Euro CLOs a top pick for 2022
This bond fund aims to provide an attractive level of income relative to prevailing interest rates, while maintaining a strong focus on capital preservation and respecting risk diversification.
The fund invests with a focus on Europe in fixed-income securities, particularly asset-backed securities, in various currencies of diverse issuers of good quality (at least low investment grade). The fund can use derivative financial instruments for hedging purposes.
The experienced and diverse investment team focuses initially on capital preservation, avoiding defaults and mitigating volatility, as well as accessing an attractive revenue stream on a risk-adjusted basis. The team drives this by a thorough analysis of fundamental credit risk as well as by the liquidity profile of each position and the relative value present in the portfolio compared to the market. The team extensively mitigates interest-rate and currency risks by investing solely in floating-rate bonds and hedging currency exposures.
A fund that invests across the full range of investment grade European ABS, using the natural advantages of the asset class and a vastly experienced team to target stable, attractive returns.
The European ABS market is split broadly into four areas, though certain sub-sets of these sectors are considered important distinct products in their own right, such as Auto ABS and Credit Card ABS.
From the beginning we built our team of investment professionals to reflect the structure of today’s fixed income market. From structuring and ratings specialists to trading and investment banking, we have people who know the bond markets inside out. Our team is deliberately drawn from a diverse range of nationalities and cultures. This is how we look to escape the echo chamber, using diverse insights from people who are not having the same conversations and reading the same press.
Speculation on the timing of the Bank of England’s first post-pandemic rate hike has been rife. But whether the BoE hikes rates later this week, next month or even waits until after year-end, it is worth thinking about what it will mean for the general public, a step away from the financial markets.
All data is as at 29 Oct 2021 unless otherwise indicated.
|1M||YTD||3 yrs p.a.||Since Inception|
|HI (hedged) USD||0.1%||2.3%||2.5%||12.9%|
|1 Nov 2016 - 29 Oct 2017||1 Nov 2017 - 29 Oct 2018||1 Nov 2018 - 29 Oct 2019||1 Nov 2019 - 29 Oct 2020||1 Nov 2020 - 29 Oct 2021|
|HI (hedged) USD||NA||2.9%||3.4%||0.8%||3.4%|
|Interest rate duration||0.1|
|Expected annual yield||1.9%|
|Number of positions||85.0|
|[3 years annualized]|
All data is as at 7 Dec 2021 unless otherwise indicated.
|Portfolio Manager||TwentyFour Asset Management LLP|
|Share Class Currency||USD|
|End of fiscal year||31 August|
|Share Class Launch date||27 Jun 2017|
|SFDR Classification||Article 8|
|Fund Registrations||AT, CH, DE, ES, FI, FR, GB, IT, LI, LU, NL, NO, SE, SG|
|Share Class Registrations||AT, CH, DE, GB, LU, SG|
|Highest since launch||113.09|
|Lowest since launch||99.90|
|Fund size in mln.||EUR 161.78|
|Share class size in mln.||USD 8.91|
|TER*||0.69% (28 Feb 2021)|
|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|
|A||EUR||LU1882612564||Dist||Retail||5 Nov 2018||1.00%||1.17%||28 Feb 2021|
|AH (hedged)||CHF||LU1882612648||Dist||Retail||5 Nov 2018||1.00%||1.23%||28 Feb 2021|
|AH (hedged)||GBP||LU1882612721||Dist||Retail||5 Nov 2018||1.00%||1.23%||28 Feb 2021|
|AH (hedged)||USD||LU1882612994||Dist||Retail||5 Nov 2018||1.00%||1.23%||28 Feb 2021|
|AHI (hedged)||GBP||LU2388185246||Dist||Institutional||6 Oct 2021||0.50%|
|AQHG (hedged)||GBP||LU2388185089||Dist||Institutional||6 Oct 2021||0.35%|
|AQHNG (hedged)||GBP||LU2388184868||Dist||Retail||6 Oct 2021||0.35%|
|HG (hedged)||GBP||LU2388185162||Accum||Institutional||6 Oct 2021||0.35%|
|HI (hedged)||CHF||LU1602256296||Accum||Institutional||27 Jun 2017||0.50%||0.69%||28 Feb 2021|
|HI (hedged)||GBP||LU2388185329||Accum||Institutional||6 Oct 2021||0.50%|
|HI (hedged)||USD||LU1602256700||Accum||Institutional||27 Jun 2017||0.50%||0.69%||28 Feb 2021|
|HN (hedged)||CHF||LU1882613299||Accum||Retail||5 Nov 2018||0.50%||0.73%||28 Feb 2021|
|HN (hedged)||USD||LU1882613455||Accum||Retail||5 Nov 2018||0.50%||0.73%||28 Feb 2021|
|HN (hedged)||GBP||LU1882613372||Accum||Retail||5 Nov 2018||0.50%||0.73%||28 Feb 2021|
|HNG (hedged)||GBP||LU2388184942||Accum||Retail||6 Oct 2021||0.35%|
|I||EUR||LU1602255561||Accum||Institutional||27 Jun 2017||0.50%||0.63%||28 Feb 2021|
|N||EUR||LU1882613026||Accum||Retail||5 Nov 2018||0.50%||0.67%||28 Feb 2021|
* TER includes performance fee where applicable
All data is as at 29 Oct 2021 unless otherwise indicated.
View all documents View latest documents
|Factsheets & Commentaries|
|Monthly Commentary||Oct 2021|
|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||Sep 2021|
|View more Legal Documents View less Legal Documents|
|Annual Distribution||Nov 2021|
|Annual Report||Aug 2020|
|Quarterly Distribution||Sep 2021|
|Semi-Annual Report||Feb 2021|
|UK Tax Reporting||Aug 2020|
|Holiday Calendar 2021||Jan 2021|
|Holiday Calendar 2022||Jan 2022|
|Order Subscription Form||Jan 2020|
|Solvency II and Asset Backed Securities||Nov 2017|
|Sanctioned Countries||Sep 2016|
|Shareclass Naming Convention||Jun 2021|