Vontobel Fund - TwentyFour Sustainable Strategic Income Fund

Flexible Bonds
ISIN
LU2549761562
Valor
122677869
Sedol
BPJJYG6
116.30
NAV
As at 5 Dec 2024
9.39%

Investment objective

This bond fund aims to achieve an attractive level of income and capital growth over a full economic cycle, while applying both positive and negative ESG screening.


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. The fund applies both positive and negative ESG screening to the investment universe, a system designed to reward companies for sound ESG practices.


Approach

The experienced investment team takes a high conviction approach to finding the best relative value opportunities available in global fixed income, combining top-down macroeconomic analysis with detailed bottom-up credit work. The team flexibly allocates interest rate and credit risks in line with their continuous assessment of market conditions and future developments, seeking to generate income and the potential for capital gain throughout the cycle. The managers have the ability to use interest rate and credit derivatives to either optimize or reduce exposures, though these are typically used sparingly.

An actively managed, long-only, sustainable bond fund with a global opportunity set, targeting attractive returns throughout the economic cycle with a strong focus on ESG considerations.

Based on TwentyFour’s flagship ‘go anywhere’ bond fund, Vontobel Fund – TwentyFour Strategic Income Fund (SIF), SSIF applies both positive and negative ESG screening to its investment universe, a system designed to reward companies for sound ESG practices.

Like SIF, SSIF is an unconstrained fund that seeks value from across the global bond markets. It is 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?

  • Our ESG screening process helps to ensure investors’ capital is invested sustainably, while still benefiting from TwentyFour’s specialist and active approach to fixed income
  • A negative screen which rules out familiar ‘sin’ sectors in addition to a separate negative screen which excludes corporates from countries with poor ESG practices, but then importantly a positive screen excludes any bond issuers we score lower than 34 out of 100
  • 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 31 Oct 2024 unless otherwise indicated.

Fund performance

Cumulative performance

1M YTD 1Y Since Inception
NG GBP -0.7% 7.6% 16.7% 14.4%

Portfolio characteristics

Portfolio
Volatility 5.1%
Sharpe Ratio 2.2
Information Ratio
[1 year]

All data is as at 5 Dec 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 26 Jan 2023
Distribution Type Accumulating
Minimum investment 50,000,000.00
SFDR Classification Article 8
Fund Registrations AT, CH, DE, FR, GB, LU
Share Class Registrations GB, LU
Nav Information
Highest since launch 116.30
Lowest since launch 94.98
Fund size in mln. GBP 36.17
Share class size in mln. GBP 0.39
Fees And Expenses
Management fee 0.45%
TER* 0.63% (29 Feb 2024)
OCF 0.63% (29 Feb 2024)
Identifiers
ISIN LU2549761562
Valor 122677869
Bloomberg VNSUSNG LX
SEDOL BPJJYG6
WKN A3D4ZC
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
AQG GBP LU2549760085 Distributing Institutional 26 Jan 2023 0.45% 0.59% (29 Feb 2024) 0.59% (29 Feb 2024)
AQHG (hedged) USD LU2549759400 Distributing Institutional 26 Jan 2023 0.45% 0.65% (29 Feb 2024) 0.62% (7 Oct 2024)
AQHG (hedged) EUR LU2549760838 Distributing Institutional 26 Jan 2023 0.45% 0.65% (29 Feb 2024) 0.62% (7 Oct 2024)
AQHNG (hedged) EUR LU2549761489 Distributing Retail 26 Jan 2023 0.45% 0.69% (29 Feb 2024) 0.66% (7 Oct 2024)
AQHNG (hedged) USD LU2549759582 Distributing Retail 26 Jan 2023 0.45% 0.69% (29 Feb 2024) 0.66% (7 Oct 2024)
AQI GBP LU2549759665 Distributing Institutional 26 Jan 2023 0.60% 0.74% (29 Feb 2024) 0.74% (29 Feb 2024)
AQN GBP LU2549760242 Distributing Retail 26 Jan 2023 0.60% 0.78% (29 Feb 2024) 0.78% (29 Feb 2024)
AQNG GBP LU2549759749 Distributing Retail 26 Jan 2023 0.45% 0.63% (29 Feb 2024) 0.63% (29 Feb 2024)
G GBP LU2549760168 Accumulating Institutional 26 Jan 2023 0.45% 0.59% (29 Feb 2024) 0.59% (29 Feb 2024)
HG (hedged) USD LU2549759152 Accumulating Institutional 26 Jan 2023 0.45% 0.65% (29 Feb 2024) 0.62% (7 Oct 2024)
HG (hedged) EUR LU2549761059 Accumulating Institutional 26 Jan 2023 0.45% 0.65% (29 Feb 2024) 0.62% (7 Oct 2024)
HNG (hedged) USD LU2549759236 Accumulating Retail 26 Jan 2023 0.45% 0.69% (29 Feb 2024) 0.66% (7 Oct 2024)
HNG (hedged) EUR LU2549758345 Accumulating Retail 26 Jan 2023 0.45% 0.69% (29 Feb 2024) 0.66% (7 Oct 2024)
I GBP LU2549760598 Accumulating Institutional 26 Jan 2023 0.60% 0.74% (29 Feb 2024) 0.74% (29 Feb 2024)
N GBP LU2549760325 Accumulating Retail 26 Jan 2023 0.60% 0.78% (29 Feb 2024) 0.78% (29 Feb 2024)
NG GBP LU2549761562 Accumulating Retail 26 Jan 2023 0.45% 0.63% (29 Feb 2024) 0.63% (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 31 Oct 2024 unless otherwise indicated.

Rating Structure

Regional Exposure

Major Sectors

Maturity Structure

Maturity Weighting
0 - 1 yr 2.5%
1 yr - 3 yr 15.4%
3 yr - 5 yr 34.0%
5 yr - 7 yr 14.1%
7 yr - 10 yr 31.3%
10 yr - 15 yr 0.3%
15 yr+ 1.5%
Cash & Equiv 0.8%

View all documents View latest documents

Document Date EN
Factsheets & Commentaries
Factsheet Oct 2024
Monthly Commentary Oct 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 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 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 2024
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
Holiday Calendar 2025 Nov 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.