Dist Retail 18 May 2016 0.25% 0.46% 31 Aug 2023 0.46% 31 Aug 2023
AQN GBP LU1331789377 Dist Retail 18 Dec 2015 0.40% 0.55% 31 Aug 2023 0.55% 31 Aug 2023
AQNG GBP LU1368730674 Dist Retail 26 Feb 2016 0.25% 0.40% 31 Aug 2023 0.40% 31 Aug 2023
G GBP LU1273680238 Accum Institutional 28 Aug 2015 0.25% 0.36% 31 Aug 2023 0.36% 31 Aug 2023
HG (hedged) EUR LU1925065655 Accum Institutional 8 Jan 2019 0.25% 0.42% 31 Aug 2023 0.42% 31 Aug 2023
HI (hedged) CHF LU1599320444 Accum Institutional 25 Apr 2017 0.40% 0.57% 31 Aug 2023 0.57% 31 Aug 2023
HN (hedged) EUR LU1734078238 Accum Retail 11 Dec 2017 0.40% 0.61% 31 Aug 2023 0.61% 31 Aug 2023
HN (hedged) CHF LU2270707495 Accum Retail 17 Dec 2020 0.40% 0.61% 31 Aug 2023 0.61% 31 Aug 2023
HN (hedged) USD LU1767066357 Accum Retail 9 Feb 2018 0.40% 0.61% 31 Aug 2023 0.61% 31 Aug 2023
I GBP LU1267852082 Accum Institutional 28 Aug 2015 0.40% 0.51% 31 Aug 2023 0.51% 31 Aug 2023
N GBP LU1267852595 Accum Retail 28 Aug 2015 0.40% 0.55% 31 Aug 2023 0.55% 31 Aug 2023

* TER includes performance fee where applicable

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