Investment objective
This actively managed bond fund aims to achieve an attractive level of income along with the opportunity for capital growth.
Key features
While respecting risk diversification, the fund invests worldwide across credit ratings predominantly in bonds and similar interest-bearing securities, including corporate, convertible, or CoCo bonds and ABS, comprising MBS and CLOs, with ABS issuers mainly from Europe, the UK, Australia, and the US. The fund may be invested in full in such securities from the high-yield rating segment. The fund may also hold AT1, RT1, or Tier 2 bonds. Specific limits apply for convertible and CoCo bonds as well as for exposure to ABS. In adverse markets, the fund may be invested in full in money-market instruments. It may use derivatives to achieve its investment objective. It considers specific sustainability criteria in assessing potential investments, combining the promotion of environmental and/or social characteristics with a commitment to sustainable investments. It uses no benchmark. The investment team has full discretion.
Approach
The investment team identifies relative-value opportunities based on rigorous economic, technical, and credit analyses. It flexibly adjusts the portfolio, striving to benefit from both rising and falling interest rates.
A fixed income fund that aims to capture global credit risk premiums by investing in a wide range of credit instruments.
Vontobel Fund- TwentyFour Multi-Asset Credit (MAC) aims to maximise returns by allocating to a broad range of sectors across the global credit markets and dynamically targeting the optimum mix of credit assets as economic conditions change across the market cycle.
The Fund aims to achieve an attractive level of income along with the opportunity for capital growth.
All data is as at 31 Jul 2026 unless otherwise indicated.
| 1M | YTD | Annualised | Since Inception | ||
|---|---|---|---|---|---|
| 1Y | 3Y | ||||
| HNG (hedged) USD | -0.7% | 1.7% | 4.7% | 8.4% | 27.4% |
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| HNG (hedged) USD | 7.6% | 9.1% | NA | NA | NA | NA | NA | NA | NA | NA |
| Portfolio | ||||
|---|---|---|---|---|
| Volatility | 4.3% | |||
| Sharpe Ratio | 0.8 | |||
| Credit duration | 4.1 | |||
| Average Rating | BBB- | |||
| Yield To Maturity | 6.9% | |||
| [3 years annualized] | ||||
*Historical performance relates to Sustainable Strategic Income Fund from launch till 27/07/2026. From 28/07/2026 the fund repositioned to Multi-Asset Credit Fund
Past performance is not a reliable indicator of future performance. The performance figures shown are in the respective share class currency on a mid-to-mid basis inclusive of net reinvested income and net of all fund expenses. Performance data does not take into account any commissions and costs charged when shares of the fund are issued and redeemed. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. *Since Inception relates to inception of the share class.
All data is as at 14 Aug 2026 unless otherwise indicated.
| Portfolio Manager | TwentyFour Asset Management LLP |
|---|---|
| Fund Domicile | Luxembourg |
| Fund Currency | GBP |
| Share Class Currency | USD |
| Risk Level | 3.00 (28 Jul 2026) |
| Year End | 31 August |
| Share Class Launch Date | 26 Jan 2023 |
| Distribution Type | Accumulating |
| Min. Subscription (Fund Currency) | 50,000,000.00 |
| Swing Pricing Eligible | Yes |
| Minimum investment | 50,000,000.00 |
| SFDR Classification | Article 8 |
| Fund Registrations | AT, CH, DE, DK, ES, FR, GB, IT, LI, LU, NL, NO, SG |
| Share Class Registrations | GB, LU, SG |
| Highest since launch | 128.49 |
|---|---|
| Lowest since launch | 95.02 |
| Fund size in mln. | GBP 23.43 |
| Share class size in mln. | USD 0.00 |
| Management Fee | 0.45% |
|---|---|
| Max Management Fee | 0.62% |
| TER* | 0.66% (28 Feb 2026) |
| OCF | 0.66% (28 Feb 2026) |
| Luxembourg Taxe d Abonnement | 0.05% |
| ISIN | LU2549759236 |
|---|---|
| Valor | 122678955 |
| Bloomberg | VOTWHNG LX |
| WKN | A3D4Y5 |
| Investment Manager | TwentyFour Asset Management LLP, London |
|---|---|
| Depositary | 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 |
| Share class | Currency | ISIN | Distrib. | Type | Launch date | Management Fee | TER* | OCF |
|---|---|---|---|---|---|---|---|---|
| AQG | GBP | LU2549760085 | Distributing | Institutional | 26 Jan 2023 | 0.45% | 0.59% (28 Feb 2026) | 0.59% (28 Feb 2026) |
| AQHG (hedged) | USD | LU2549759400 | Distributing | Institutional | 26 Jan 2023 | 0.45% | 0.62% (28 Feb 2026) | 0.62% (28 Feb 2026) |
| AQHG (hedged) | EUR | LU2549760838 | Distributing | Institutional | 26 Jan 2023 | 0.45% | 0.62% (28 Feb 2026) | 0.62% (28 Feb 2026) |
| AQHNG (hedged) | EUR | LU2549761489 | Distributing | Retail | 26 Jan 2023 | 0.45% | 0.66% (28 Feb 2026) | 0.66% (28 Feb 2026) |
| AQHNG (hedged) | USD | LU2549759582 | Distributing | Retail | 26 Jan 2023 | 0.45% | 0.66% (28 Feb 2026) | 0.66% (28 Feb 2026) |
| AQI | GBP | LU2549759665 | Distributing | Institutional | 26 Jan 2023 | 0.60% | 0.74% (28 Feb 2026) | 0.74% (28 Feb 2026) |
| AQN | GBP | LU2549760242 | Distributing | Retail | 26 Jan 2023 | 0.60% | 0.78% (28 Feb 2026) | 0.78% (28 Feb 2026) |
| AQNG | GBP | LU2549759749 | Distributing | Retail | 26 Jan 2023 | 0.45% | 0.63% (28 Feb 2026) | 0.63% (28 Feb 2026) |
| G | GBP | LU2549760168 | Accumulating | Institutional | 26 Jan 2023 | 0.45% | 0.59% (28 Feb 2026) | 0.59% (28 Feb 2026) |
| HG (hedged) | USD | LU2549759152 | Accumulating | Institutional | 26 Jan 2023 | 0.45% | 0.62% (28 Feb 2026) | 0.62% (28 Feb 2026) |
| HG (hedged) | EUR | LU2549761059 | Accumulating | Institutional | 26 Jan 2023 | 0.45% | 0.62% (28 Feb 2026) | 0.62% (28 Feb 2026) |
| HN (hedged) | CHF | LU2549758691 | Accumulating | Retail | 26 Jan 2023 | 0.60% | 0.81% (28 Feb 2026) | 0.81% (28 Feb 2026) |
| HN (hedged) | USD | LU2549759079 | Accumulating | Retail | 26 Jan 2023 | 0.60% | 0.81% (28 Feb 2026) | 0.81% (28 Feb 2026) |
| HNG (hedged) | USD | LU2549759236 | Accumulating | Retail | 26 Jan 2023 | 0.45% | 0.66% (28 Feb 2026) | 0.66% (28 Feb 2026) |
| HNG (hedged) | EUR | LU2549758345 | Accumulating | Retail | 26 Jan 2023 | 0.45% | 0.66% (28 Feb 2026) | 0.66% (28 Feb 2026) |
| I | GBP | LU2549760598 | Accumulating | Institutional | 26 Jan 2023 | 0.60% | 0.74% (28 Feb 2026) | 0.74% (28 Feb 2026) |
| N | GBP | LU2549760325 | Accumulating | Retail | 26 Jan 2023 | 0.60% | 0.78% (28 Feb 2026) | 0.78% (28 Feb 2026) |
| NG | GBP | LU2549761562 | Accumulating | Retail | 26 Jan 2023 | 0.45% | 0.63% (28 Feb 2026) | 0.63% (28 Feb 2026) |
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 31 Jul 2026 unless otherwise indicated.
| Maturity | Weighting | |
|---|---|---|
| Cash & Equiv | 0.4% | |
| 0 - 1 yrs | 0.4% | |
| 1 - 3 yrs | 13.0% | |
| 3 - 5 yrs | 24.5% | |
| 5 - 7 yrs | 24.2% | |
| 7 - 10 yrs | 32.5% | |
| 10 - 15 yrs | 3.1% | |
| 15+ yrs | 2.0% |
View all documents View latest documents
| Document | Date | EN |
|---|---|---|
| UCITS KIIDs | ||
| Key Investor Information Document (KIID) | Jul 2026 | |
| Legal Documents | ||
| AGM EGM invitation | Jan 2026 | |
| Articles of Association | Apr 2016 | |
| Notification to Investors | Jun 2026 | |
| Notification to Investors | Dec 2025 | |
| Notification to Investors | Aug 2025 | |
| Notification to Investors | Apr 2025 | |
| Notification to Investors | Dec 2024 | |
| 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 | Jul 2026 | |
| View more Legal Documents View less Legal Documents | ||
| Sustainability Related Disclosures | ||
| Exclusion Framework | Jan 2026 | |
| Periodic Disclosure | Aug 2025 | |
| Pre-contractual Disclosure | Jul 2026 | |
| Statement on principal adverse impacts of investment decisions on sustainability factors | Jun 2026 | |
| Sustainability Related Disclosures | Jul 2026 | |
| Financial Reports | ||
| Annual Distribution | Nov 2025 | |
| Annual Distribution | Nov 2024 | |
| Annual Report | Aug 2025 | |
| Distribution Dates | Jan 2026 | |
| Quarterly Distribution | Jun 2026 | |
| Quarterly Distribution | Mar 2026 | |
| Quarterly Distribution | Dec 2025 | |
| Quarterly Distribution | Sep 2025 | |
| Quarterly Distribution | Jun 2025 | |
| Quarterly Distribution | Mar 2025 | |
| Quarterly Distribution | Dec 2024 | |
| Quarterly Distribution | Sep 2024 | |
| Quarterly Distribution | Jun 2024 | |
| Quarterly Distribution | Mar 2024 | |
| Semi-Annual Report | Feb 2026 | |
| Semi Annual Distribution | Apr 2026 | |
| Semi Annual Distribution | Apr 2025 | |
| Semi Annual Distribution | Apr 2024 | |
| Semi Annual Distribution | Apr 2023 | |
| UK Tax Reporting | Aug 2025 | |
| UK Tax Reporting | Aug 2024 | |
| UK Tax Reporting | Aug 2023 | |
| UK Tax Reporting | Aug 2022 | |
| View more Financial Reports View less Financial Reports | ||
| Dealing Information | ||
| Application Form | Oct 2024 | |
| Holiday Calendar 2026 | Jan 2026 | |
| Order Subscription Form | Oct 2024 | |
| Policies | ||
| Sanctioned Countries | Oct 2022 | |
| Shareclass Naming Convention | Jan 2026 | |
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
Price fluctuations of investments due to market, industry and issuer linked changes are possible
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
Morningstar rating: © 2026 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.
